The Vienna Institute for International Economic Studies (wiiw) expects a growth of 4.4% for the 11 countries of Central and Eastern Europe (EU-CEE11) in 2022. Romania's performance (+4.3%) is seen just under the average.

However, Romania's combined growth in 2020-2021 (roughly 2.9% based on wiiw data and estimates) has been more robust than that in the other ten countries - except Estonia and Lithuania - which are still in recovery mode this year.

Overall, for the 2020-2022 period, Romania will maintain among the fastest growth rates in the region - with only the two Baltic countries outperforming it.

Another interesting feature is that while the region's average growth is gradually easing during 2022-2024 (to 4% in 2024), Romania's economy is gaining momentum to 4.8% GDP growth in 2024.

When it comes to the general government budget, one of Romania's key challenges, wiiw expects that the Government will bring the public deficit down to 3% of GDP in 2024 - which is the Government's target as well.

Romania had among the region's widest deficits in 2021 (smaller than Hungary's, Slovakia's and Latvia's though) and will have the widest gap in 2024. 

(Photo: Antonyesse/ Dreamstime)

iulian@romania-insider.com