forecast

The reality of the Covid-19 crisis will bite severely into the real economy and Romania's GDP is seen contracting by 6.6% in 2020, with a second quarter to forget, followed by a less pronounced “V-shaped” recovery than previously expected, ING said in a report Friday.

Austria's Erste Group, which owns lender BCR in Romania, said in a research report it sees the country's GDP contracting by 4.7% in 2020 and the budget deficit is likely to widen to 7.3% of GDP.