In its spring economic forecast, the European Commission expected Romania’s GDP to drop 6% in 2020.
The Commission sees Romania’s budget deficit soaring to 10.3% of the gross domestic product (GDP) in 2020, to 11.3% in 2021 and to 12.5% in 2022.
In its spring forecast, the Commission predicted Romania’s budget deficit would be 9.2% of the GDP in 2020.
On October 1, 2020, Romania’s budget deficit stood at 6.3% of the GDP.
The government debt to GDP in Romania is expected to grow from 35.3% in 2019 to 63.6% in 2022 (46.7% in 2020 and 54.6% in 2021).
Romania’s unemployment rate is seen reaching 5.9% in 2020 and 5.1% in 2022.