Romania's GDP Contraction Confirmed at 3.9% in 2020

Romania's gross domestic product contracted by 3.9% in real terms in 2020 compared with 2019, breakdown data from the country's statistics board confirmed Tuesday.

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Fourth-quarter GDP growth was revised down to 4.8% in real terms compared with the third quarter of 2020. The flash estimate released mid-February showed 5.3% quarterly growth.

In annual terms, fourth-quarter GDP contracted by 1.4% in real terms, revised from the previous estimate of 1.5%.

Romania expects GDP growth of 4.3% for 2021.

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