GDP up 6.5% in six months

Romania’s Gross Domestic Product increased by 6.5% in the first half of this year, amid accelerated economic growth in the second quarter. Growth stood at 6.1% after the first three months due to booming consumption. “Economic growth reached 6.5% in the first half, one point above the projected level, and this has allowed us to adjust the budget deficit for the second time, below the level of 2.1% of GDP,” stated Public Finance Minister, Mihai Tanasescu. The figure announced by the Finance Minister is adding to the image of quickly growing economy. According to some analysts, accelerated economic growth cannot be considered incompatible with disinflation as long as the inflation rate is still high, at over 10%. Tanasescu announced a downward revision of the budget deficit for this year to 1.64% of GDP. ZF