IMF Predicts 6% Economic Growth for Romania in 2021, Second in EU

6% economic growth for Romania in 2021 – this is the latest estimation of the IMF economists for Romania, included in the World Economic Outlook report released in April. The prediction improved the former 4.6% estimation made in October.

Interesting enough, this prediction places Romania on the second position in the European Union, after Spain, which is seen with a growth of 6.4% in 2021. On the following positions by growth prediction stands France, with 5.8% and United Kingdom with 5.3%.

For 2022, the IMF foresees a growth of 4.8% for Romania. Moreover, for 2021 and 2022, IMF sees an unemployment rate going down from 5% to 4.9%.

One could view this estimations as optimistic, as the Romanian Government and the World Bank projected a 4.3% growth in 2021. World Bank offered the estimation in late March, when it also predicted a 4.1% economic growth in 2022.

Notably, both IMF and World Bank improved their initial projections, offered months before, in October 2020 and January this year respectively. This means that Romanian economy proves to be stronger than some expected, despite the crisis which causes a fall of the GDP of 3.9%.