The European Bank for Reconstruction and Development (EBRD) has improved the forecast on Romania’s economic growth in 2016 from 4% to 4.8%, according to a EBRD report published on November 3.

In 2017, the economic growth would slow down to 3.7%. By comparison, the bank estimated in May an advance of 3.5% for next year.

"Economic growth in Romania continued to accelerate from 3.7% in 2015 to 5.2% in the first half of 2016 driven by domestic demand. (...) Consumption will be further supported by the wage increase in the healthcare sector in August 2016 and lower employees' social contributions from next year,” according to the report.

editor@romania-insider.com