The International Monetary Fund (IMF) said on Tuesday, that Romania’s economy will grow by 6% in 2021, increasing its forecast for a 4.6% growth made in October, according to seenews.com.
The April edition of the World Economic Outlook (WEO) report states that the IMF expects Romania’s economy to grow by 4.8% in 2022.
The IMF estimated Romania’s economy contracted by 3.9% in 2020.
Romania’s current account deficit is forecast to fall to 5% of GDP in 2021, from 5.1% in 2020. In 2022, the current account gap is seen narrowing to 4.7%, according to the report.
Inflation is seen increasing to 2.8% in 2021 from 2.6% in 2020 and in 2022, the IMF sees inflation slowing to 2.1%.
Unemployment in Romania is projected to edge down to 4.9% at the end of 2021, from 5% in 2020. In 2022, the unemployment rate is projected to remain at 4.9%.
The IMF said it expects the GDP of the Emerging and Developing Europe area comprising Romania, Russia, Turkey, Poland, Ukraine, Hungary, Belarus, Bulgaria, Serbia and Croatia to grow by 4.4% in 2021 and by 3,9% in 2022.
Romania’s government is targeting 4.3% economic growth in 2021.