Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. CFA Romania analysts estimate 2.3pct economic growth this...

CFA Romania analysts estimate 2.3pct economic growth this year

May 26, 2022

CFA Romania analysts estimate an economic growth of 2.3pct this year, down from previous forecasts, according to a press release of the organization sent on Thursday."Against the background of the risk aversion triggered by Russia's invasion of Ukraine, as well as high inflation, the anticipation component of the CFA Romania's macroeconomic confidence indicator continued to decline in April. Moreover, inflation expectations also continued to rise, with the forecast inflation rate reaching a historic maximum of the poll. In terms of the evolution of interest rates, the participants in the survey anticipate further interest rate increases by the National Bank in the next 12 months," said Adrian Codirlasu, vice president of the CFA Romania Association.According to the same source, the macroeconomic confidence indicator of the CFA Romania association remained constant, at 40.9 points. This situation was due to the divergent development of the two components of the indicator. The anticipated inflation rate for the 12-month horizon continued to rise, reaching an average of 8.43pct, as answers were provided prior to the publication of the quarterly inflation report.Regarding the euro/leu exchange rate, more than 82pct of the participants anticipate a depreciation of the leu in the next 12 months (compared to the current value), with no appreciation opinion recorded. Thus, the average value of the estimates for the 6-month horizon is 5.0048 lei for one euro while for the 12-month horizon the average value of the anticipated exchange rate is 5.0584 lei for one euro.The organization also notes a further decline in the share of respondents who believe that residential real estate prices in major cities will increase in the next 12 months (13.0pct, the lowest level since November 2020), at the same time with the increase in the share of participants who believe that the price will decrease (47.8pct, the highest share in November 2020). At the same time, 73.9pct of survey participants consider residential property prices in major cities to be overvalued.Regarding the deficit of the state budget anticipated for 2022, the average value of anticipations increased to 6.9pct. The evolution, in real terms, of the GDP in 2022, decreased to 2.3pct compared to 5.9pct, as previously forecast.

The text of this article has been partially taken from the publication:
ActMedia
Read in full - click here
Iohannis, în Tirana: Romania is ready to continue supporting EU efforts to combat illegal migration along Western Balkan routes

Although Romania is not on the Western Balkan migration route and is not "a relevant source" of migrant flows within the EU, our country is ready to continue supporting the EU's efforts to combat illegal migration, President Klaus Iohannis told the EU - Western Balkans summit in Tirana on Tuesday."As far as migration is concerned, […]

Austria officially said "No" to Bulgaria and Romania in Schengen

Austrian Chancellor Karl Nehammer stated that Austria opposes the accession of Bulgaria and Romania to the Schengen area. He made this statement during the EU-Western Balkans summit in Tirana, https://www.novinite.com/ reports.   "The Minister of the Interior made it clear. There is no approval from Austria for the enlargement with Bulgaria and Romania. More time is needed. We have 75,000 unregistered illegal immigrants in Austria. […]

Chief of the Defense Staff, visit to Portugal: Situation on NATO's Eastern Flank on agenda of discussions

  Chief of the Defense Staff, General Daniel Petrescu was on an official visit to Portugal, Sunday to Tuesday, at the invitation of his counterpart, Admiral Antonio Manuel Fernandes da Silva Ribeiro, the officials analysing, in context, the regional security situation.The visit also included meetings with the Portuguese Minister of National Defense, Maria Helena Chaves […]

Interreg VI-A Romania- Bulgaria approved by European Commission

Interreg VI-A Romania- Bulgaria programme was approved by the European Commission, the Romanian Development Ministry announced. The programme has a budget of over 200 million euros and is devoted to communities from seven Romanian counties and eight Bulgarian districts.   The Development, Public Works and Administration Ministry declared, in a press release, that the Programme […]

Draft budget for next year is built on economic growth of 2.8%

The draft budget for next year is configured on an economic growth of 2.8%, in the context in which the economic shock caused by the pandemic is one of the most significant in recent history, shows the draft state budget law for 2023 published on Tuesday by the Ministry of Finance.The gross domestic product in […]

INSCOP poll: The majority of Romanians believe Romania of tommorrow will look better

A survey carried out by INSCOP Research reveals that the majority of Romanians believe that the Romania of tomorrow led by today's children will look better, as 54pct of the respondents shared this particular opinion, while 25.2pct said the situation in the country will get worse when led by the children today and 15.7% say […]