Page 45 - bne IntelliNews SE Outlook Regions 2024
P. 45
The Romanian government recently cut its estimate for 2023 growth to 2% but expects robust advances in the next two years of 3.4% and 4.2% respectively.
The International Monetary Fund (IMF) sketched a moderately optimistic scenario for Romania’s economy in 2024, including 2.75% GDP growth (2.25% in 2023) and a 5.1% of GDP public deficit (6% of GDP in 2023), in the Conclusions of its regular Article IV Consultations published in December.
In the long term, the Fund noted significant room to underpin real income growth and further convergence with Western Europe. But this requires investment in physical infrastructure as well as people, and strengthening the efficiency of the state (public administration).
2.9.2 Industrial production
Romania's industrial production contracted by 5.1% y/y in the 12 months to November 2023, with the core manufacturing industries showing a somewhat slower decline of 4.5% y/y.
45 SE Outlook 2024 www.intellinews.com
