Coface expects Romanian economy to advance 4.2 per cent in 2016
Coface is expecting Romanian economy to advance 4.2 percent with zero contribution from agriculture in 2016, under a basic scenario, Coface Services Director and Senior Economist Iancu Guda said this week, quoted by Agerpres. 2016-02-05 11:07:25
"We are expecting the next year to go on a rising trend boosted particularly by the same growth factors. First of all, private consumption should advance up to 7 percent from the year before, backed up by several factors. On the one hand, there are the public pay rises — a 25-percent rise in healthcare staff′s pay, a 15-percent rise in education staff′s pay and a 10-percent rise in the pay for the remaining public workers, coupled with an increase in the minimum wage in May 2016, 19 percent after three consecutive years of average annual increases of 12 percent, a dynamic that unfortunately is not correlated with productivity gains," said Guda.
Investment would be another growth-sustaining factor.
"Investment is another factor supported by tax incentives: a decrease to 5 percent in the dividend tax, zero taxes on reinvested profit in a larger class of assets and a cut by 5 percent in the social security contributions due by employers. Coface is estimating a GDP rise by 4.2 percent with zero contribution from agriculture because of its unpredictability," said Guda.
The company is expecting Romania′s 2015 GDP growth to be 3.9 percent. "In Q4, 2015, we should witness sped-up GDP growth, which will lead to an estimated growth rate of 3.9 percent under the basic scenario," added the Coface official.
Last autumn, the National Economic Projection Board (CNP) upwardly adjusted to 3.6 percent its projections of Romania′s GDP′s growth in 2015, and kept at 4.1 percept its 2016 economic growth forecasts.
|
|
| |
|
Daily Info |
Smart city is not a fad, it's a necessity In June 2018, the ranking of the most "smart" cities in the world was published. In other words, the most advanced cities in terms of human capital, social cohesion, the econo... |
Ondrej Safar, CEZ Group: "Romania can become a hub for international smart solutions providers" "We are already in the digital age, so the upward trend of implementing smart solutions is inevitable in all areas," he tells The Diplomat-Bucharest. "Especially in terms of u... |
Telekom Romania, a strong supporter of Smart City development in Romania Just like many other countries in the world Romania is now facing an unprecedented growth of the urban population, which can be both beneficial and detrimental for the society... |
In the industrial era, the fight was for finite material resources. Not anymore Now organizations fight and develop themselves for and around their talent.
In a nutshell, getting ahead in today's business world is all about attracting and inspiring an e... |
Richard Sareczky, Mol Limo: "We look at expansion locations across CEE including Romania" Consumer mobility behaviour is changing, leading to up to one out of ten cars sold in 2030 potentially being a shared vehicle and the subsequent rise of a market for fit-for-p... |
|
|
|
|
|
|
|
|
advertising
advertising
advertising
|
More on News |
President Iohannis urges Romanians to be more united, stay involved in modernizing Romania Romania's President Klaus Iohannis urged Romanians in France to be more united and stay involved as much as they are now in helping modernise Romania. |
ArcelorMittal receives binding offer for European assets from Liberty British-owned Liberty announced a conditional agreement to buy four European steel plants, employing more than 12,500 people. |
The Romanian labour market needs a well-thought approach, says FIC The Foreign Investors Council (FIC) has signaled in the past 2-3 years that its members are anticipating increasing strains on the Romanian labour market because starting w... |
Revolut gets European banking license Fintech startup Revolut is now officially a bank. While the startup initially expected to get its European banking license during the first half of 2018, the company has fi... |
EBRD cuts economic growth forecast for Romania Romania's economy will grow by 4.2 per cent this year and by 3.6 per cent in 2019, according to the most recent forecast released by the European Bank for Reconstruction an... |
Dacia receives 115.8 million RON in state aid from the Finance Ministry The Romanian Finance Ministry has signed five more grant agreements under the state aid scheme, and among the beneficiaries are Automobile Dacia, with RON 115.8 million. |
OTP Bank Romania signs investment funds distribution deal with Eurobank Fund Management Luxembourg OTP Bank Romania signed a partnership with Eurobank Fund Management Company (Luxembourg) for the distribution of investment funds in Romania. Thus, from December 1st, OTP B... |
|