For 2017, the commission expects economic growth of 4.2% from a previously forecast level of 3.7%. For 2018, it revised expected economic growth to 4.5% from 4% and the forecast for 2019 is at 4.7%.
The prognosis commission revised this years’ gross domestic product to RON704.5 billion (EUR158.5 billion) from RON701 billion envisaged in its spring forecast. For 2016, Romania’s GDP forecast has been revised to RON746.6 billion from RON742 billion.
Investments are estimated to rise 7.6% this year compared with 2014, revised upwards from a 5% growth estimate released in spring. For 2016, the investment growth rate forecast was revised up to 6.2% from 5.6%.
The prognosis commission has also revised its forecast on consumption growth to 4.5% from 3.2% this year, and to 4.4% from 3.4% next year.
The commission revised its imports growth forecast down to 6.9% from 7.6% for this year and to 7.8% from 8% for next year. Exports are seen growing 6% this year from a previously envisaged 7.3%, and by 7% instead of 7.4% next year.
The commission thus sees Romania’s trade deficit at RON6.93 billion in 2015, from a previous forecast of RON6.63 billion. In 2016, the trade deficit is expected to widen to RON7.92 billion, from the previously forecast level of RON7.52 billion.