romania economy 2020
Choosing this option will immediately limit the number of advertising This feature is limited to our corporate solutions. Comments Print Email Facebook Twitter LinkedIn WhatsApp. January 1, 2020. South Africa’s output is forecast to contract 7.1% this year, the deepest contraction in a century, as stringent but necessary containment measures curtail economic activity. The advent of the novel coronavirus had pushed major political parties to collaborate, but a looming parliamentary election has seen the return of political instability. Then, the EC slightly revised upwards its estimates regarding the Romanian economy in 2020, from 3.6% to 3.8%. According to the World Economic Outlook report released Tuesday, Romania’s unemployment rate is expected to jump to 10.1% in 2020, from 3.9% last year, before easing to 6% in 2021. Accessed October 31, 2020. https://www.statista.com/statistics/1107982/economic-challenges-romania/. Romania’s economy is projected to contract by 6% in 2020 after many years of robust growth, whereas the general government deficit is forecast to increase to around 9.2% of the GDP in 2020, according to the European Economic Forecast – Spring 2020, published by the European Commission (CE) on Wednesday. (2020). Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: Industry-specific and extensively researched technical data (partially from exclusive partnerships). Terms and Conditions GDP fell by 3.9% year-on-year in the first half of 2020, with private consumption down 5% and exports falling by 15%. The economy contracted by 4.7 percent in the second half of 2020, driven by a decline of 10.5 percent in the second quarter. Population, million. This information should not be behind a paywall, and we remain committed to providing our content for free. |

Countries across the continent implement new restrictions as cases and hospitalisations rise. Also, the unemployment rate rose to 5.4% in July 2020 from 3.7% in January 2020, with further job losses likely in the coming months as government support schemes are phased out, the EBRD said. As soon as this statistic is updated, you will immediately be notified via e-mail. Ms. Füsun Aramaz, Ambassador of the Republic…, PM Orban reiterates in Paris Romania’s firm commitment…, President Iohannis, Swiss counterpart Sommaruga tackle the stage…, Nestlé and Alliance for YOUth are to create…, The pandemic changes the medical priorities of Romanians, Demand in the industrial and logistics market continues…, ABS Financial Services, part of TotalSoft, takes over…, CMS appoints new Managing Partner in Bucharest, US Ambassador Zuckerman: Romania is on track to…, PM Orban says no increases in duties, taxes, Fondul Proprietatea requests new selection process for appointment…, UPDATE Scandal related to alleged electoral fraud in…, Declic petition: Over 10,500 persons request Prosecutor General…, President Iohannis to have working meeting with PM…, Giorgiana Hossu resigns as head of DIICOT, Romanian Gendarmerie’s head Bogdan Enescu, indicted for usurping…, USR PLUS’s Ciolos: Ludovic Orban is not the…, President Iohannis: Once the anti-COVID vaccine is available,…, Nicusor Dan, invested General Mayor: Bucharest has an…, Firea: PSD to call to Parliament PM Orban…, Romanian Army Day marked with ceremony at the…, Four Romanian troops of IED-stricken Afghanistan patrol mission…, U.S. Secretary of State Pompeo, ForMin Aurescu discuss…, DefMin Ciuca: We must stay vigilant for health…, Custodian of the Romanian Crown, Margareta, and Prince…, Korean Rice Food Exhibition aims to be a…, Culture Minister Gheorghiu supports translation of poet Mihai…, Maya Hawke, exclusive interview for American Independent Film…, European Commission: Romania’s economy to contract by 6% in 2020, ECHR: Romania violated Kovesi’s rights by dismissing her from DNA leadership before end of term. Please follow

Economic activity in the region is on course to contract by 2.8% in 2020, the deepest on record. Minister Aurescu, at OECD reunion, sends message of…, “Korea through the lenses of Romanian diplomats”: Special…, H.E. currently using. The ideal entry-level account for individual users. 75.4. According to the Community Executive, Romania’s general government deficit is forecast to increase to around 9.2% of the GDP in 2020 from a level of 4.3% of the GDP in 2019 and 2.8% of the GDP in 2018. Additionally, more than 1 million contracts were suspended, as the government promised to cover at least part of the partial unemployment claims. The World Bank also estimates that Romania will register an economic growth of 0.3% in 2020, compared to an increase of 3.8% as previously estimated, and a rebound of up to 4.4% shall take place in 2021. Latest news, market intelligence, industry analyses, on-demand research – the big picture at the tip of your fingers. China has failed to deliver investment on the scale that some imagined but its involvement in the region is significant. Economic forecast for Romania The Commission publishes a full set of macroeconomic forecasts for the EU and its Member States in spring (May) and autumn (November) and publishes interim forecasts updating GDP and inflation figures in winter (February) and summer (July). 249.6: GDP per capita, current US$ 12,902: Life Expectancy at Birth, years. Register in seconds and access exclusive features. Please consider making a recurring, France says it won't forget 'silence' of some states after teacher beheading, Poland rejects Presidency conclusions on Artificial Intelligence, rights, Brussels 'won’t stand in the way' of new nuclear plants, says EU climate chief, Hard-hit Belgium faces second COVID-19 lockdown, Everything but a full lockdown in Brussels, MEPs save 'veggie burger' from denomination ban, EU environment ministers strike deal on climate law, leave out 2030 target, Official: EU taking first steps to bring forestry into carbon market, IMF sees Romania economy falling 5% in 2020. A domestic lockdown and state of emergency were introduced in mid-March 2020, lasting until mid-May and severely affecting travel, economic  activity and consumer and business sentiment, the bank said in the October edition of the report. If you disable this cookie, we will not be able to save your preferences. Romania extended the state of alert introduced due to the coronavirus pandemic by 30 days as from September 15 due to a rise in the number of new infections. EURACTIV MEDIA NETWORK BV. Reactions. According to the World Economic Outlook report released Tuesday, Romania’s unemployment rate is expected to jump to 10.1% in 2020, from 3.9% last year, before easing to 6% in 2021. The debt-to-GDP ratio is forecast to rise from 35.2% in 2019 to around 54.7% in 2022. When compared to the first quarter of 2020… For 2021, the EC estimates that Romania’s economy will rebound, even if not at the level before the crisis, due to a boost of 4.2%. You have 10 free articles left this month.

