Romanian Ctrl Bk Governor Says ’08 GDP Growth May Exceed Expectations

Romania’s economy expanded by 8.2% in real terms in the first quarter of 2008, compared with 6% in the corresponding period a year earlier, according to the latest data from the country’s statistics board.

"If you want more speed, you don’t push an engine that cannot give more, because all you get is more smoke,” Isarescu said on the sidelines of a financial seminar, adding the first-quarter gross domestic product growth was higher-than-expected, but not surprising.

Romanian analysts had expected a GDP growth of 7.5% in January-March.

Deputy central bank governor Eugen Dijmarescu said Tuesday that the first quarter GDP growth is an overheating of the economy.

Romania’s Prognosis Commission estimates the economy would grow by 6.5% at the end of the year, compared with 6% in 2007.