The Romanian economy would register an advance of 4.3% this year, after a contraction estimated at 3.9% in 2020, and in 2022 economic growth will be of 4.1%, according to the latest report on perspectives of the world economy published by the World Bank.
By contrast, in January, the World Bank forecast that Romania’s GDP will contract by 5% in 2020, will increase by 3.5% in 2021 and by 4.1% in 2022.
The Romanian economy performed better than expected, contracting by 3.9% in 2020. A proactive but limited fiscal response of 4.4% of GDP helped companies retain their employees and fueled household incomes, shows the report quoted by Agerpres.
Economic growth is expected to recover to 4.3% in 2021, supported by improved economic activity in the second half of 2021.