Property in Romania

Romania expects higher economic growth in Q2

Romania’s National Commission for Prognosis has announced a higher economic growth for the second quarter of 2006 that might exceed the 6.9 per cent gross domestic product (GDP) growth posted in the first quarter of the current year, the Romanian Rompres news agency reported yesterday.

According to the commission, the higher economic growth in the second quarter might raise the GDP to over 7 per cent for the first semester of the current year.

The industrial output grew in the first six months by 6.7 per cent, in real terms, compared to the same period a year ago. The turnover of the companies dealing in trade was by 16.5 per cent higher than in the same period in 2005.

The construction sector kept on posting growth of 16.4 per cent by the end of June against 2005, in terms of the volume of the construction works.

The annual inflation rate dropped to post-1990 historic lows, at 6.2 per cent in July on the background of reduced foodstuff prices thanks to an agricultural year with no negative events.

According to the commission, the unemployment rate continued to fall down to 5.1 per cent at the end of July, after a historic low of 5.5 per cent recorded in May.

Date posted: August 3, 2006