The government also reduced its forecasts on the 2014 and 2015 growth to 2.2% and 2.8%, respectively. Previously, the authorities had seen an economic growth of 3% in 2014 and of 3.3% in 2015.
According to the 2013 draft budget, Romanian economy is expected to advance 1.6% in 2012, compared with an increase of 1.8% previously predicted.
It was the second revision of the 2013 growth forecast in the last month. Earlier January, the government estimated a growth of 2% for this year.
Romania’s fiscal strategy for 2013-2015 envisages an average GDP growth of 2.2% over the next three years.
The government forecasts an average exchange rate of 4.5 lei per euro in 2013, despite a significant appreciation of the leu in January. The national currency strengthened 1.8% to a one-year high of 4.3351 to the euro last week, amid increased appetite from foreign investors who bought Romanian debt.
The government’s prognosis on the exchange rate could mean the authorities expect the international appetite for state treasuries will fade out in the next months.