GDP 
Romania May Budget Gap At 1.36% Of GDP
Romania’s general consolidated budget registered a deficit of RON7.42 billion (EUR1.76 billion) at the end of May, namely 1.36% of the Gross Domestic Product, according to the Finance Ministery data. The budget gap is higher than the 1.2% deficit previously announced by finance minister Gheorghe Ialomitianu. The five-month deficit was the result of RON70.7 billion revenue (+10%) and RON78.17 billion expenditure (-3,4%). Compared to the previous month, the budget gap rose by more than RON3 billion, from 0.8% of the GDP. Romanian authorities agreed with the International Monetary Fund to keep the budget gap below 4.4% of the GDP this year. citeste mai mult
Romania’s GDP Grew By 0,6% In Q1. The Country Is Out Of Recession
Romania 's GDP advanced in January-March period by 0.6 % compared with the last three months of 2010, so technically our country is out of recession after two and a half years , according to preliminary estimates announced today by the National Institute Statistics ( INS ) . Compared to the first quarter of 2010 , GDP grew by 1.6% unadjusted series and 0.3 % in seasonally adjusted series . For an economy to escape technical recession GDP needs to grow in two consecutive quarters . In the fourth quarter of 2010 compared to the previous three months , GDP registered a slight increase of 0.1 % . The economy went into recession in the third quarter of 2008, when GDP decreased by 0.1 % from the previous three months . citeste mai mult
Ernst & Young: Romanian Economy Will Grow 1% In 2011
According to a report by Ernst & Young, Romania’s GDP is expected to grow by 1% this year, mostly driven by exports, but domestic demand remains subdued. The authorities forecast an economic growth of 1.5% in 2011. The report also states that the economy is likely to grow up to 4% in 2012, as investments and local demand are expected to pick up. Ernst & Young analysts consider it is highly unlikely that Romania will be able to reduce its budget deficit to 3% of the gross domestic product by 2015. citeste mai mult
ING: Romania Not Likely To Reach Desired 2011 Deficit Target
According to ING analysts, Romania’s deficit cap of 4.4% of gross domestic product in 2011 is an “ambitious” target and the chances to reach this objective are slim, because of weaker-than-expected economic performance. According to the draft budget, the government plans to cut public costs by 2.2% of GDP in 2011, while increasing revenues by 0.3% of GDP. The budget deficit is expected to narrow to 4.4% of GDP, from 6.8% of GDP estimated for 2010. ING analysts said that reaching next year's targets would put Romania in a favorable light on international markets. The bank estimates Romania's budget deficit will be 5% of GDP in 2011, saying that the authorities are likely to face difficulties in continuing the assumed austerity measures because 2012 will be an elections year. citeste mai mult
Romania Q1 GDP Down 0,3%, Fourth Largest Decline In EU
Romania’s economy registered a 0,3% quarterly fall, compared to the last three months of 2009. This is the forth widest decrease in the European Union. The EU's gross domestic product inched up 0.2% on the quarter. The highest quarterly economic growth in the EU was reported in Portugal (+1%), while Lithuania and Estonia saw the sharpest contractions, of 4.1% and 2.3% respectively. Compared with Q1 of 2009, Romania's GDP fell 2.5% in the January-March period, also the fourth biggest decline across EU state, EU's statistics office Eurostat said. citeste mai mult
Romania Q1 Budget Deficit, In IMF Agreed Target
Romania’s Finance Ministry announced today that the country’s budget deficit in the first three months stood at 8.22 billion lei (EUR1=RON4.1380), just below the target agreed with the International Monetary Fund of RON8.25 billion. The deficit represents 1.5% of the 2010 projected DGP, which is estemated at RON538,9 billion. In the first quarter, the budget revenue was at RON37.5 billion, down 1.4% on the year. Public expenses amounted to RON45.8 billion, 0.5% lower than in the same period a year earlier. citeste mai mult
Romania Won’t Renegotiate IMF Deal
Romania’s Finance Minister Sebastian Vladescu announced that there will be no renegotiation of the agreeament between Romania and the International Monetary Fond, but the authorities will try to increase the funds allotted for public investments. "We won't renegotiate the agreement, but we will try to balance our objectives with our partners' targets, and supplement the funds for development," Vladescu said on Tuesday. He added that "there is an opportunity to support investments, which will not necessarily imply a higher budget deficit." The IMF deal states that Romania has to bring the budget deficit to 5.9% of the gross domestic product in 2010, from more than 7% of the GDP last year. citeste mai mult
Romanian Acting PM Emil Boc Predicts GDP Growth Of Up To 2% in 2010
Acting Prime Minister Emil Boc declared late Saturday that Romania will register economic growth of at least 0.5% of gross domestic product (GDP) in 2010 and up to 2% of GDP. "Next year, economic growth may be between 0.5% and 2% of GDP," Boc said on Realitatea TV. Both Romania's Prognosis Commission and the Monetary International Fund estimate for the next year a 0.5% growth, but in a more optimistic scenario Cristian Popa, vice-governor at National Bank of Romania, sees a plus of 1.5% of GDP for 2010. Romania's economy contracted 0.6% of GDP in the third quarter (less than the expected 0.7%) because of decreases in construction and trade, according to the country's statistics institute. Source: Mediafax citeste mai mult
Romania’s GDP Went Down By 7.1% YY
The revised data released today by the Romanian statistics institute INS shows that the country’s Gross Domestic Product shrank by a seasonally adjusted 0.6% in the third quarter compared with the previous quarter, amounting to 120.4 billion lei (EUR1=RON4.2496). The GDP registered a 7.1% annual decline. The GDP quarterly fall was driven mainly by declines in constructions, which were down 5.5% compared with the second quarter, and retail sector, which fell 2.6% on the quarter. Romania's prognosis commission CNP estimated the GDP will reach RON497.3 billion in 2009. It expects the Romanian economy will shrink by 7.7% this year, followed by a slight growth of 0.5% in 2010. citeste mai mult
Romania's Public Debt Rose To 28.08% Of GDP In The First Nine Months
Romania’s public debt rose to RON140.09 billion (EUR1=RON4.2811) at the end of September compared with RON109.75 billion at the end of 2008, reaching 28.08% of the gross domestic product from 21.78% of the GDP at the end of December, according to Finance Ministry data released today. Government debt stood at 92.84% of Romanian total debt over the mentioned interval, while local authorities' debt accounted for 7.16%. The public debt-to-GDP ratio was calculated using an estimated GDP of RON498.9 billion for this year. Romania's Finance Ministry sold state treasuries worth RON59.18 billion in January-September compared with RON8.5 billion sold in same period of 2008. In July-September, the ministry issued state treasuries worth nearly RON15 billion, with approximately RON7 billion representing bills issued in foreign currency on the local market. Normal 0 false false false... citeste mai mult
