Romanian economy grew 2,9% in 2014, in line with local banking economists forecast, but much better than the 2% international analysts consensus, according to the first estimates of the National Institute of Statistics.

Household consumption played an important role in the Romanian economy performance being the major contributing behind GDP growth, thanks to low inflation and good wage growth, according to a note of ING Bank Romanian economists.

Inflation in Romania was 0,4% in 2014, a record low, well below central bank target of 2,5%.