Romania can have 5 percent economic growth on medium term (Lothe, BRD)
Romania might reach an economic growth of 5 percent on medium term, BRD - Groupe Societe Generale Bank (BRD-GSG) CEO Philippe Lhotte told Agerpres on Wednesday.
'A 2.5 to 3 percent growth is possible in 2014. I think that when it comes to Romania's medium and long-term potential, it would not be unrealistic to hope reaching a 5 percent growth. Not this year, by all means, nor in 2015, but on medium term Romania needs an ever higher economic growth,' Lhotte said.
The European Commission has improved again on May 5 its forecasts on Romania's economic growth in 2014 and 2015; the figures now are 2.5 percent and 2.6 percent respectively, up from 2.3 and 2.5 percent in EC's February forecast. It is the second time the European executive raises its estimates, as the winter figures were already adjusted upwards from the autumn prognosis of 2.1 percent growth in 2014, and 2.4 percent in 2015.
The World Bank also estimated a 2.5 to 3 percent growth of Romania's economy in 2014, possibly higher if the agriculture has a good year, as World Bank's Country Representative for Romania Elisabeta Campanelly said in an interview to AGERPRES.
On April 14, Prime Minister Victor Ponta announced a Q1 growth of more than 3 percent.
In 2013, Romania's economy topped the expectations, with a 3.5 percent growth due to a robust industrial production and to great crops fuelling the exports.