“The economic growth estimate is currently revised slightly downwards, to 0.2%-0.3%, though we have no final data. There is hope for a better performance in the third quarter, thanks to farming output, so we might reach our 1.5% GDP growth target for the year,” official sources told MEDIAFAX.
Late July, people close to the matter told MEDIAFAX the Government estimated 0.3%-0.4% growth of the gross domestic product in the second quarter, compared to the first.
A week later, Prime Minister Emil Boc said second-quarter economic growth was likely affected by a slowdown in industrial production and exports. He added the June indicators were negatively influenced by the recent turmoil in international markets.
Romanian authorities estimate an economic growth of 1.5% in 2011, from a contraction of 1.3% a year earlier. In the first quarter, the economy expanded by 0.7% in seasonally adjusted terms from the previous quarter.
Romania’s statistics institute INS will release the data for the second quarter on August 16.