Romania gdp for 2019 was $250.08B, a 3.5% increase from 2018. Get your free, Fitch affirms Romania at 'BBB-', outlook negative, Orange Romania's revenues fall 2.1% y/y in Q3, EIB lends 50 mln euro to Romania's CEC Bank, Romania's 9-mo budget gap widens to 6.36%/GDP on coronavirus spending, INTERVIEW: Pandemic forces SEE companies to step up business processes automation, Tenders, Electricity – Romania (Zalau County Emergency Hospital). This page has economic forecasts for Romania including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Romania economy. Nevertheless, Romania’s public debt remains one of the lowest in the EU. A proactive but constrained fiscal response supported firms to retain employees and fed into household incomes," the World Bank's said. Resident Representative for Romania Nadeem Ilahi IMF Senior Regional Representative for Central, Eastern and South-Eastern Europe . Romania Insider. Latest news, market intelligence, industry analyses, on-demand research – the big picture at the tip of your fingers. Unlimited news and objective analysis you can trust, company data and more. Office Information. The contraction of the Romanian economy in 2020 forecast by the World Bank in the June report is much stronger that the shrinking of GDP by 3.8% expected by the country's government. Romania’s economic freedom score is 69.7, making its economy the 38th freest in the 2020 Index. "The protracted COVID-19 pandemic has seriously affected Romania’s economic activity and household incomes in the short-run. In … Get ahead of the competition with SeeNews Premium Access. GDP in Romania averaged 105.44 USD Billion from 1987 until 2019, reaching an all time high of 250.08 USD Billion in 2019 and a record low of 25.12 USD Billion in 1992. Romania gdp for 2018 was … SeeNews is your complete guide to the emerging economies of Southeast Europe. In the short run, the key challenge for Romania is to contain the COVID-19 crisis and limit its health and economic consequences, as a prolonged crisis with extensive additional mitigating measures to reduce transmission would affect growth prospects. According to the World Bank, a widening fiscal deficit would push public debt to an estimated 45.1% of GDP in 2020 and 47.7% in 2021 from 37.6% in 2019. "The pro-cyclical fiscal trajectory before the COVID-19 crisis added to the fiscal space constraints, feeding into lower investor confidence and increasing financing costs. However, the global lender noted, Romania's public debt remains one of the lowest in the EU. The bulk of the increase stems from the fiscal deficit. The severity of the recession and the magnitude of the 2021 economic recovery will depend on the evolution of the health crisis and its policy response, on the impact of the national economic stimulus, and on the spillovers from the stimulus pursued at EU level. Additional risk stems from Romania’s historical low EU funds absorption rates raising questions on the country’s capacity to take advantage of the EU recovery funds, which is one of its main economic recovery engines, the bank stressed. The 2020 economic downfall is mainly due to a slow recovery of manufacturing and a poor agricultural year, the bank noted. You have 10 free articles left this month. Last Updated: Oct 15, 2020 The Gross Domestic Product (GDP) in Romania was worth 250.08 billion US dollars in 2019, according to official data from the World Bank. In addition, the 40% increase in public pensions, resulting in fiscal costs close to 2.7% of GDP, passed recently by the parliament, if not reversed, would seriously impact macroeconomic stability while, in the short run, could lead to a downgrade in Romania’s sovereign ratings, the global lender warned. Normal. Subscribe now and start making agile business decisions. Tel: 40‐21‐311‐5833 Fax: (4021) 318-1410 Email: nilahi@imf.org In order to address the consequences of COVID-19, the fiscal deficit is expected to widen to around 9% of GDP in 2020, up from a planned deficit of 3.6% before the crisis, and a substantial reduction of the deficit in 2021 is improbable, as the government will have to support the economic recovery process. Romania's economy expanded by 4.1% last year, according to the latest data available from the statistics office.
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