June 9 (SeeNews) - Romania’s economy is expected to grow by 2.6% in 2023 and by 3.2% the next year, the Organisation for Economic Co-operation and Development (OECD) said.
The country's economy will weaken in the short term, given soft demand in the face of high inflation, elevated interest rates and subdued growth in trading partners, the OECD said in its June 2023 Economic Outlook report published on Wednesday.
The OECD expects inflation in Romania to slow down over the next 18 months but to remain above the targeted 2.5%. The country's jobless rate will decline in 2024 but will remain above pre-pandemic levels, according to the forecast.
Net exports are expected to decrease by 0.7% in 2023, to be followed by a rise of 0.2% next year.
in 2024, the country's gross domestic product (GPD) will increase on the back on stronger household consumption, business investment and exports, the OECD said, adding that risks surrounding energy prices and energy security remain sizeable in Romania.
"The gender employment gap is wide; in 2022, the employment rate among women was 17 percentage points lower than that for men, a large disparity when compared with OECD countries," the organisation noted.