The World Bank on Tuesday improved its estimates for Romania's economic growth this year to 5.1 percent from 4 percent, as estimated five months ago.

The international financial institution however cautions in a report released on Tuesday that the 5.1 percent leap in the Romanian economy in 2016, after a 3.8 percent advance last year, will be followed in 2017 by a slow-down of the increase to 3.8 percent, and an even lower growth of 3.4 percent in 2018.

The World Bank draws the attention on the risks that could worsen outlooks, warning that the approaching general elections in December increase the risk of further ad-hoc spending.

Meanwhile, growing uncertainty about global economy and financial sector volatility would increase the probability of a reversal in investor sentiment in emerging market economies, triggering pressures on the currency and an increase in external debt, the report added.

The International Monetary Fund (IMF) recently estimated a 5-percent economic growth in Romania in 2016, the highest in Europe, reported official Agerpres news agency.

The European Commission, in early November, also revised upwards by one percentage point, to 5.2 percent, the estimates for the Romanian economy growth this year.