The International Monetary Fund (IMF) estimates that Romania’s economy will increase by 5% this year and by 3.8% in 2017, according to the World Economic Outlook report published on October 4.

IMF’s forecast shows Romania as Europe’s fastest-growing economy. The European economy as a whole is expected to grow by 2% this year and by 1.8% next year while the economies in Emerging Europe should grow by 3.3% and 3.1%.

At global level, IMF estimates an economic growth of 3.1% in 2016 and 3.4% in 2017.

In the previous World Economic Outlook report released in spring, IMF estimated for Romania a growth of 4.2% in 2016 and 3.6% in 2017.

The new IMF forecast is even more optimistic than the one made by Romania’s National Prognosis Commission, which estimates an advance of 4.8% of the Romanian economy this year.

In the second quarter of this year, Romania’s economy rose by 6% year-on-year, and in the first half the economic growth was 5.2%, according to the National Statistics Institute (INS).

The full IMF World Economic Outlook is available here.

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editor@romania-insider.com