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Top economist Daianu: Romania's economic growth will be around 6pct in 2021


Romania will have a respectable rate of economic growth in 2021 that will hover around 6%, between 5.5% and 6%, said on Friday, Chairman of the Fiscal Council Daniel Daianu told an online event.

"In my opinion, if we look at the global context, we are witnessing a paradigm shift, because the European plan is far-reaching and focuses on investment. In the United States, Biden's infrastructure programme is again a paradigm shift. It makes us think of Franklin Delano Roosevelt's new deal policy. The European Plan accounts for about 5% of the European Union's aggregate Gross Domestic Product, the Biden administration's plan accounts for about 10% of the United States' Gross Domestic Product. Surely, they are plans covering many years, as is Romania's plan, the National Recovery and Resilience Plan, which - at 30 billion euros - is the equivalent of about 14% of Romania's Gross Domestic Product, analogous to what such plan means in Poland. Economic recovery has in fact started everywhere. In fact, we are witnessing a rebound, a leap, because it is the main effect, as we economists say. Romania will have a respectable growth rate and I think it will hover around 6%, between 5.5% and 6% this year, which, together with an inflation that I suspect the deputy governor also mentioned, would allow a GDP dynamic that would help the macroeconomic correction process," said Daianu.

Present at the online conference "Upgrade Romania - investment, the lifeblood of the economy," Daianu mentioned that the process of macroeconomic correction was postponed in 2020 due to the COVID-19 pandemic and started in 2021, confirms.

"In my opinion, the European plan is like a multi-vaccine. It is designed to take into account climate change, while giving a lot of support to countries to continue the fight against the pandemic and having a geopolitical, contextualised component," the economist explained.


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