Romania is still in recession, statistical data for the first quarter show.
The National Statistics Institute (INS) announced today (Weds) that Romania’s first quarter gross domestic product shrank by 0.3 per cent in real terms compared with the earlier quarter.
Preliminary adjusted data showed the first-quarter GDP fell 2.5 per cent from the same period of 2009. In unadjusted data, the yearly contraction in the January-March period was 2.6 per cent.
Romania's economy fell by 7.1 per cent in 2009, after registering 7.1 per cent growth in 2008.
The International Monetary Fund (IMF) said last week that the IMF considers a possible minor contraction this year, but a better evolution is forecast for 2011, when the IMF envisages a 3.6 per cent growth.
Previously, the IMF had forecast 1.3 per cent economic growth for Romania in 2010, followed by a lower forecast of 0.8 per cent.
Romanian Times
