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Overview

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Romania

2022

Population, million

19.9

GDP, current US$ billion

291.7

GDP per capita, current US$

14,643.2

Life Expectancy at Birth, years

74.4

Romania has made impressive strides in raising its economic performance and prosperity over the past two decades. However, the COVID-19 pandemic and Russia’s invasion of Ukraine have tested the resilience of the Romanian economy and exacerbated its structural vulnerabilities, especially in terms of poverty and disparities in economic opportunity, persistently large gender gaps in labor force participation and employment, widening fiscal and current account deficits, and significant institutional constraints hindering the efficient use of resources.  

Romania’s economic growth was robust in 2022 at 4.8 percent, driven by strong private consumption and a pick-up in investment. Economic prospects are moderated by the spillovers from the war in Ukraine, and risks are tilted to the downside. Fiscal and current account deficits will remain elevated. Poverty reduction is expected to slow down as a result of inflationary pressures, mainly from food and energy, though some of the impact is mitigated by government support measures.   

Last Updated: Apr 11, 2023

LENDING

Romania: Commitments by Fiscal Year (in millions of dollars)*

*Amounts include IBRD and IDA commitments

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Country Office Contacts

Bucharest, Romania
31 Vasile Lascar St. / Sector 2 UTI Building, 6th floor
020492 Bucharest, Romania
40 21 201 03 11
40 21 201 03 38