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UPDATE Romania posts the highest economic growth in the EU in Q3 of 2017

Romania recorded in the third quarter of this year the most significant advance of the gross domestic product (GDP) among the EU’s 28 Member States, 8.6 percent compared to the same period in 2016, according to a flash estimate published by Eurostat, the statistical office of the European Union.

Data show the seasonally adjusted GDP rose by 0.6 percent in both the euro area (EA19) and the EU28 during the third quarter of 2017, compared with the previous quarter.

In the second quarter of 2017, GDP grew by 0.7 percent in both zones.

Compared with the same quarter of the previous year, seasonally adjusted GDP rose by 2.5 percent in both the euro area and the EU28 in the third quarter of 2017, after +2.3 percent and +2.4 percent respectively in the previous quarter.

The largest quarterly growth in the EU during July-September 2017 was recorded in Romania (2.6 percent), Latvia (1.5 percent) Poland and Finland (both 1.1 percent). The only decline was recorded in Denmark, -0.3 percent.

Romania has the first economic growth in EU and this is the only way to improve living standards, Fin Min Ionut Misa stated in a press release, pointing out that country’s economic situation is incomparably better than in 2016.

”Currently, our country is among the most dynamic economies of the European Union, and the development direction is appreciated by investors and international organisations,” Misa said, following Eurostat data.

Ministry of Public Finances (MFP) also notes that the second budget rectification this year, finalized in November, is a positive one and has been carried out framing in the assumed deficit of 2.96 percent of GDP.

Read also about INS signal figures.

About Anca Bernovici

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