Romania’s economy is set to grow by 3.7 percent in 2017, by 3.4 percent in 2018 and by 3.2 percent in 2019, estimates the World Bank in the report regarding the World Economy Perspectives.

For 2016, the World Bank had forecasted an economic growth for Romania of 4.7 percent, up by 0.7 percentage points compared with the estimation from June 2016. The institution says that the significant economic increase from 2016 was supported by the procyclical measure of VAT cut, but the economic growth will be stable in 2017.

The minister of Public Finance, Viorel Stefan, the Government program is based on an economic growth, on average of 5.5 percent per year in the next four years.

At global level, after the decreased values registered in the year post-crisis in 2017, according to the World Bank forecast, the global economic growth will register a moderate boost of 2.7 percent, based on the reduction of the obstacles that affect the activity of the common products exporting countries with an emergent market economy and developing countries, while the level of the internal demand remains solid among the importing countries of common products, that operate in emergent economies and developing economies.

According to the World Bank report, this year the developed economies are set to register a growth of 1.8 percent.

„However, the perspectives are dark due to the uncertainties that characterize the political orientation in the developed countries. A long period of uncertainties might continue the slow increase trend of investments, taking into account that this situation stops the development of the countries with low, medium and higher income,” says the report.

Georgiana Bendre