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The Romanian governments 2013 growth forecasted of 1.6% is rather conservative and will be supported by higher domestic consumption, EU funds absorption and structural reforms, budget minister Liviu Voinea said as quoted by news agency Agerpres. The government expects the growth to accelerate to 2.2% in 2014, 2.8% in 2015 and 3% in 2016 according to the Autumn Forecast of the state forecasting body CNP.
The latter two drivers - namely the EU funds absorption and the structural reforms, will start producing effects as of the second half of this year and will support the growth in the coming several years, Voinea added. Out of the EUR 6bn Romania can in principle drain from the EU budget this year, the government has included in the years budget planning only EUR 2.8bn (RON 11bn).
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