Romania economic growth slows down in Q3 - flash data

Joi, 14 noiembrie 2019, 10:54 English | Business

The growth of Romanian economy stood at 0.6% in Q3 this year, as compared to the previous quarter. Compared to Q3 2018, the GDP gre 3.0%, while yoy growth for the first nine months of the year was of 4.0%, according to flash data of the National Statistics Institute on Thursday.

"Economic growth offers a negative surprise", a commercial bank commented in a report sent within an hour since the publication of the data.

Prospects are shadowed by fiscal challenges as plans to increase salaries and pensions, as decided by the previous government, come against the objective of keeping the deficit below 3% of the GDP.

"As compared to the second quarter of 2019, economic growth slowed down suddenly - a tendency that will probably continue for the short term because of weak growth in the Euro zone", the report says.