Romania's economy expanded by 0.9% year-over-year in 2024, according to flash estimates published on Friday, February 14, by the statistics institute INS. The figure is below the forecasts of the European Commission and the IMF.

In the fourth quarter of 2024, the economy grew by 0.7%, both on a gross basis and seasonally adjusted, compared to the same period in 2023. Meanwhile, compared to the third quarter of 2024, the GDP increased by 0.8% in real terms, Ziarul Financiar reported.

The economic performance in 2024 falls short of the expectations set by the European Commission and the International Monetary Fund (IMF). 

In November 2024, the EC forecasted a real GDP growth for Romania in 2024 of up to 1.4%, down from the 3.3% it had projected in the spring. The IMF also revised its forecast for Romania's economic growth in 2024, from 2.8% in April to 1.9% in its October report.

irina.marica@romania-insider.com

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