Transylvania Today: Romania could fall into recession following the electoral cycle

Autor: Claudiu.Padurean din 20 septembrie 2019, Vizualizari: 592

Transylvania Today: Romania could fall into recession following the electoral cycleRomanian economy could fall into recession at the beginning of 2021, following the electoral cycle, due to unsustainable deficits, according to Ionut Dumitru, chief economist at Raiffeisen Bank Romania, quoted by Business-Review.eu.


“We expect that by the end of 2020, the beginning of 2021, rather, the economy will perform worse and enter into recession. Of course, entering the recession also depends on the international context and how it will be reflected in the Romanian economy,” Dumitru said, cited by economica.net.

 

The economist forecasts that the Romanian economy will grow by 4 percent this year and by 3 percent in 2020, while the budget deficit will reach 3.6 percent of GDP this year due to surging spending on wages and pensions, according to TransylvaniaToday.ro.
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