Romania avoids recession in 2012, but economic increase is close to stagnation

Romania’s GDP was 0.2 percent higher quarter-on-quarter in the last quarter of 2012, according to the country’s Statistical Institute (INS).

Romania thus did not enter recession in the last months of 2012. The last quarter of the year brought an increase of 0.3 percent year-on-year in the raw results, and an increase of 0.1 percent compared to the last quarter of 2011 using seasonally adjusted figures.

For the entire year, the GDP advanced by 0.2 percent compared to 2011. The INS will publish the actual GDP values on March 6.

The country expects a modest increase this year, of 1.5 percent, which has already been revised down from 2.5 percent. The same downwards revisions happened in 2012, when the authorities had estimated 2.5 percent, but lowered the expectations close to zero.

Adapted from Romania-insider