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Romanian 3Q GDP +5.7% On Yr Vs +8.3% In 3Q 2006

Romanian third-quarter gross domestic product growth slowed to 5.7% on the year in real terms, compared with 8.3% in the corresponding period last year, the National Institute for Statistics, or INS, said Friday.
Romanian 3Q GDP +5.7% On Yr Vs +8.3% In 3Q 2006
30 nov. 2007, 10:10, English

The INS said that GDP was at 111.345 billion lei ($46.54 billion) in July-September period.

The slowdown of this year’s GDP was due largely to the low agricultural output, following the severe drought which has affected a large part of the crops during the summer months.

In January-September period, the GDP grew by 5.8% on the year in real terms, compared with a 7.8% growth in the first nine months last year.

Romania’s economic growth has been robust in recent years, increasing to 7.7% last year from 4.1% in 2005. The country’s prognosis commission expects economic growth at 6.2% in 2007.

The INS said will give more details about the nine-month economic growth in a press conference on December 7.