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Romania's Q3 GDP growth slows down to 3% y/y - flash data

Romania's Q3 GDP growth slows down to 3% y/y - flash data

BUCHAREST (Romania), November 14 (SeeNews) -  Romania's economic growth decelerated to 3% year-on-year in the third quarter of 2019, compared to 4% annual growth in the like period of last year, non-adjusted flash data of the country's statistical board, INS, indicated on Thursday.

On a seasonally adjusted annual comparison basis, Romania's gross domestic product (GDP) growth decelerated to an annual 3.2%, from 3.8% in the third quarter of last year, INS data showed.

Compared to the previous quarter, GDP growth decelerated to 0.6% in July-September of 2019, from 1.7% in the second quarter.

In the first nine months of 2019, Romania's GDP rose by an annual non-adjusted 4% and by a seasonally-adjusted 4.1%, flash data showed.

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.

Earlier this month, the European Commission said that Romania’s economy is expected to expand by a real 4.1% in 2019, while the European Bank for Reconstruction and Development (EBRD) increased its projection for Romania's 2019 economic growth to 4.0% from 3.2% it had forecast in May. 

(1 euro = 4.7635 lei)

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