Romania’s National Prognosis Commission lowered its estimate for the local economy’s growth this year, from 6.1% to 5.5%.

The commission also revised downwards its domestic consumption growth estimate, from 6.3% to 5.4% while keeping the investment growth forecast unchanged at 7.9%.

The European Commission also worsened its economic growth forecast for Romania this year, to 4.1% from the previous level of 4.5%.

In the first quarter of this year, the local economy grew by 4%, according to data from the National Statistics Institute (INS). Last year, Romania’s economy increased by 6.9%, mainly driven by higher domestic consumption.

editor@romania-insider.com