Romanian Economy Expected to Recover in 2021, Unemployment to Grow

European Commission expects the Romanian economy to recover in 2021, along with all the other European countries, but the unemployment is expected to grow to an unprecedented level.

The Romanian economy is predicted to fall with 5.2% in 2020, but to recover with a growth of 3.2% in 2021. The prediction was made by the European Commission in the latest release on the European economies.

Romanian economy is expected to fall harder than the Polish one, for example, which is estimated to decrease with only 3.6% this year and to grow again in 2021 with the same percentage as the Romanian one.

The unemployment, though, as mentioned in the European Commission’s document, is expected to grow during the next year as well for Romania. Since the joining to the European Union, Romanian unemployment decreased, with little exceptions, down to 3.9% in 2019. Now, the predictions are gloomy. In 2020, the unemployment is predicted to raise up to 5.9% and to continue to raise higher in 2021, when it will reach, according to the estimations, 6.2%.