Romania's GDP Falls 7.2% On Year In 2009, Country Still in Recession

Romanian economy declined 7.2% on the year in real terms in 2009, following a larger-than-expected quarterly contraction in the fourth quarter of the year, a flash estimate of the National Statistics Institute, or INS, showed Friday.

70 views

Romania's GDP Falls 7.2% On Year In 2009

In the fourth quarter, the country's gross domestic product shrank by a seasonally adjusted 1.5% compared with a quarter earlier, INS said.

Compared with the fourth quarter of 2008, the GDP fell 6.6% in real terms during the last quarter of 2009.

The data put a dumper on speculations about a revival in the fourth quarter of last year. The analysts polled by MEDIAFAX estimated the GDP would grow by as much as 1.5%-2% in the fourth quarter compared with the previous quarter, easing the full-year contraction to 6.6%-7% in 2009.

In 2008, Romania's GDP rose by a record 7.1%.

Romanian authorities estimate the economy will grow by 1.5% in 2010.

If you liked this story, please follow MEDIAFAX.RO on FACEBOOK »

The content of mediafax.ro is for your information only. Republishing or using this content is forbidden without express consent of MEDIAFAX. For this consent, please ask for it by mail at vanzari@mediafax.ro.