Economic growth is expected to accelerate modestly to 3.6% in 2014, also at a much slower rate compared with a growth of 4.7% previously envisaged.
The Romanian government forecasts a budget deficit of 2.2% of the gross domestic product in 2013, similar to the 2012 target. The gap is expected to narrow to 1.2% of GDP in 2014 and further to 0.9% of GDP in 2015.
The authorities estimate the country’s GDP will increase to 649 billion lei (EUR145.3 million) in 2013 and to RON694.3 billion in 2014, from RON607.5 billion predicted for this year.
Romania’s economy slipped back into recession at the end of March after contracting for two consecutive quarters. The gross domestic product shrank by 0.1% in real terms in the first three months compared with a quarter earlier.
However, the authorities expect the economy will return to growth in the second half of the year and forecast an annual growth rate of 1.5% in December.