The World Bank has revised up by 0.1% Romania’s economic growth prognosis to 3%. It has kept its prognosis for 2016 at 3.2%, whereas it has revised down by 0.4% the estimation for 2017, to 3.5%.

The World Bank estimates an economic growth of 1.8% this year for the Europe and Central Asia region, which includes Romania, compared to 2.4% last year. The decrease is due to lower oil prices, geopolitical tensions and recession in Russia and Ukraine, according to the report.

The banking systems in Romania, Albania, Bulgaria and Macedonia are vulnerable to contagion through Greek banks’ local subsidiaries.

editor@romania-insider.com