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Editorial - Exceeding expectations

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By Cristian Cojanu
Romania's economy enjoys good run. Better than expected. The National Statistics Board put the first quarter GDP growth at 4.2 per cent, while the Finance Ministry said the consolidated budget had an excess of 6.0 billion lei in the first four months of the year. Revenues amounted to 76.03 billion lei, representing 10.9 per cent of GDP, exceeding last year's January - April level by 12.1 per cent. In turn, the European Bank for Reconstruction and Development (EBRD) has improved its forecast on Romania's 2015 economic growth to around three per cent.
In a report released on the occasion of the Annual General Assembly of EBRD shareholders, the bank sees Romania’s economy accelerating further to 3.2 per cent in 2016. “Meanwhile, annual average inflation is expected to remain at an average of 0.5 per cent in 2015, on the back of June cuts in VAT on food products, as well as low inflation expectations and lower commodity prices,” the report added.
The European Commission’s spring 2015 economic forecast confirms that economic growth in Romania is expected to remain robust in 2015 and 2016, “driven by strong private consumption and recovering investment.”

To read the full version, see the print edition of Business Arena.

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