Romania will record an economic increase of 4.8% this year followed by a slowdown of 4.3% next year, according to new estimates by local lender Banca Transilvania.

Andrei Radulescu, the senior economist of Banca Transilvania, previously estimated a GDP increase of 5% for this year and 4.6% for 2017.

Even after revising the data, the estimates are significantly higher than those of other local lenders and international financial institutions. Most banks place Romania’s GDP growth at around 4% for 2016.

Romania is poised to have the highest economic growth after 2008 this year due to the higher internal demand, supported by the mix of economic politics, said Andrei Radulescu.

Romania’s economic growth accelerates to 4.3% in the first quarter

editor@romania-insider.com