With the arrival of anti-COVID vaccines the global economy will gradually emerge from the unprecedented economic crisis caused by the pandemic. The capacity of countries to overcome the crisis in 2021 will depend on the efficacy of economic support programs and governments will play significant roles.
The outlook for Romania is largely positive as the country is set to benefit from an EU financing package of over EUR80 billion.
“The business environment shows moderate optimism regarding the economy in 2021. Recovery will be asymmetrical. Sectors expected to grow are mainly the same that did well under lockdown – from online commerce to courier services, constructions, DYI and retail. We expect the hospitality industry to start recovering as vaccination progresses and restrictions are lifted. Slower recovery is expected in industry, agriculture (hard hit by drought in 2020), event planning, tourism and transport,” said Cosmin Bucur, Managing Director at Moneycorp.
According to the survey conducted in the period December 1-8, 63% of the 1,000 respondents expect a K-shaped recovery, 15% estimate a U or W- W-shaped recovery and just 7% see a quick V-shapes recovery.
Most companies (61%) expect to match their 2019 turnover level in 2022 and just 15% expect to recover in 2021, while 23% said their business would follow a stable course in 2021, unhindered by the effects of the pandemic.