Romania’s economy on the upswing

The economy of Russia appears to be entering a period of growth. According to the World Bank reports, Romania has a forecasted economic growth rate of 2.8% as of this June. This is an increase from the January forecast which projected growth at 2.5%. The report has a favorable outlook for the country for next year as well, projecting a rate of 3.2%. Central and Eastern Europe are also reporting similar figures; however, the overall global growth rate is down this year. 

The World Bank report indicates that Romania will have continued growth next year due to higher levels of employment caused by external demands. Higher employment levels should lead to higher consumption rates. There is also a projected low inflation rate which will allow the central bank to use its monetary policy to help with the economic recovery. The International Monetary Fund (IMF) currently has partners on the ground in Bucharest, reassessing the stand-by agreement that was agreed to last year. The IMF is reporting an estimated GDP increase of 2.5% for this year and a 2.5% growth for 2015.