In the fourth quarter of 2011 the economy registered a significant growth compared to the same interval in 2010, said Basescu. He pointed out there is no reason for concern about drifting back into recession.
On Friday, Finance Minister Bogdan Dragoi estimated the country’s economy has slipped back into technical recession in the first quarter, hit by bad weather.
“Unfortunately, the bad weather in the first quarter seems to have triggered an economic contraction compared with the last three months of 2011,” Dragoi told a news conference.
Compared with the first quarter of 2011, however, Romania’s gross domestic product increased by 1.5% to 2% in the first three months, Dragoi said.
The Romanian economy grew at an annual rate of 2.5% in 2011, compared with a decline of 1.3% in the previous year.
For 2012, the authorities forecast a growth of 1.5% to 2%.