Loading ...Romania's economic growth slowdown in the last quarter of 2008, to 2.9 percent, is normal and shows that the crisis effects are also being felt in Romania, stated on Wednesday Minister of Public Finance Gheorghe Pogea in a seminar on financial issues. Decline of the economic growth pace in Q4 is normal and shows that demand has also contracted in Romania, where the effects of the economic global crisis are also felt, said Pogea.
"What is worrying is the fact that we estimated a full-year economic growth of 7.8 percent and this proved to be 7.1 percent", pointed out MFP official, who did not announce the level of the 2008 budgetary deficit under the new conditions. Romania's Gross Domestic Product (GDP) estimated for 2008 stood at 503.958 billion lei at current prices, up 7.1 percent in real terms from 2007, according to data released on Wednesday by the National Statistics Institute (INS).
Significantly, the growth was determined by the boost of the activity volume and, consequently, of the gross added value in agriculture, forestry and fishery (plus 21.4 percent) and constructions (plus 26.1 percent), whose contribution to the GDP forming accounted for 17 percent in 2008.
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