Romania’s National Statistics Institute (INS) confirmed the GDP growth for 2018 at 4.1%, under the second evaluation of last year’s national accounts.

The seasonal series was slightly revised, with Q4 growth versus Q3 revised upward from 0.7% to 0.9%.

In absolute terms, the year’s nominal GDP was revised upward by 0.4% compared to the first estimate, to RON 944.2 billion (EUR 202.9 billion). This is likely to marginally improve the budget deficit and current account deficit when expressed as a ratio to GDP, but also push up the estimates for this year’s nominal GDP used for budget planning.

The rise in the nominal GDP estimate was prompted by higher underlying GDP deflator calculated by INS: 5.9% compared to 5.4% under the first GDP estimate. The GDP deflator rates measure the weighted average rise of prices in the economy.

editor@romania-insider.com

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