INS revises 3Q GDP growth slightly up

Newsroom 14/01/2015 | 12:35

Romania’s gross domestic product grew 3.3 percent in the third quarter of 2014 compared with the year-earlier period, revised data from the country’s statistics office INS showed Wednesday.

“The Gross Domestic Product – estimated for the third quarter of 2014 was RON 168.3 billion current prices, up – in real terms – by 1.8 percent compared to the second quarter of 2014 and 3.1 percent compared to the third quarter of 2013”, according to preliminary data sent by INS on Wednesday.

The Institute initially announced a GDP of RON 167.07 billion for Q3 2014, representing a 3 percent year on year increase.

The Romanian government agreed with its international financial backers on a 2.5 percent GDP growth in 2015.

The World Bank announced on Wednesday an estimate that Romania’s economy will grow 2.9 percent in 2015, a downward revision from its previous forecast, but is expected to accelerate to 3.2 percent next year.