IMF revises upwards growth forecast for European emerging economies

Newsroom 20/01/2015 | 13:31

The International Monetary Fund’s (IMF) has revised upwards its economic growth forecast for European emerging economies, Romania included, to 2.9 percent for 2015. The previous growth forecast was 2.8 percent and it was announced in October last year. The region’s most recent projection for 2016 is 3.1 percent, up from 2.9 percent estimated in October.

The announcement comes after the European Bank for Reconstruction and Development (EBRD) said on Monday that it maintains its economic growth forecast for Romania to 2.8 percent in 2015. Romania’s economy is expected to benefit this year from the oil price depreciation, increasing investments and a consumer confidence improvement, according to the EBRD.

While IMF’s economic forecast for the region has been revised upwards, the global forecast for 2015 has been lowered the 3.8 percent level announced in October to 3.5 percent, according to Reuters. The 2016 global economic forecast has been lowered to 3.7 percent from a previous 4 percent level.