Romania records 4.8 pct economic growth in the first half of 2019

Anca Alexe 14/08/2019 | 10:28

Romania’s economy grew by 4.8 percent in the first six months of this year compared to the same period of 2018 on seasonally adjusted series, and by 4.7 percent on gross series, according to estimations by the National Institute of Statistics (INS).

In the second quarter of this year, seasonally adjusted GDP growth reached 1 percent compared to Q1 and 4.6 percent compared to Q2 2018. In gross figures, compared to the same quarter of 2018, GDP in Q2 2019 registered an increase of 4.4 percent.

“Following the revision of the gross series by including the estimate of the GDP for the second quarter of 2019 in the quarterly series, the seasonally adjusted series has been recalculated, without significant changes in the volume indices compared to the second provisional version of the GDP for Q1 2019,” the INS noted.

The Romanian governments estimates a 5.5 percent growth of the Romanian economy this year, but international institutions have forecast a GDP growth 4 percent or less for 2019.

The European Commission’s latest forecast indicated an economic growth of 4 percent for Romania in 2019, the International Monetary Fund (IMF) expects 3.1 percent growth, the European Bank for Reconstruction and Development (EBRD) sees 3.2 percent and the World Bank expects a 3.6 percent growth.