National Forecast Commission revises upwards growth forecast by 2020

Newsroom 25/01/2017 | 15:05

National Forecast Commission (CNP) revised upwards the growth forecast of the Romanian economy by 2020. These indicators were used to calculate the draft budget for 2017.

Consequently, for 2017, the growth forecast was revised from 4.3 percent in the Autumn forecast to 5.2 at the current one, for 2018 from 4.5 percent to 5.5 percent, for 2019 from 4.7 percent to 5.7 percent and for 2020 from 4.2 percent to 5.7 percent.

The GDP is estimated at RON 815.2 billion in 2017 (compared to RON 807.4 billion in the previous forecast), to RON 878 billion in 2018 (RON 861.6 billion previously), to RON 946 billion in 2019 (RON 919.6 billion previously) and at RON 1.014 billion in 2020 (RON 977.2 billion previously).

The inflation forecast was revised downwards, to an annual average of 1.4 percent, compared to 1.9 percent, as the CNP had forecasted. For the upcoming three years, the forecast remained unchanged.

The average gross salary is estimated to be RON 3,131 in 2017, up by 11.2 percent year-on-year. In addition, forecasts on the average net wage were revised upwards, to RON 2,274 in 2017, up by 11.1 percent compared to 2015.

Georgeta Gheorghe

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