Economic growth slightly higher than the 2% estimated by IMF

The 2% economic growth IMF (the International Monetary Fund) estimated for Romania this year will be marginally higher, somewhere between 2.3% and 2.5% announced Daniel Daianu, First Deputy President of the Financial Supervisory Authority (ASF), according to Agerpres. Yet, the improvement is mainly due to the agricultural production which registered record volumes this year.

‘The economic growth will be in 2013 between 2.3% and 2.5%, but significantly dependant on agricultural production. The Romanian economy will look surprisingly good if we look at the current account deficit that could be set at 1% of the GDP in 2013. This 1% will be a great boost given the last years when we got stuck at 4%.’ said Daianu that further added that the inflation will be around 2% at the end of the year. ‘A new shock could come from overseas. The European economy is deteriorating, having implications for the capital market and the banking sector. Money is withdrawn.’ also mentioned Daianu.

IMF anticipated a 2% economic increase for Romania this year, followed by an improvement with 2.2% in 2014 as per the World Economic Outlook report released early this month. Both estimations have been re-examined after the fund’s forecast published this spring which indicated a 1.6% and 2% growths for 2013 and 2014, respectively.