January 26 (SeeNews) - Romania’s economy will expand by an estimated 2.8% in 2023, finance ministry analysts said on Thursday, maintaining their economic growth projection for this year made in October.
Romania’s gross domestic product (GDP) is expected to total 1.599 trillion lei ($356.8 billion/327.2 billion euro) this year, the National Commission for Strategy and Prognosis, CNSP, an analyst unit within the finance ministry, said in an update to its 2022-2026 forecast.
Final household consumption is expected to grow by 2.4% this year, while government consumption is estimated to rise by 1.5%. The industry sector is estimated to expand by 0.6%, while agriculture is expected to register 10.6% growth in 2023.
Exports of goods and services are expected to grow by 4.5% in 2023, while imports are seen increasing by 5.2%.
Analysts at CNSP also expect inflation, measured by the consumer price index, to reach 8% at the end of 2023, in line with their October forecast.
For 2022, CNSP revised its GDP growth estimate to 4.9%, up 0.3 percentage points from the last forecast made in August 2022.