EC upwardly revises estimates of Romania's 2019 economic growth at 4pct

The European Commission has upwardly revised its 2019 economic growth forecast for Romania at 4pct, from 3.3pct in May 2019. 

The European Commission published on Wednesday its summer 2019 economic forecasts. 

The strong growth of real GDP in the first quarter led to an upward revision of growth for the whole year. Annual real GDP growth is forecast to mildly ease to 4pct in 2019 and 3.7pct in 2020. However, the composition of growth is expected to become somewhat more balanced as total investment strengthens with a pick-up in private investment, according to the forecasts. 

Romania's annual headline inflation is expected to average 4.2pct in 2019, before decelerating to 3.7pct.