Romania’s economic growth could accelerate to 2.9% in 2024 (Alexandu Reff, Deloitte Romania & Moldova)

The year 2024 will mark a positive evolution of the Romanian economy as a whole, growth will accelerate to 2.9% or even 3.4% – 3.5%, while inflation would continue to decrease to a level of 4.7% – 5.8%, Alexandru Reff, country managing partner of Deloitte Romania and the Republic of Moldova, on Thursday told the 5th edition of the Deloitte CFO Summit 2024 event, to discuss the expectations for the year 2024, but also about Generative Artificial Intelligence (Gen AI).

According to him, for Romania, the last five years “were marked by unprecedented uncertainties”, and the year 2023 was one “of slowing down growth and on the verge of avoiding recession for Europe as a whole”.

In the consultant’s view, in 2024, but also in 2025, electoral concerns will not allow paradigmatic changes in taxation.

“We have political stability, we can expect it to continue even after the elections. We also have a moratorium of at least one year, promised by the Government regarding the additional change in taxation. And I say at least one year, because I believe that the eminently electoral concerns of 2024 will not allow, at least from a technical point of view, any paradigmatic changes in taxation even in 2025. European funds are starting to be put to work and have a substantial impact on the economy. We see this in infrastructure, in construction, but not only, and public investments are maintained at a high level. The question is whether this perspective, rather encouraging, is also shared by the financial directors of large companies,” Alexandru Reff stressed.