The Macroeconomic Confidence Indicator compiled by the CFA Romania Association based on a monthly survey among its members climbed to 74.5 points in May, a record for the last six years, the association announced on Monday, June 28.

Compared to the same month of the previous year, the indicator has increased by 38.4 points.

The CFA analysts’ average expectations point to a 6.1% increase in Romania’s GDP this year after a 3.9% contraction last year.

“The confidence indicator continued to reach new highs after the Covid-19 crisis. This evolution is consistent with the increase in economic growth expectations for 2021, to over 6%. However, the increase in domestic demand, combined with external factors, will also lead to an increase in the inflation rate,” commented Adrian Codirlasu, vice-president of the CFA Romania Association.

The CFA analysts do not expect a decline in the inflation rate over the next 12 months.

They also expect a depreciation of the local currency to RON 5.0183 for one euro in the next 12 months.

(Photo: Ognjen Stevanovic | Dreamstime.com)

andrei@romania-insider.com