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World Bank sees Romania's GDP growth at 2.9% in 2022, 3.7% in 2023

World Bank sees Romania's GDP growth at 2.9% in 2022, 3.7% in 2023 Bucharest aerial view Source: pixabay.com

BUCHAREST (Romania), June 8 (SeeNews) - Romania's economy is expected to grow by 2.9% in 2022 and by 3.7% in 2023, the World Bank said on Wednesday.

In January the World Bank forecast that Romania's gross domestic product (GDP) would expand by 4.3% this year, but in April it cut its forecast to 1.9% GDP growth.

The latest World Bank estimations are in line than those of the Romanian government, which targets 2.9% economic growth in 2022.

The World Bank report shows that growth in Central Europe, which includes Bulgaria, Croatia, Hungary, Poland, and Romania, is forecast to weaken to 3.7% in 2022 alongside that in the euro area, as external demand slows and higher inflation, tighter monetary policies and greater policy uncertainty dampen domestic demand.

"The large inflow of displaced people from Ukraine—who are predominantly women, children, and the elderly—is increasing demand for public services and housing, putting pressure on public finances," the lender said.

(1 euro=4.9426 lei)

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