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March 9, 2021

GDP: 2.6 % growth in the first half of 2014

The National Institute for Statistics (INS) upgraded its outlook of the Romanian economic development in the second quarter of this year as compared to the first quarter, i.e. to minus 0.9 percent up from minus one percent, while the half-yearly and year-over-year increases remained unchanged from the previous outlook, at plus 1.5 percent and plus 2.6 percent respectively, in seasonally adjusted data, according to the new provisional figures sent   Wednesday.Industry alongside the information and communications sector and real estate transactions made the most significant contribution to the growth seen by the gross domestic product (GDP) in Q2, while trade, agriculture and construction pulled the national economy down.
The figures made public by the National Institute for Statistics (INS) on Wednesday show the talk about Romania going into technical downturn is ‘purely statistic’, the Prime Minister’s advisor Cristian Socol has said. He added the national economy is macro-economically sustainable.
‘Not only does the adjustment to 0.1 percent from 0.2 percent fall into the 0.3 percent error margin, but when the third quarter figures are introduced, it is very likely that minus 0.1 in Q1 2014 turn into plus. With 2.6 percent growth in the first half of 2014 as compared to the first half of 2013, Romania has the eighth-highest rate of the real GDP increase in the EU, growing twice above the European average and more than three times when compared to the Euro zone average’, Socol told AGERPRES on Wednesday.
He underscored the economy of Romania is macro-economically sustainable and pointed out Bucharest meets all the nominal convergence criteria for joining the Euro zone.

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