Romania's Q3 GDP growth speeds up to 8.8% y/y - flash data

Quarter-on-quarter, the Romania's Gross Domestic Product increased by an adjusted 2.6% in July-September, compared to a revised 2% growth rate in the preceding three-month period, INS data showed.

INS said it has revised the second-quarter economic growth figure to 2% quarter-on-quarter, up from 1.7%. Also, it has revised first-quarter economic growth figure to 2% from 1.8%

In the nine months through September, Romania's economy grew by 7% on the year in non-adjusted terms and by 6.9% on a seasonally adjusted basis.

Romania's 2017 budget is built on projections for 6.1% economic growth and deficit equivalent to 2.96% of GDP.

Earlier this month, the European Bank for Reconstruction and Development raised its expectations for Romania's economic growth to 5.3% in 2017, but warned that the government may not meet its budget deficit target.

In October, the International Monetary Fund (IMF) said that Romania's real GDP growth is projected to reach 5.5% in 2017 before it decelerates to 4.4% in 2018.

In 2016, Romania's economy expanded by 4.8%.

(1 euro=4.6495 lei)