Romania Consumer & Retail Q2 2019
Household spending has been a key growth driver in Romania in recent years, and we expect this to continue over theshort-term (eg, 2019, 2020). Strong wage growth and expansionary fiscal measures, including tax breaks and rising minimumwages, by the country's populist coalition government will continue to boost consumer purchasing power over the comingquarters. Broader economic activity is cooling however, amid a wider EU slowdown, and this will weigh on consumer confidence,while rising interest rates and political tensions with the EU (over fiscal spending, and controversial judicial reforms) also poses adownside risk to consumption over the medium-term.
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