Next year’s economic growth, which is estimated at 4%, could be a peak, and could go down to 3.5% in 2017, said the Fiscal Council president Ionut Dumitru.

The economy won’t be able to continue at the same pace, as it lacks public investments, and the economic growth that is based only on consumption is not sustainable in the long run.

This year, the country is estimated to have an economic growth of 3.7%, said Dumitru, cited by local Mediafax.

The cut in the VAT rate from 24% to 20% will be the peak of the fiscal relaxation measures.

“The National Prognosis Commission expects an economic growth close to 5% in the next years. For me this seems highly implausible because we lack investments,” Ionut Dumitru said.

editor@romania-insider.com