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Romania

Author

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  • Andrei Rădulescu

Abstract

The Romanian economy accelerated in 2016, growing at the highest pace since 2008. This evolution was determined by the expansionary policy-mix, with positive impact on domestic demand. However, the acceleration of the economy within the post-crisis economic cycle has been accompanied by a deterioration of both public finance and current account over the past quarters. The recent macro-financial developments in Romania show that the domestic economy seems to be at the peak of the cycle. This is also confirmed by the overheated labour market (at the beginning of 2017 the number of unemployed and the unemployment rate decreased to their lowest levels since the 1990s). The post-crisis cycle and the deepening of the twin deficits are expected to continue in the mid-run. However, the likelyhood of a slowdown and soft landing of the economy towards the end of the decade is also increasing. Last, but not least, the risk factors in terms of stability and sustainability associated with public finance are on the upward trend, especially given the recently implemented measures and the signals regarding the short-run decisions in terms of fiscal and income policies.

Suggested Citation

  • Andrei Rădulescu, 2017. "Romania," Conjunctura economiei mondiale / World Economic Studies, Institute for World Economy, Romanian Academy, pages 173-178.
    • Handle: RePEc:iem:conjun:y:2017:p:173-178
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