IMF adjusted the projections regarding the growth of Romania's GDP to 3.4pct this year

Wednesday, October 7, 2015 Share

The International Monetary Fund (IMF) has upwardly adjusted the projections regarding the growth of Romania's Gross Domestic Product (GDP) for this year and the next, to 3.4pct and respectively 3.9pct, according to the latest World Economic Outlook released on Tuesday by the international financial body.



According to the latest IMF projections published during the body's Annual Meeting in Lima, Peru, Romania's Gross Domestic Product is expected to go up by 3.4pct this year and by 3.9pct in 2016, compared to a 2.7pct growth in 2015 and of 2.9pct in 2016, as estimated in the spring of 2015.



The IMF believes that the emergent region of Europe, Romania included, has profited from the drop in oil prices and of the gradual recovery of the Eurozone. The growth remains relatively strong in Central and Eastern Europe, with Hungary and Poland recording growth rates of 3pct and even higher, but stays weaker in Southeastern Europe (with the exception of Romania), the IMF report informs.



On the other hand, the IMF has downwardly adjusted in a significant way the projections on the consumer prices in Romania, to - 0.4pct in 2015 and -0.2pct in 2016, compared to a growth of 1.0pct in 2015 and 2.4pct in 2016, as estimated in the spring of 2015. As regards the current account deficit, the situation is similar, with IMF projections being downwardly revised to -0.7pct from 1.1pct for 2015 and to -1.5pct from 1.5pct for 2016.



At a global level, the IMF reduced on Tuesday the projections regarding the global economic growth for this year and next year, drawing attention to the "high risks" associated to the slowing down of the Chinese economy and of that of other major emerging countries. According to the IMF's most recent estimates, the Global GDP is expected to grow by 3.1pct this year and by 3.6pct in 2016, 0.2pct less than estimated in July 2015.