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Statistics: Romania's economy posts 2.7% growth Jan.-Sept. 2011

Romania's economy recorded a 2.7-percent growth in the first nine months of 2011 compared with the similar period of the year before, according to first estimates released by the National Statistics Institute (INS).

The country's Gross Domestic Product (GDP) advanced 2.7 percent in unadjusted terms and 2.6 percent in terms adjusted for seasonality, January 1 - September 30, 2011, compared with the similar period of 2010.

The first estimates read a Q3, 2011 GDP 1.9 percent bigger than Q2, 2010 in real terms adjusted for seasonality. Compared with the similar 2010 quarter, the GDP was up 4.4 percent in unadjusted terms and 4.5 percent in seasonally adjusted terms.

International institutions' projections of Romania's economic growth in 2011 vary between 1.5 percent, the projection of the International Monetary Fund (IMF) and 1.7 percent, in the autumn's estimates of the European Commission.

President Traian Basescu said Monday evening that Romania could end 2011 on a 2-percent economic growth. There was a 1.7-percent growth in the first quarter, a 1.4-percent growth in the second quarter, a 4.4-percent growth in the third quarter and we hope to get a 2.5-percent growth in the fourth quarter. The growth rates are 7.2 percent in construction; a 25-percent average rate in agriculture; a 5.5-percent in industry and a 17-percent in tourism, he said

Romania's 2012 economic growth projection has been downwardly adjusted from 3.5 percent to 2 percent, as the IMF is expecting the country to feel the problems facing the European economy.

The Romanian Government has built its 2012 Budget on a 1.9-percent of the GDP deficit and a 2.1-percent economic growth.Romania's economy fell into recession two year ago, as its GPD declined for two consecutive quarters, Q4, 2008 and Q1, 2009. In 2010, Romania's economy shrank by 1.3 percent.

Sursa: http://www.actmedia.eu

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