Romaniaaa‚¬a„¢s GDP decreased by 1.2 percent in 2010, less than initially expected

Romania’s economy decreased by 1.2 percent in 2010 (unadjusted terms), less than the authorities’ initial estimation of 1.9 – 2 percent, according to preliminary data from the National Statistics Institute (INS).

Between October and December 2010, Romania’s GDP grew by 0.1 percent in seasonally adjusted terms compared with the previous three months, after two consecutive quarters of decline.

For this year, Romanian authorities forecast the economy will grow by 1.5 percent. The growth could be generated by higher exports and a gradual rebound of domestic demand.

In 2009, Romania reported a GDP decline of 7.1 percent.

Simona Bazavan

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