RSS
CFA expects the economy to grow to over 4% this year
Almost half of the members of CFA expect that the economy grows by over 4% this year over the average of the market which estimates growth of the GDP of 2.8%, stated Mihai Purcarea, member of the Board of CFA Romania, at the event online ‘ Economic recovery after one year of pandemics,2021 estimates’ organised by CFA Society Romania.
For this year, the expectations on the market for the foreign currency exchange at the end of the year is 4.94 lei/euro. The CFA members expect a foreign currency exchange similar to 2021, namely 69% of them estimate an exchange rate of 4.9-5 lei/euro. At the same time, 19% of the participants in the survey expect an exchange rate of 5 – 5.1 lei/ euro, and 3% over 5.1 lei/euro.
The Robor interest at three months could reach at the end of December this year 1.5-2% according to 44% of participants in the CFR study.
The indicator BET-XTTotal Return could get growth between 0 and 10% according to 38%of the participants.
The budget this year has a decent deficit for our times,insuring strong investments for the economic recovery, stated Anca Dragu, the chairman of the Senate, present at the online event ‘ Economic recovery after one pandemics year. Estimates for 2021’ organised by CFA Society Romania.
‘This buget deficit is projected at 7.16% of GDP.It is big for common times, but we do not expect common times now. For our times,pandemics and recovery after an economic crisis and severe health, this budgetary deficit insures the economic recovery of Romania. If we look around,this high levelof deficit is in line with other European countries, with the EU in general. So we are not outside the group of countries in the EU.The good news is that the budgetary deficit of this year is below that of last year, which reached almost 10% of GDP. Surely, the high level of last year was negatively influenced by the pro-cyclic fiscal policy of the last three –four years. So, the budgetary deficit of this year is in line with what happens in the neighbouring countries and what is most important is focuses on investments,We have investments of over 5 -5.5 % of GDP which is less than 2.5 of GDP.It is a budget with a decent deficit taking into consideration the times we have. It insures stong investnts for recovery, on the one hand, but at the same time, to help the different sectors of the economy affected by crisis, I am referring to services, tourism, all services affected by the pandemics’ Anca Dragu said.