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Romania's Q1 GDP growth speeds up to 5% y/y - provisional data

Romania's Q1 GDP growth speeds up to 5% y/y - provisional data Romania GDP, budget

BUCHAREST (Romania), July 8 (SeeNews) -  Romania's economic growth accelerated to 5% year-on-year in the first quarter of 2019, compared to a 4% rise in gross domestic product in the like quarter of 2018, unadjusted provisional data from the country's statistical board indicated on Monday.

On a seasonally adjusted annual comparison basis, Romania's economic expansion quickened to 5.1% in the first quarter, from 4.6% a year earlier, INS data showed.

Compared to the previous quarter, Romania's GDP grew by 1.3% in the first quarter of 2019, compared with an increase of 1.0% in the fourth quarter of 2018.

Both estimates confirm INS's previous calculations made in June.

Final domestic consumption rose 5.4% on the year in the first quarter and was revised downward from 6% estimated previously.

Romania's economy expanded by 4.1% in 2018, according to INS preliminary data.

The country's 2019 budget bill is built on projections of 5.5% economic growth and envisages a deficit equivalent to 2.76% of GDP.

Details follow:

Romania GDP Q1, y/y pct change
- Final consumption 5.4
- Exports 4.9
- Imports 9.3
- Agriculture 3.0
- Industry 0.9
- Construction  6.6
Total 5.0

(1 euro = 4.7245 lei)

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