The European Commission released the European Economic Forecast for Winter 2016 according to which the Romanian Economy is expected to peak in 2016, before slowly contracting in 2017. When it comes to policies, due to tax cuts and expenditure increases, the fiscal deficit is set to increase substantially, and at the same time, new legal initiatives in the financial sector pose risks to the macroeconomic outlook. Whereas the GDP for 2016 is expected to reach 4.2%, for the following year it is to set lower, at 3.7%, yet still among the best performing EU economies. Inflation is also expected to go up, from the negative average of -0.2% to 2.5% in 2017, while the Gross public debt is presented as advancing at the same pace, from 40.5% to 42.6% of GDP.
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