|
| Output and prices |
(Annual percentage change) |
| Real GDP |
-0.8 |
1.1 |
0.6 |
3.5 |
3.0 |
3.8 |
4.2 |
3.6 |
| Contributions to GDP growth |
|
| Domestic demand |
-0.7 |
1.1 |
-0.4 |
-0.1 |
3.2 |
5.3 |
6.2 |
4.8 |
| Net exports |
-0.1 |
-0.1 |
1.1 |
3.6 |
-0.2 |
-1.5 |
-1.7 |
-1.2 |
| Consumer price index (CPI, average) |
6.1 |
5.8 |
3.3 |
4.0 |
1.1 |
-0.6 |
-0.4 |
3.1 |
| Consumer price index (CPI, end of period) |
8.0 |
3.1 |
4.9 |
1.6 |
0.8 |
-0.9 |
1.5 |
3.4 |
| Core price index (CPI, end of period) |
4.1 |
2.4 |
3.3 |
-0.2 |
1.1 |
-3.1 |
2.6 |
3.6 |
| Producer price index (average) |
4.4 |
7.1 |
5.4 |
2.1 |
-0.1 |
-2.2 |
… |
… |
| Unemployment rate (average) |
7.0 |
7.1 |
6.8 |
7.1 |
6.8 |
6.8 |
6.4 |
6.2 |
| Nominal wages |
2.5 |
4.9 |
5.0 |
5.0 |
5.3 |
8.5 |
9.4 |
7.1 |
| Public sector wages |
-10.8 |
-2.5 |
6.8 |
11.9 |
2.3 |
10.1 |
16.1 |
5.5 |
| Private sector wages |
7.4 |
7.2 |
4.4 |
3.2 |
6.1 |
8.0 |
7.8 |
7.5 |
| Saving and Investment |
(In percent of GDP) |
|
| Gross domestic investment |
26.8 |
27.9 |
26.8 |
25.6 |
25.2 |
25.6 |
24.6 |
24.8 |
| Gross national savings |
21.8 |
22.9 |
22.1 |
24.5 |
24.8 |
24.5 |
22.9 |
22.3 |
| General government finances 1/ |
|
| Revenue |
31.6 |
32.1 |
32.4 |
31.4 |
32.0 |
32.8 |
30.7 |
29.5 |
| Expenditure |
37.9 |
36.3 |
34.9 |
33.9 |
33.9 |
34.2 |
33.5 |
32.3 |
| Fiscal balance |
-6.3 |
-4.2 |
-2.5 |
-2.5 |
-1.9 |
-1.5 |
-2.8 |
-2.8 |
| External financing |
2.8 |
2.7 |
3.2 |
2.1 |
1.9 |
-0.5 |
1.0 |
1.3 |
| Domestic financing |
3.5 |
1.5 |
-0.8 |
1.4 |
1.2 |
1.1 |
1.5 |
1.5 |
| Primary balance |
-5.0 |
-2.8 |
-0.7 |
-0.8 |
-0.4 |
-0.2 |
-1.5 |
-1.3 |
| Structural fiscal balance 2/ |
-6.1 |
-3.4 |
-1.7 |
-1.7 |
-0.5 |
-0.7 |
-3.0 |
-2.7 |
| Gross public debt (including guarantees) |
30.5 |
33.9 |
37.6 |
38.8 |
40.5 |
39.3 |
39.5 |
40.1 |
| Money and credit |
(Annual percentage change) |
|
| Broad money (M3) |
6.9 |
6.6 |
2.7 |
8.8 |
8.4 |
9.3 |
9.5 |
8.0 |
| Credit to private sector |
4.7 |
6.6 |
1.3 |
-3.3 |
-3.3 |
3.0 |
4.1 |
4.6 |
| Interest rates, eop 3/ |
(In percent) |
|
| NBR policy rate |
6.25 |
6.0 |
5.25 |
4.0 |
2.50 |
1.75 |
1.75 |
… |
| NBR lending rate (Lombard) |
10.25 |
10.0 |
9.25 |
7.0 |
4.75 |
4.25 |
3.25 |
… |
| Interbank offer rate (1 week) |
3.6 |
6.0 |
5.9 |
1.8 |
0.7 |
0.6 |
0.4 |
… |
| Balance of payments |
(In percent of GDP) |
|
| Current account balance |
-5.1 |
-4.9 |
-4.8 |
-1.1 |
-0.5 |
-1.1 |
-1.7 |
-2.5 |
| Merchandise trade balance |
-7.6 |
-7.0 |
-6.9 |
-4.0 |
-4.2 |
-4.8 |
-5.6 |
-6.3 |
| Capital account balance |
0.2 |
0.5 |
1.4 |
2.1 |
2.6 |
2.4 |
1.5 |
1.4 |
| Financial account balance |
-2.0 |
-2.0 |
-2.6 |
-3.0 |
0.1 |
0.8 |
-0.6 |
-1.7 |
| Foreign direct investment balance |
-1.8 |
-1.3 |
-1.9 |
-2.0 |
-1.8 |
-1.7 |
-1.8 |
-1.8 |
| International investment position |
-62.3 |
-64.2 |
-67.8 |
-61.7 |
-56.9 |
-50.9 |
-48.6 |
-46.5 |
| Gross official reserves |
28.3 |
27.9 |
26.5 |
24.6 |
23.6 |
22.1 |
21.9 |
21.7 |
| Gross external debt |
72.9 |
74.0 |
74.6 |
68.0 |
63.1 |
56.7 |
58.7 |
56.6 |
| Exchange rates 3/ |
|
| Lei per euro (end of period) |
4.3 |
4.3 |
4.4 |
4.5 |
4.5 |
4.5 |
4.5 |
… |
| Lei per euro (average) |
4.2 |
4.2 |
4.5 |
4.4 |
4.4 |
4.4 |
… |
… |
| Real effective exchange rate |
|
| CPI based (percentage change) |
2.0 |
2.9 |
-6.0 |
4.7 |
0.2 |
-3.7 |
… |
… |
| GDP deflator based (percentage change) |
1.3 |
1.8 |
-4.8 |
4.1 |
0.9 |
-0.3 |
… |
… |
| Memorandum Items: |
|
| Nominal GDP (in bn RON) |
533.9 |
565.1 |
595.4 |
637.5 |
667.6 |
712.8 |
757.1 |
802.5 |
| Potential output growth |
2.0 |
1.9 |
2.1 |
2.3 |
3.0 |
3.0 |
3.2 |
3.3 |
| Social and Other Indicators |
|
|
|
|
|
|
|
|
| GDP per capita: US$9,995 (2014); GDP per capita, PPP: current international $19,801 (2014) |
| People at risk of poverty or social exclusion: 39.5% (2014) |
|
| Sources: Romanian authorities; IMF staff estimates and projections; World Development Indicators database, Eurostat. |
| 1/ General government finances refer to cash data. |
| 2/ Fiscal balance (cash basis) adjusted for the automatic effects of the business cycle and one-off effects. |
| 3/ For 2016: data as of April 20. |
