Growth: The release of detailed data for third-quarter 2023 GDP growth, alongside upbeat high-frequency data for the fourth quarter points to a resilient growth picture in Romania. For 2024, we are likely to see a rebalancing of the growth drivers from investments towards consumption, though the former should still hold on close to double-digit growth. However, with public wages likely to stay well within double-digit growth and pensions due to be increased by 13.8% starting January 2024 and approximately 22.0% starting September 2024, the private consumption story is likely to show marked improvement. We maintain our 2024 GDP growth…
