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Coronavirus: Romania, growth to contract by -4.7% in 2020

Budget deficit to widen to -7.3% of GDP

25 March, 19:09
(ANSA) - BELGRADE, 25 MAR - The Romanian economy will experience a contraction of -4.7% in 2020 due to the coronavirus pandemic and the lockdown to fight the outbreak is likely to lead to large losses in most economic sectors in the country, a new estimate of Erste Group Research shows. "This will deteriorate the already weak public finances with budget deficit likely to widen to -7.3% of GDP," the Erste analysis reads.

However, the contraction could be followed by "double-digit recovery in the next quarter helped by the huge fiscal and monetary stimulus domestically and abroad," Erste noted. (ANSA).

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