IMF expects a 2.2 percent advance this year for Romania’s economy

The International Monetary Fund expects a 2.2 percent economic growth for Romania in 2014, below the level reached last year, 2.8 percent, the highest since the beginning of economic crisis. The estimation has been communicated by Andrea Schaechter, Head of the IMF Mission whose visit in Bucharest ends these days, and quoted by Agerpres. 

‘It is a smaller increase than last year, but there will be other sectors, besides agriculture, that will play an important role. We are optimistic that there will be created new jobs. We now see a growth in the domestic demand, but also in exports. This year’s budget is an investment budget which will lead to the improvement of the infrastructure and will give constructions a boost.’, Schaechter said, according to the press agency.

She also commented on the performance Romania recorded the previous year in terms of economic progress, outlining the importance of the agricultural component and the reduction of the VAT applied for bakery products (bread) which determined the inflation to go down to 1.6 percent at the end of 2013.

As for the current year, Schaecther said that the inflation will continue dropping within the first quarter followed by an increase in the second half of the year when will exceed the 2.5 percent target announced by Romania’s Central Bank. She further added that anticipates an expansion of the job offer in sectors such as manufacturing and services.