Romania’s GDP increases by 4.4% in second quarter

Romania’s gross domestic product (GDP) increased by 4.4% year-on-year in the second quarter of 2019, in gross series, according to the flash estimate published by the National Statistics Institute (INS) on Wednesday, August 14. Based on seasonally adjusted data, the growth was of 4.6%.

In the first half of the year, the GDP increased by 4.7% year-on-year in gross series and by 4.8% in seasonally adjusted series, the same data showed.

In July, the INS reaffirmed the 5% GDP growth in the first quarter of 2019, compared to the same period of 2018. The Romanian government expects the GDP to grow by 5.5% this year but international financial institutions believe the increase will be smaller. For example, the European Commission expects Romania’s economy to grow by 4% in 2019.

Romania recorded a 4.1% economic growth in 2018, down from almost 7% in 2017.

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