EBRD downgrades forecast on Romania's economic development in 2020 and 2021

The European Bank for Reconstruction and Development (EBRD) has downgraded its estimates regarding the economic development of Romania in 2020 and 2021, as a result of the crisis triggered by the coronavirus pandemic, reads a report published on Thursday by the financial institution.

According to the most recent forecast of the EBRD, Romania's economy is expected to eye a drop of 5 per cent this year, compared with a drop of 4 per cent as estimated in May.

For 2021, EBRD expects a growth of 3 per cent in Romania's GDP, compared with 4 per cent as estimated in May.

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