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Romanian govt analysts forecast 5% GDP growth in 2021

Romanian govt analysts forecast 5% GDP growth in 2021 source: SeeNews

BUCHAREST (Romania), April 28 (SeeNews) - Romania's economic output will rise by an estimated 5% in 2021, finance ministry analysts said, revising their previous forecast for 4.3% growth.

Romania's gross domestic product (GDP) is expected to total 1.143 trillion lei ($279 billion/232 billion euro) this year, the National Prognosis Commission (CNP), an analyst unit within the finance ministry, said in a statement on Monday.

For 2022, the analysts at CNP expect the economy to expand by 4.8%.

In 2021, Romania's economy will be boosted by 4.3% year-on-year growth in final household consumption, CNP said.

Agriculture is expected to rise by by an annual 14.8%, services by 3.9% and industry by 5.8% in 2021, while construction is forecast to add an annual 6.1%.

Exports of goods and services are expected to grow by 7.7% in 2021, while imports are seen increasing by 8.9%, according to the latest CNP projection.

Analysts also said they expect, on average, inflation of 3.2% for 2021 and of 2.8% for 2022. Romania's consumer prices rose 3.05% year-on-year in March, compared to 3.16% in February, according to national statistical office data.

Finance ministry analysts also expect an exchange rate of 4.92 lei per euro in 2021 and of 4.97 lei per euro in 2022. Unemployment rate is seen at 4.8% in 2021 and at 4% next year.

Romania's economy contracted by 3.9% in 2020, compared to a growth rate of 4.1% in the previous year.

(1 euro = 4.9270 Romanian lei)