May 15 (SeeNews) - Romania's economic growth accelerated to 5% year-on-year in the first quarter of 2018, compared to 4% annual growth in the like quarter of 2018, non-adjusted flash data of the country's statistical board, INS, indicated on Wednesday.
On a seasonally adjusted annual comparison basis, Romania's gross domestic product (GDP) growth accelerated to an annual 5.1% from 4.6% in the first quarter of last year, INS data showed.
Compared to the previous quarter, Romania's GDP accelerated to 1.3% in the first quarter of 2019 compared to a revised 1% in the fourth quarter of 2018.
INS said it has revised the results in the second quarter of 2018 to 1.2% quarterly growth rate, down from 1.3% reported earlier. Also, the quarterly growth rate in the third quarter of 2018 has been revised to 1.5% from 1.4%, while for the fourth quarter of 2018, the growth rate has been revised to 1% from 0.9%.
Romania's economy expanded by 4.1% in 2018, according to INS preliminary data.
The country's 2019 budget bill was built on projections of 5.5% economic growth and envisaged a deficit equivalent to 2.76% of GDP.
(1 euro = 4.7616 lei)