Romania's Q1 GDP growth slows to 4% y/y - flash data

Romania's Q1 GDP growth slows to 4% y/y - flash data Romania GDP, budget

BUCHAREST (Romania), May 15 (SeeNews) -  Romania's economic growth slowed to 4.0% year-on-year in the first quarter of 2018, compared to  5.7% annual growth in the like quarter of 2017, non-adjusted flash data of the country's statistical board, INS, indicated on Tuesday.

On a seasonally adjusted annual comparison basis, Romania's gross domestic product (GDP) growth decelerated to an annual 4.2% from 5.9% in the first quarter of last year, INS data showed. Also, the GDP growth rate in the first quarter of 2018 was unchanged, compared to the last quarter of 2017.

INS said it has revised the results in the first quarter of 2017 to 2.4% quarterly growth rate, up from 2.0% reported earlier. Also, the quarterly growth rate in the second quarter of 2017 has been revised to 1.6% from 1.7%, while for the third quarter of 2017, the growth rate has been revised to 2.2% from 2.4%. Finally, the results for the fourth quarter of 2017 as compared to the previous quarter, had been revised from 0.5% to 0.3%.

Romania's economy expanded by 6.9% year-on-year in 2017, according to INS preliminary data.

The country's 2017 budget bill was built on projections of 6.1% economic growth and envisaged a deficit equivalent to 2.96% of GDP.

(1 euro = 4.6289 lei)

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