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Andreea Paul Vass: Romania, largest economic growth in EU, in third quarter 2011

Having a 1.8 percent growth rate in the third quarter of 2011 from the previous quarter, Romania is still the first in the EU-22, with the largest economic growth, says an economic analysis made by Andreea Paul Vass, state adviser to Premier Emil Boc, which was sent to Agerpres on Wednesday.

'The economic fields that contributed to this success are agriculture, with the most spectacular growth in the third quarter of 2011, over 22 percent, followed by constructions (7 percent) and industry (6 percent). Considering the corresponding quarter of 2010, the 4.4 percent economic growth in the third quarter positioned Romania the fifth in the EU, only Estonia, Lithuania, Latvia and Sweden being ahead of it. The GDP rose to 155 billion lei for current prices.

'In the first 9 months of 2011 the GDP amounted to about 388.7 billion lei with current prices, up by 2.7 percent from the corresponding time span of 2010, as a consequence of the support given especially by agriculture (16.4 percent) and industry (6.8 percent),' reads the above-mentioned document.

Moody's estimates a 2.2 percent economic growth for Romania, which is supported by speeding up the absorption of European funds, and 3 percent inflation in 2012. The figures that have been predicted fall in with the estimates of the Government and confirm the correctness of the economic assessment for 2012, reads the above-mentioned analysis.

The growth by 4.8 percent of the industrial output in October 2011 from the same month of the previous year positions us the sixth among the 23 EU countries for which data are available. We topped the average growth in Europe by 3.5 percentage points.

The analysis shows that Romania started 2012 with a 700 lei guaranteed minimum salary, from which 790,000 people benefit, of whom 125,000 are paid from the budget. This increase covers the inflation predicted for 2012.

On the other hand, the study emphasizes the fact that, in November 2011, Romania had by 4,000 fewer unemployed people than in the previous year.

'The unemployment rate went down by 0.1 percentage points from November 2010 and the number of unemployed people diminished from 731,000 to 727,000. When compared with October 2011, the unemployment rate stood the same, 7.3 percent.

Therefore, Romania keeps its 2.5 percent distance from the 9.8 percent European average in November 2011. We are among the countries having the lowest unemployment rates, the eighth in EU-22. When compared with the countries in the area, we have better results than Slovakia (13.5 percent), Bulgaria, (10.9 percent). Hungary (10.7 percent), Poland (10 percent) and Slovenia (8.2 percent), informs the economic analysis mentioned before.

Sursa: http://www.agerpres.ro

Tags: percent quarter third growth economic romania