Over half of Romania’s investors estimate that the economy will continue to grow this year but at a slower pace compared to that in 2016 due to a decline in consumption, according to a survey conducted by local financial consultancy firm KeysFin among investors in Romania.

In 2016, consumption was the main engine that drove the economic growth of close to 5%. The economic evolution in 2017 is seen in a positive note, but most investors remain cautious.

In total, 53% of the managers surveyed by KeysFin estimate a GDP growth of 4-4.1% for this year whereas 28% expect a growth ranging between 4.2% and 5%. Only 13% of them estimate an economic growth below 4%.

According to the latest data from the National Statistics Institute (INS), Romania’s annual economic growth slowed down to 4.4% in the third quarter of 2016, down from an advance of 6% in the second quarter.

Most managers surveyed by KeysFin (62%) said that one of the main challenges of 2017 is a slowdown in consumption growth whereas 43% talked about the uncertainties related to economic developments worldwide.

editor@romania-insider.com