BUCHAREST (Romania), February 16 (SeeNews) - Romania's economy contracted by 3.9% in 2020, compared to a growth rate of 4.1% in the previous year, flash data from the country's statistical board, INS, showed on Tuesday.
In the fourth quarter alone, Romania's gross domestic product (GDP) fell 1.5% year-on-year, following a 5.7% annual contraction in the third quarter, INS unadjusted data showed.
Based on seasonally adjusted figures, Romania's economy contracted by an annual 1.7% in the fourth quarter, compared to a 5.6% annual decrease in the previous quarter.
On a quarterly comparison basis, Romania's GDP rose by 5.3% during September-December, following a revised 6.1% quarterly growth in the previous quarter, seasonally adjusted data showed.
The full-year 2020 economic contraction figure is almost in line with the government's estimates.
In November, prime minister Florin Citu, then finance minister, said that Romania's GDP is expected to drop by 4% in 2020, plus or minus two percentage points.
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