Romania’s economy has been undergoing something of a boom – although corruption is said to do significant damage, and there have been warnings that political uncertainty is now posing a new threat, following the largest protests since the end of communism.
Strong private consumption, fuelled by more money in people’s pockets and deflation, has helped contribute to solid annual growth – and the economy is expected to grow faster than most other places in south-eastern Europe.
The European Commission, the European Bank for Reconstruction and Development (EBRD), and the International Monetary Fund (IMF) have all significantly improved their forecasts for the country’s performance.
Economic perspectives are good, but it's time to start building the nest egg for when the hard times return… https://t.co/HBK0o7FX6H— Romania-Insider.com (@romania_insider) November 5, 2015
GDP is expected to grow at 3.5 percent this year, while unemployment has been coming down, to 6.7 percent in 2015.
Growth is expected to rise again next year to 4.1 percent, while it’s thought the number of people out of work will continue declining by a tenth of a percentage point each year – to 6.6 percent in 2016, 6.5 percent in 2017.