IMF cuts Romania's 2023 GDP growth f'cast to 2.2%

Romania's economic growth is also predicted to accelerate to 3.8% in 2024, or 0.1 percentage points higher than the projection made in April, the IMF said in its October 2023 World Economic Outlook (WEO) report published on Tuesday.

Romania's GDP grew by 4.7% in 2022.

Consumer price inflation is forecast to slow down to 10.7% this year from 13.8% in 2022 and further drop to 5.8% next year, the IMF said.

Romania's unemployment rate is expected to remain unchanged from last year's 5.6% in 2023, before declining to 5.4% in 2024.

The IMF projects Romania's current account deficit at 7.3% of GDP in 2023, lower than the April forecast of 7.9%. The current account is then projected to be in deficit of 7.1% of GDP in 2024.