Romania’s economy will grow by 4.2% this year and by an average 4.5% per year in the next three years (2017-2019), according to finance minister Anca Dragu.

She is optimistic about Romania’s economic evolution despite the international financial institutions’ decision to cut their estimates of Romania’s GDP growth for the next years.

“Romania has a solid economic growth. For this year we estimate a 4.2% increase, and for 2017,2018, and 2019 we estimate an improvement of this indicator to an average 4.5% per year,” Anca Dragu said at the World Credit Congress & Exhibition (WCCE), which takes place in Bucharest this week, reports local Agerpres.

She added that the international financial institutions are more pessimistic in their estimates over longer periods.

The finance minister also said she trusted the National Prognosis Commission’s estimates more, because this institution had more insights into the local economy’s particularities. The Prognosis Commission sees the local economy growing by 4.2% in 2016, 4.3% in 2017, and 4.5% in 2018.

Meanwhile, the World Bank recently reduced its estimate for Romania’s economic growth in 2017 and 2018 to 3.7% and 3.4%, down by 0.4 percentage points, respectively 0.6 pp, compared to the previous forecast in January. The European Commission and the International Monetary Fund also expect Romania’s economy to decelerate to 3.6-3.7% next year.

editor@romania-insider.com