The prognosis commission revised this year’s gross domestic product (GDP) to RON837.1 billion, from RON815.2 billion envisaged in its spring forecast.
The commission expects the industry and agriculture to accelerate the economic growth and the construction sector to put a brake on it. The industry is expected to grow by 7.6% in 2017, from a previous estimate of +6%, the agriculture is seen rising by 3%, from a previous forecast of 1.9%, and the construction sector is seen advancing by only 1.5%, from a previous estimate of 6%.
The commission has also revised its forecast on consumption growth to 7.3%, from a previous 6.2%.
Investments are estimated to rise by only 4% in 2017, revised downwards from a 7.2% growth estimate released in spring.
The average net wage is expected to reach RON2,324 this year, from RON2,274 in its spring forecast and the average euro/leu exchange rate is seen reaching 4.56 to the euro, from an estimate of 4.46 to the euro released in spring. The average number of employees is envisaged at 4.92 million in 2017, compared with 4.95 million envisaged in its spring forecast.
The monthly average inflation is expected to drop to 1.1% in 2017, from a previous forecast of 1.4%.
The prognosis commission kept its GDP growth forecast for 2018, 2019 and 2020, to 5.5%, 5.7% and 5.7%, respectively, and for 2021, it expects a GDP growth of up to 5%.