Current Account in Romania
Romania - Current AccountFollowing Q2’s stellar expansion, GDP growth decelerated in Q3, largely due to a fading base effect. Although a detailed breakdown is not yet available, solid—albeit softer—growth in retail sales, coupled with a low unemployment rate, hints at another healthy expansion in household spending. Meanwhile, industrial output rose at a markedly weaker rate, pointing to sluggish private sector activity in the quarter. Turning to Q4, although available data is limited, surging Covid-19 cases at the outset of the quarter and tighter curbs from early November bode ill for activity. In politics, a new coalition government made up of the ruling PNL party, center-left PSD and the ethnic Hungarian UDMR party received parliamentary support on 25 November, ending almost three months of political crisis. The new formation hands most power, including the finance ministry, to the PSD party, which favors increased public spending.
Romania - Current Account Data
|Current Account (% of GDP)||-1.2||-2.0||-3.4||-4.4||-4.6|
5 years of economic forecasts for more than 30 economic indicators.
Romania Current Account Chart
Source: National Bank of Romania.
|Bond Yield||4.49||0.23 %||Dec 31|
|Exchange Rate||4.26||-0.34 %||Dec 31|
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Romania: Romania’s new coalition government ends political crisis but raises concerns over fiscal consolidation
November 25, 2021
On 25 November, following two failed attempts, Nicolae Ciuca’s new coalition government won more than 70% of the vote in parliament, putting an end to nearly three months of political crisis after the fall of Florin Cî?u’s coalition government in early September.
November 17, 2021
The economy continued to grow, albeit at a softer pace, in the third quarter.
November 12, 2021
Industrial output tumbled to 3.3% in annual terms in September, contrasting the prior month’s 0.2% increase and logging the worst print in over a year.
November 11, 2021
Consumer prices soared 1.78% over the previous month in October, coming in well above September’s 0.84% rise and logging the highest print since May 2005.
November 9, 2021
At its 9 November meeting, the last for the year, the National Bank of Romania (NBR) raised the policy rate to 1.75% from 1.50%.