Romania reports economic growth for third quarter in a row

Romania's gross domestic product (GDP) was up 0.2 percent in the second quarter of this year compared to the previous quarter, according to the Romanian National Institute of Statistics (INS). This is the third quarter in a row when Romania reports economic growth. Compared to the same quarter of 2010, Romania's economy grew by 1.4 percent in gross series and 0.3 percent in seasonally adjusted series. In the first half of 2011, the GDP increased by 1.6 percent compared with the first half of 2010 in gross number, and by 0.3 percent in seasonally adjusted series, according to INS. During their visit to Bucharest from July 20 to August 1 this year, for the quarterly evaluation of Romania’s economic program to strengthen economic growth, teams of experts from the European Commission (EC) and International Monetary Fund (IMF) said that for 2011 a GDP growth of around 1.5 percent is expected in Romania. Irina Popescu, irina.popescu@romania-insider.com (photo source: Sxc.hu)