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The European Bank for Reconstruction and Development (EBRD) has worsened its estimates of Romania’s economic evolution in 2020 as a result of the crisis caused by the coronavirus pandemic (COVID-19), according to a report published on Wednesday by the financial institution. international, writes agerpres.ro.
According to the latest EBRD forecasts, the Romanian economy would record a 4% decline this year, compared to a 3.2% advance forecast in November 2019. By 2021, the EBRD expects a 4% GDP expansion from Romania
The European Commission has also worsened its estimates for the Romanian economy this year and predicted that Romania will register a significant decrease of 6%, after several years of robust growth, while the government deficit is expected to reach 9.2% of the GDP this year. According to the spring economic forecast, published on May 6 by the European Commission (EC), by 2021, Romania’s economy will recover, even if it is not at the pre-crisis level, thanks to an advance of 4.2 %.
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In turn, the International Monetary Fund (IMF) revised downwardly the estimates on the evolution of the Romanian economy this year, in the context of the coronavirus pandemic, shows the latest report “Prospects for the world economy”, published in mid-April by the international financial institution.
If in October last year, the IMF estimated that Romania will register a 3.5% advance in 2020, according to new forecasts, the international financial institution expects the Romanian economy to register a 5% contraction in 2020 and recover in 2021 , when it will register an advance of 3.9%.
The new IMF estimates are much more pessimistic than those of the World Bank, which, a week earlier, predicts that Romania will register economic growth of 0.3% in 2020, compared to a 3.8% advance as previously estimated. . with three months the World Bank also has a recovery of up to 4.4% in 2021.
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