For 2016, European Commission forecasts a 2.9% economic growth in Romania.
“Romania’s economic growth is forecast to remain robust in 2015 and 2016, mainly driven by domestic demand and accompanied by a stable labor market,” EC said.
The economic growth forecast for 2014 was also revised upwards to 3% from 2% previously seen.
“The government budget deficit is forecast to decrease further to 1.5% of GDP in 2015, as a reduction in tax revenues is outweighed by reductions in expenditure, expressed as a fraction of GDP,” EC said.
In the autumn forecast, EC estimated the deficit will grow to 2.8% of GDP this year.
The deficit target agreed by Romanian authorities with IMF and EC for 2015 is of 1.4% of GDP.
Inflation rate is forecast to reach 1.2% in 2015 and 2.5% in 2016, from the previous estimations of 2.1% and 2.7%, respectively.