PM Ponta, enthusiastic regarding economic development. Romania’s GDP growth, revised downwards by INS, however increase remains high – 4.1 pc

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PM Victor Ponta considers the figures released by the National Institute for Statistics (INS) as showing the economy ‘develops at a sustained pace’ and is heading towards ‘record growth’ in 2015.

“Very good news from the INS! We have 4.3% growth in Q1 2015 as compared to the same quarter in 2014, a GDP by 1.5 percent higher than in the prior quarter! This is again a confirmation that we have some of the best results in the EU! Those who see ‘disasters’ everywhere do nothing else but propaganda – the actual data shows us the economy is developing at a sustained pace and we are heading towards record growth this year! Which proves that all the measures that we take are sustainable!” Ponta wrote on Facebook on Tuesday.

The National Statistics Institute (INS) has revised downwards by 0.1 percentage points the economic growth in the first quarter, from 1.6% to 1.5% as compared to the last quarter of last year and from 4.2% to 4.1 % as compared to Q1 2014, according to seasonally adjusted data.

The GDP estimate for Q1 rose by RON 1.04 billion to RON 175.89 billion in current prices, according to seasonally adjusted data. However, the increase in real terms was of 1.5% against Q4 last year and of 4.1% against Q1 2014, an INS release reads.

In INS’s previous estimate, the GDP stood at RON 174.85 billion in current prices, up by 1.6% as compared to Q4 2014 and by 4.2% compared to Q1 last year.

The budget for this year was based taking into account a GDP growth of 2.5%. The latest estimate of the National Prognosis Commission, dated in May, considered an advance of 3.3%.

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