In its spring report in April, the IMF saw Romania’s economy growing 2.7% this year and 2.9% in 2016.
Inflation is seen at minus 0.4% this year and is expected to stay negative in 2016 as well, at -0.2%. Back in April, the IMF estimated an annual inflation rate of 1% for 2015 and 2.4% for 2016.
Romania’s current account deficit is seen at 0.7% this year and is expected to widen to 1.5% in 2016. The previous IMF report saw the deficit at 1.1% in 2015 and 1.5% in 2016.
Unemployment is expected to reach 6.9% this year and 6.8% next year, a slight revision from the 6.7% rate estimated for both years back in April.
Romania’s gross domestic product increased 3.7% and 3.8% in seasonally adjusted data in the first half of the year. In the second quarter, Romania’s economy grew 3.2% and 3.7% year-on-year in seasonal adjusted data, and increased 0.1% compared with the first quarter, according to the statistics institute INS.
This year’s state budget considered a GDP growth of 2.5%, while the most recent estimate of Romania’s National Forecast Commission sees economic growth at 3.3% this year.
Early May, the European Commission revised up its economic growth forecast fort Romania to 2.8% from 2.7 for 2015, and to 3.3% from 2.9% for 2016, considering solid domestic consumption and a rebound in investments.