International Information Centre for Balkan Studies

Romania’s Economic Recovery Gathering Speed




New statistical data appear to show that the country's economic recovery is gathering pace.

A new report by Romania's National Statistics Institute, the INS, published on Wednesday (13.05.2015), holds good news for Romania's economy in 2015.

Gross Domestic Product expanded by 4.3 per cent in real terms in the first quarter of 2015 compared to the same period last year, the INS said in a statement.

The economy also grew by 1.6 per cent compared to the previous quarter, thus recording the third consecutive quarterly increase.

The data do not say which economic sectors contributed to this growth.

The economy is expected to continue expanding this year. In a report released inFebruary, the European Commission said Romania's growth would stay above 2.7 per cent in 2015 and 2.9 per cent in 2016, "powered by domestic demand and supported by the gradual recovery expected in the global economy”.

Romania’s expected growth is the sixth highest in the EU. Average economic growth is expected to be 1.7 per cent in the EU and 1.3 per cent in the eurozone area.

Romania registered 2.8 per cent growth in 2014.

Marian Chiriac

Source: http://www.balkaninsight.com/en/article/romania-s-economy-grows-this-year-so-far





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