Romania’s gross domestic product (GDP) increased by 4.1%, as a gross series, in the second quarter of this year compared to the same period of 2017, the National Statistics Institute (INS). In seasonally adjusted terms, the increase was 4.2%, slightly lower than the 4.3% rate in the first quarter.

In the first half of this year, the economic growth rate was 4.0%, as a gross series, and 4.2%, in seasonally adjusted terms. The increase is way lower than the 5.5% rate the National Prognosis Commission estimates for this year, on which the Government based its budget.

When compared to the first quarter, Romania’s economy went up by 1.4% in the second quarter, the highest quarterly growth rate in the European Union, according to Eurostat. Meanwhile, the year-on-year growth rate of 4.2% was lower than Poland’s 5.0% and Hungary’s 4.4%.

Romania recorded the highest economic growth rate in Europe in 2017, of 6.9%.

editor@romania-insider.com