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Liberal warns Romania will enter economic crisis, according to Prognosis Commission


Liberal senator Florin Citu (PNL) said that official data of the National Strategy and Prognosis Commission contradict the propaganda of the coalition government because they show that Romania is going toward the economic crisis.

“The economy brakes suddenly. Economic growth 40% lower than in 2016 and 40% than CNP estimate used in the budget. 2016= 6%, 2017=6%, 2018= 4%. No propaganda can hide the truth. PSD+ALDE= big domestic and foreign deficits= big inflation = high interest rates= economic crisis”, Citu wrote on Facebook.

On July 19, CNP reduced, in the summer 2018 prognosis, the GDP increase estimated for this year, from 6.1% to 5.5%, next ton an average euro exchange rate identical to the one of the spring variant - 4.65 lei and a higher inflation.

The average annual inflation rate for 2018 was reviewed from 2.8% in the last prognosis, to 4.7%, to drop to 2.8% (compared to 2.5%) in 2019 and to 2.5% (compared to 2.4%) in 2021.

CNP modified estimated for GDP in 2018 compared to the previous prognosis. They are now 5.5% compared to 6.1%, as previous estimates showed. For the rest, data remained identical indicating increases of 5.7% in 2019, 5.7% in 2020 and 5% in 2021. For 2022 a GDP increase of 5% was estimated.

Projections referring to current account deficit were partially reviewed, the figures sent indicating 3.1% this year, 2.8% in 2019, 2.6% in 2020 (compared to 2.5%) and of 2.3% in 2021 (against 2.4%). A current account deficit to 2.1% is foreseen for 2022.