Romania Growth to Remain Above 3%

Romania has made significant progress in balancing its macroeconomic figures and in consolidating  public finances, but there’s a risk that the fiscal easing might bring a deterioration of the government’s fiscal perspective, says the annual report of the rating’s agency Moody’s Investors Service, Business Review reported. “The strong points of Romania’s credit are represented by the moderate level of the public debt burden and the improvement of the institutional framework, based on the continuation of the EU integration process. Other strong points are the favorable perspectives on the medium term and the country’s economic competitiveness,” said Simon Griffin, vice-president of Moody’s and co-author of the report. For the next two years, Moody’s expects an average growth of Romania’s economy almost at 3-4% annually. This year the GDP would accelerate to 4.8% as a result of the solid fiscal stimulus and then reach a more sustainable rhythm, of 3.7% in 2017 and 3.3% in 2018.