Romania’s economy to see 2.7 pct increase this year, says the IMF

Romania’s economy will advance by 2.7 percent this year, according to a report released on Tuesday by the International Monetary Fund (IMF), the institution thus maintaining the IMF experts’ forecast at the end of the visit to Bucharest in February, the estimation being though revised upwards compared to the report in October 2014.

In the previous edition of the World Economic Outlook report, the IMF was anticipating that the Romanian economy will grow by 2.5 percent this year.

The IMF experts said in February, at the end of the IMF mission in Bucharest on regular consultations in accordance with the fourth article of the institution’s statute, that this year’s economic advance will be supported mainly by strengthening private consumption due to the increase of the real wages, to low oil prices and to interest rates at record lows.

According to Mediafax, the IMF estimates for next year an advance of 2.9 percent of the Romanian economy.

The average annual inflation rate will be at 1 percent in 2015, given that in October last year the IMF was predicting that consumer prices will advance by 2.9 percent.

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The Fund also forecasts that inflation will accelerate by 2.4 percent next year.

Staff