EC improves its economic prognosis for Romania

Newsroom 05/05/2014 | 13:06

The European Commission has improved its prognosis for Romania’s economic growth in the following two years. The EC anticipates that the economy will slow down after an excellent 2013 for agriculture, but it will maintain is upward momentum based on investments.

The European Commission estimated that Romania’s GDP will grow by 2.5 percent in 2014 and 2.6 percent in 2015, after expanding by 3.5 percent last year. Previously, the Commission announced a growth of 2.3 percent for this year and 2.6 percent next year, compared to November 2013 when the numbers were even lower: 2.1 percent in 2014 and 2.4 percent in 2015.

The European Commission emphasizes that internal consumption will become the main engine for economic growth, which in the past had to support itself through experots and agriculture.

At the same time, the Commission anticipates that “investments will catch momentum” this year, supported by a better absorption rate for European Funds and “big infrastructure projects”.

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