In its autumn economic forecast released Tuesday, the Commission predicts the agriculture production will advance at a similar pace as in 2011.
Romania had the best farming output in years in 2011, which contributed significantly to a 4.4% annual economic growth rate in the third quarter. However, most analysts don’t expect the performance to repeat in 2012, when they see a negative base effect from the agriculture sector.
“We estimate the agriculture will have a similar evolution in 2012,” said Ion Ghizdeanu, president of the Commission.
Constructions are expected to increase by 4% on the year in 2012, while industry and services are predicted to advance at an annualized rate of 2.8$ and 1.4%, respectively, the report noted.
Household consumption is bound to pick up 1.8% next year, while gross capital formation is expected to increase 3.9%.
On the other hand, exports are estimated to inch down 0.3% on the year, the Commission said.
Romania’s leu is expected to trade at 4.26 per euro on average in 2012, up from 4.24 per euro on average this year.
The Commission estimates the annual inflation rate will be 3.5% in 2012, from 3.8% at the end of 2011.