OECD Economic Outlook, Volume 2022 Issue 1
The war in Ukraine is a major humanitarian crisis with associated economic shocks that threaten the post-pandemic recovery. The OECD Economic Outlook, Volume 2022 Issue 1, highlights the implications and risks for growth, inflation and living standards from higher commodity prices and potential disruptions to energy and food supplies, and discusses the associated policy challenges.
This issue includes a general assessment of the macro-economic situation and a chapter summarising developments and providing projections for each individual country. Coverage is provided for all OECD Members as well as for selected partner economies.
Romania
Following a 5.9% rebound in 2021, GDP growth is projected to decelerate to 3.1% in 2022 and 2.6% in 2023 due to high uncertainty, commodity prices and supply shortages. Domestic demand will remain the main growth driver supported by the absorption of EU funds and a resilient labour market. By contrast, the trade deficit is set to remain large, contributing to relatively high risk premia in financial markets. Inflation is expected to reach 11.9% in 2022 and 8.5% in 2023, despite tightening monetary policy and a cap on electricity and gas prices.
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