BT expects quick, robust post-COVID recovery in Romania

Romania’s economy is already recovering after the lockdown shock in April, and the GDP will return next year to the level reached in 2019 (EUR 220 billion), according to Andrei Radulescu, chief economist of the country’s biggest bank – Banca Transilvania, Ziarul Financiar reported. 

He expects average economic growth of 2.5% per year for 2020-2022, says

His forecast is among the most optimistic voiced by independent analysts over the past couple of months after the coronavirus outbreak in Europe. The European Commission forecast 6% GDP contraction for Romania’s economy this year and incomplete recovery (+4.2%) in 2021.

The interest rates on local currency loans will decline, and the exchange rate will remain stable; therefore, we witness a historic chance for a new investment cycle, Radulescu commented.
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