You only have access to basic statistics. Get ahead of the competition with SeeNews Premium Access. Unlimited news and objective analysis you can trust, company data and more. The outcome sets the stage for a centre-right victory at Romania's parliamentary election on December 6th. Please authenticate by going to "My account" → "Administration". advertising cookies, you will need to take further steps. You need at least a Single Account to use this feature. Efficacité et Transparence des Acteurs Européens 1999-2018. Subscribe now and start making agile business decisions. The European Commission forecast comes a month after the International Monetary Fund (IMF) revised its estimates on the development of the Romanian economy this year significantly downwards, in the context of the novel coronavirus pandemic. According to the EC, from a record low of 3.9% in 2019, the unemployment rate is projected to increase to 6.5% in 2020 as some firms will inevitably close as a result of the COVID-19 crisis, although policy measures are expected to limit job losses. Then you can access your favorite statistics via the star in the header. Statista. Do you value EURACTIV’s reporting? Privacy Policy Facebook: number of monthly active users worldwide 2008-2020, Smartphone market share worldwide by vendor 2009-2020, Number of apps available in leading app stores 2020, Big Mac index - global prices for a Big Mac 2020, Research expert covering the Romanian market, Profit from additional features with an Employee Account. On Wednesday, Romania reported 2,158 new Covid-19 cases in the past 24 hours, the highest daily increase since the beginning of the pandemic, bringing the total count to 127,572. Efforts to suppress the coronavirus outbreak both in Romania and in major trading partners will have a large adverse effect on the domestic economy in 2020. October 14, 2020. We expect a full-year real GDP contraction of 6%.

Please consider making a recurring contribution to EURACTIV Media Network for Europe. The Labour Ministry data shows that more than 200,000 labour contracts have been terminated since the debut of the COVID-19 outbreak. The International Monetary Fund expects the Romanian economy to contract by 5% in 2020, a much harsher prediction than its ”sister” organisation, the World Bank, made just last week. Romania's OPCOM electricity spot volumes - Nov 01, 2020, Romania's OPCOM electricity spot prices - Nov 01, 2020, Bulgaria power consumption - Oct 30, 2020. Romania Economic News. Learn more about how Statista can support your business. Its overall score has increased by 1.1 points due to a higher government integrity score. Economic Indicators for Romania including actual values, historical data charts, an economic calendar, time-series statistics, business news, long term forecasts and short-term predictions for Romania economy. Romania: Decline in industrial activity softens in August, marking best reading in six months. However, the IMF estimates the recession will not last, as the 5% decline will be followed by economic growth of 3.9% in 2021. After robust growth of 4.1% in 2019, Romania is experiencing a recession in 2020, mainly due to lower consumption and a drop in exports, the EBRD said in its latest Regional Economic Prospects report. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful. Eurochambres, & Camera de Comerț și Industrie a României. The economy of Nigeria is expected to shrink by 3.2% this year, given the collapse in prices for oil.

According to the EBRD, Romania entered the Covid-19 crisis with a significant fiscal deficit of 4.3% of GDP in 2019. Romania. Moreover, uncertainty is expected to hurt investment decisions, however, net exports are projected to contribute positively to growth in 2020, which will start to reverse in 2021. Save my name, email, and website in this browser for the next time I comment. Get your free, Fitch affirms Romania at 'BBB-', outlook negative, Orange Romania's revenues fall 2.1% y/y in Q3, EIB lends 50 mln euro to Romania's CEC Bank, Romania's 9-mo budget gap widens to 6.36%/GDP on coronavirus spending, INTERVIEW: Pandemic forces SEE companies to step up business processes automation, Tenders, Electricity – Romania (Zalau County Emergency Hospital). the instructions in our cookie policy. This page has economic forecasts for Romania including a long-term outlook for the next decades, plus medium-term expectations for the next four quarters and short-term market predictions for the next release affecting the Romania economy. Coronavirus second wave hits Europe in force, Weekly brief: China is here to stay in eastern Europe, Weekly brief: western Europe’s stance on China hardens, WTO rules in favour of EU in Airbus-Boeing dispute, EU agrees on new sanctions against Belarus and Russia, Centre-right parties make major gains at local elections.

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