IMF cuts its growth estimates for the Romanian economy

The International Monetary Fund has lowered its growth forecast for the Romanian economy this year to 1.6%, down from 3.3% in October, according to a report published on the occasion of the IMF and World Bank spring meetings in Washington.

The global economy's growth forecast was also revised down by half a percent to 2.8% this year.

The report published today on the occasion of the Washington Spring Meetings of the Fund and the World Bank shows that the taxes announced by the Trump administration, retaliatory measures taken by several countries and uncertainty in international markets will lead to a noticeable slowdown globally.

The IMF predicts a serious reduction from 3.2% to 1.7% in the world trade growth rate and warns that tightening financing conditions and a lack of development money may increase pressures on developing countries.

Mexico is expected to fall into recession and China, the country most targeted by US tariffs, will have its slowest growth since 1990, at just four percent.

As for the rich, the US economic advance will fall to 1.8%, a drop of almost one percentage point from the previous estimate.

Spain's, with the highest growth last year in the EU, is expected to fall to 2.5%, but the country will be the best performer among the developed.

Translated by: Radu Matei