Romania’s gross domestic product (GDP) increased by 5% year-on-year in the first quarter of 2019, according to newly released data from the National Statistics Institute (INS).
INS revised the previously released data in the seasonally adjusted series concerning the economic growth from 5.1% to 5%.
The GDP estimated for Q1 2019 amounted to RON 200.4 billion (almost EUR 42.2 billion) current prices, up 5% compared to Q1 of 2018.
The GDP estimated for the first quarter of 2019 – seasonally adjusted data - was of RON 251.2 billion (EUR 52.8 billion) current prices, increasing by 1.3% in real terms compared to the fourth quarter of 2018 and 5% compared to the first quarter 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 International Monetary Fund - IMF expects a GDP growth of 3.1% this year while the European Commission estimates a 3.3% growth.
Romania recorded a 4.1% economic growth in 2018, down from almost 7% in 2017.