The inflation rate continued to grow in
\nRomania in September as well, when it passed 6%, 1% higher than in the previous
\nmonth. Official data indicate that this growth occurred amid rising prices for food
\nand non-food products and services. The highest price hikes were recorded last
\nmonth for potatoes, which are almost 19% more expensive, other vegetables and canned
\nvegetables, citrus fruit and other exotic fruit and the category called other
\nservices. However, the biggest price hikes since the beginning of the year
\nwere in electricity costs, which rose by 23%, and natural gas, by 20%, costs
\nthat exploded across the European market. <\/p>\n
<\/p>\n
\n
\n
\n
<\/p>\n
National Bank experts recently said they
\nwere expecting the rising costs of electricity and natural gas to continue to
\npush the annual inflation to significantly higher figures than those forecast
\nearlier. In an attempt to keep the inflation rate in check, the National Bank
\nof Romania increased the reference interest rate to 1.5% per year, after almost
\none year of stagnation. The central bank now expects the inflation rate to
\nreach 5.6% by the end of the year. More bad news comes from the National
\nInstitute for Statistics, which says that in the first eight months of the
\nyear, Romania’s trade deficit rose by over 3 billion euros compared with the
\nsame period in 2020. <\/p>\n
<\/p>\n
\n
\n
\n
<\/p>\n
Also, the International Monetary Fund
\nwarned that the post-pandemic economic recovery remains hesitant, with developing
\neconomies suffering the most. According to the Fund, growth was affected by low
\nvaccination rates and the rising cost of food and goods. Bigger than expected delays
\nin the supply of distribution networks are leading to rising inflation rates
\nand the lower growth rates forecast for this year globally. The International Monetary
\nFund has improved, however, its estimates with respect to the performance of
\nthe Romanian economy, expecting it to grow by 7% this year, from 6% in its
\nprevious spring forecast. <\/p>\n
<\/p>\n
\n
\n
\n
<\/p>\n
According to its latest World Economic Outlook
\npublished on Tuesday, the Fund also expects Ireland (13%), Estonia (8.5%) and
\nHungary (7.6%) to see higher economic growth rates than Romania this year. With
\nrespect to 2022, however, the Fund has maintained its forecast concerning the
\ngrowth of Romanian economy at 4.8%. Beyond 2022, the growth rate of the
\nRomanian economy is expected to slow down, to only 3.5% in 2026. The World Bank
\nalso recently improved its outlook with respect to Romanian economy, forecasting
\na GDP growth of 7.3% this year and 4.8% next year. (CM)<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"
Difficult times ahead for Romanians, judging by latest macroeconomic indicators.<\/p>\n","protected":false},"author":105,"featured_media":88534,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37738],"tags":[29212],"coauthors":[],"class_list":["post-90095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-today-in-the-news","tag-economy"],"acf":[],"yoast_head":"\n