Romania’s economic growth could slow down to 4.1% next year and 3.4% in 2019, after an estimated advance of 6% this year, according to local lender Banca Transilvania’s economists.
The evolution is based on the maturing of the post-crisis economic cycle at global and European level, as well as the rebalancing of domestic economic policy. This will have an impact on financing costs and will influence investment and consumption behaviors.
The bank estimates a 2.6% GDP growth in 2020. Romania’s GDP grew by 8.8% in the third quarter of this year compared to the same period last year. It was the best evolution in the last nine years.
The GDP rose by 2.6% in the third quarter compared to the previous three months. Domestic demand has contributed 10 percentage points to the annual growth rate in Q3.
Industry, consumption contribute the most to Romania’s economic growth