INS: Romania’s economic growth in 2015 revised to 3.9%

The National Statistics Institute (INS) has revised up Romania’s economic growth in 2015 from 3.8% to 3.9%, according to data published on Tuesday. Romania’s estimated GDP for 2015 amounted to RON 711.1 billion (EUR 157.3 billion), up 3.9% compared to 2014. The industry’s contribution to the GDP growth in 2015 was revised up to 1.4 percentage points from the previous estimate of 0.5pp. Retail and wholesale trade also had a contribution of 1.8pp to the GDP growth, up from 1pp in the previous report. Real estate contributed 0.8% to the economic growth (0.2pp according to previous estimates). Meanwhile, agriculture, construction, information and communications, and public administration had lower contributions than previously estimated. Public administration dragged down the economic growth by 1.3 percentage points in 2015. The Economist: Romania will record the highest economic growth in the EU in 2017 editor@romania-insider.com