Romania’s economy surpasses that of Czech Republic after 4.1% growth in 2019

Romania’s Gross Domestic Product (GDP) increased by 4.1% to RON 1.05 billion (EUR 222 bln) in 2019, according to preliminary data published by the local statistics office INS, quoted by Romania-Insider.com.

Thus, Romania’s economy surpassed that of Czechia, reaching the 13th place in the European Union (EU) in 2019, after surpassing Greece in 2017 and Portugal in 2018, according to Andrei Radulescu, chief economist of Banca Transilvania, local Economica.net reported.

The Government hopes for 4.1% GDP growth this year as well, but independent analysts are more conservative. Banca Transilvania estimates that the domestic economy could grow at an average annual rate of 3.8% between 2020-2022, an evolution supported by the continuation of investments (average advance of 5.4%) and the improvement of the net external demand.

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