The Commission also sees Romania’s gross domestic product (GDP) climbing 3.6% in 2023.
In February 2022, before Russia’s invasion of Ukraine, the Commission estimated that Romania’s economy would grow by 4.2% in 2022 and by 4.5% in 2023.
According to the EC data, the annual inflation is envisaged at 8.9% at end-2022 and at 5.6% in 2023. The unemployment rate is predicted to stay around 5.5% in 2022 and 5.3% in 2023. The budget deficit is anticipated to drop from 7.5% of GDP in 2022 to 6.3% in 2023, with the share in the GDP seen reaching 52.6% in 2023.
The International Monetary Fund (IMF) has lowered its economic growth projection for Romania to 2.2% for 2022 from a previous projection of 4.8% made in October 2021, the Fund said in its April 2022 edition of its World Economic Outlook (WEO) report.