World Bank Lifts Romania's 2015 Growth Forecast To 3%

06.11.2015 By Bogdan Neagu

The World Bank slightly upgraded Romania’s economic growth forecast to 3% in 2015, from 2.9% seen previously, according to the latest World Economic Prospects report released Thursday.

For 2016, the World Bank kept the gross domestic product growth estimate unchanged at 3.2%, but cut the 2017 forecast to 3.5% from 3.9%.

For the Europe and Central Asia, the region that includes Romania in the report, the growth prospect is seen at 1.8% in 2015, down from 2.4% last year, due mainly to the lower oil price environment, geopolitical tensions and recession in Russia and Ukraine.

Most analysts are revising upwards their growth estimations for Romania’s economy this year after a better-than-expected reading in the first quarter.

Romania’s GDP grew 4.3% on the year in the January-March period, and it was 1.6% higher in seasonally adjusted terms against the fourth quarter of 2014.