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IMF raises the Romanian economy's growth to 5.1% in 2018, compared with 4.4% in the previous estimate

By Jerom Bolt
The International Monetary Fund has revised its estimates for the evolution of the Romanian economy this year, from 4.4% to 5.1%, according to the latest World Economic Outlook, published on Tuesday by the international financial institution.
According to the document on the outlook for the global economy, Malta and Romania will record the largest economic growth in Europe this year, of 5.7% and 5.1%, respectively.
Overall, Europe will see economic growth of 2.7% in 2018 and 2.3% in 2019, and Emerging Europe, including Romania, will record a 4.3% GDP growth in 2018 and of 3.7% in 2019.
'Growth prospects for emerging Europe, now estimated at around 6% in 2017, would moderate to 4.3% in 2018 and 3.7% in 2019, backed by favorable external environment, advantageous financial conditions and stronger demand for exports from the euro area, 'the IMF highlights in the World Economic Outlook.
As regards the evolution of consumer prices in Romania this year, the estimates of the international financial institution have been revised upwards to 4.7%, from 3.3% as estimated in October, with the pace of rising prices to dampen in 2019 to 3.1%.
The IMF also revised its current account deficit projected by Romania to 3.7% of GDP in 2018 (from 2.9% of GDP projected in October). For next year, the institution expects the current account deficit to stand at 3.7% of GDP.
On the other hand, the IMF revised downwards estimates of the unemployment rate in Romania, which is expected to be 4.6% this year, compared to 5.2% previously estimated. Also, in 2019 the unemployment rate will be 4.6%, according to the forecast of the world financial institution.
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