The National Commission for Strategy and Forecast (CNSP) has revised downwards the estimates for the Romania’s economic growth for 2019, in the lower vicinity of the level of 4.0%, compared to 5.5% as estimated in the Spring Forecast, taking into account sectorial statistical data of the national accounts available for the first semester of the current year.

Also, CNSP also lowered the forecast for 2020, to 4.1%, compared to 5.7%, as was the case in the spring version.

“In the medium term, the economic growth will remain high compared to the EU average (1.4%), ensuring the continuation of the real convergence process towards the European average. For the period 2021-2023 the average annual rate of gross domestic product (GDP) is of about 4.2% in real terms,” is shown in a statement of the institution quoted by Agerpres.

According to the quoted source, the potential of the Romanian economy remains slightly higher than the forecasted level of the effective GDP, a situation generated by the evolutions of the previous period.