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December 5, 2022

FinMin Citu: As estimated, industry shows sign of recovery

Signs show that, at the end of Q2 or the beginning of Q4, for the first time in two years, the dynamics of the industrial sector will be positive, says Minister of Public Finance Florin Citu in a post on his Facebook page.

“As estimated, the industry is recovering. Of course, it is difficult. We are still struggling globally with the double health-economic crisis. Which is why is important that we improve the conditions in the economy every month. And this is what we do. For we need a strong economy to be able to overcome the health crisis and we need a healthy society to be able to have a strong economy, and the measures that were taken by the government so far have had a positive impact, which shows. The industry was destroyed by three people. It had entered a recession at the beginning of 2019. Now all the signs show, without any doubt, that at the end of the second quarter or the beginning of the fourth quarter, for the first time in two years, the dynamics of the industrial sector will be positive, considering the economic context we are going through,” Citu noted on Wednesday.

He gave assurance that “as we revived the industry we will revive all economic sectors.”

The turnover in industry decreased in the first eight months of this year by 11.6%, compared to the similar period of last year, according to the information published on Wednesday by the National Institute of Statistics (INS). At the same time, the industry turnover, in August 2020, compared to the previous month, decreased, in total, by 10.7%, as a result of the decrease registered in the manufacturing industry (-10.9%) and in the extractive industry (-4.8%). Compared to August 2019, in August 2020 it decreased overall by 3%, as a result of the drop registered in the extractive industry (-12.8%) and in the manufacturing industry (-2.7%).

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