RSS
The National Prognosis Commission head : Romania could have an economic growth of 0.5% in Q1 against Q4 2010
Romania could record in Q1 of this year an economic growth of 0.5% against the last quarter of last year and 1.3% for the similar period of 2010, the head of the National Prognosis Commission, Ion Ghizdeanu.
« Including all the data published by the respective institutions in the estimation, we had a reestimation of Q1 : at present, taking into consideration the budget data which confirm the evolution, the increase on the first quarter 2010 is of 1.3% which means against Q4 an increase of 0.5% » Ghizdeanu said.
The chairman of the Fiscal Council, Ionut Dumitru stated last week that Romania did not get out of recession and the positive trend of the last quarter of last year must be confirmed by the following data, without being sure that the economic coming back has started.
The economy got into recession in Q3 2008 once that GDP dropped against the previous three months by 0.1%. Since then, GDP recorded drops every quarter, with the exception of increase of 0.9% in Q3 of 2009, an advance of 0.2% in Q2 of last year and the increase of 0.1% in the last quarter of last year.
At mid-February, premier Emil Boc stated that there are signs that Romania will get out of recession at the end of March. At the same time, the head of IMF to Romania, Jeffrey Franks, stated for Mediafax that Romania will come out of recession at the end of March and the economic advance will follow an increasing trend from one quarter to another, and the population will feel the situation as improved by the mid-year.
Technically to get out of recession, the economy of a country must record increase in two following quarters. In the last quarter of last year, the economy went up by 0.1% against the previous one. The National Institute for Statistics will present by 13 May the evolution of the GDP in the first quarter of this year.