"A number of positive indicators earlier this year, such as the industrial production, exports, retail sales and services companies, reported that the economy will grow faster in the first quarter than initial estimates showed" , an Austrian group report reads.
Bank analysts estimated an advance of 3% of the GDP for Romania this year, following a 3.5% increase last year. Growth is expected to rise slightly in the upcoming years, to 3.3% in 2015 and 3.5% in 2016, the report says.
Gross Domestic Product in 2008 was placed at about 140 billion euros. The most recent EU survey shows consistent "consumer hesitation" in Romania, still.
The next survey, scheduled for late April, could clarify whether the changes occurred are significant.
However, the government could continue to show a greater tendency towards social spending, while investment could return to positive only if European inflows and public investment continue to increase in some projects already announced to be launched. Accelerating inflation in the second half of the year and a poor agricultural crop are disappointing economic risks, bank analysts show.
Unfavorable base effect and more expensive fuel, quickly transposed into end consumer costs, could limit private consumption, while worsening weather conditions could deprive households in rural areas of much of their revenue.