The Commission raised its growth forecast for this year to 7.4% from 5.1% envisaged back in spring.
Romania’s real GDP increased 2.8% in the first quarter this year compared with the last quarter of 2020, supported mainly by private consumption and investment.
Private consumption is expected to remain very robust, supported by the lifting of restrictions, particularly for sectors severely affected by the pandemic such as arts, entertainment, restaurants and hotels, as well as by the relatively strong growth of wages in the first months of the year, the EC noted in its Summer Economic Forecast released Wednesday.
The Romanian government’s most recent forecasts see GDP growth at 5% this year.