National Institute of Statistics releases data on GDP evolution in Q2, 2021

On Tuesday, the National Institute of Statistics (INS) released data showing the evolution of the economy in the second quarter of this year.

According to the figures announced in July by Statistics, the gross domestic product, seasonally adjusted data, estimated for Q1, 2021 was 286.198 billion lei current prices, on the increase, in real terms, by 2.9% compared to Q4, 2020 and by 0.1% compared to Q1, 2020.

As unadjusted series, the estimated GDP for Q1, 2021 was 225.051 billion lei current prices, down - in real terms - by 0.2% compared to Q1, 2020.

The European Commission has recently shown that Romania's economy is expected to grow by 7.4% in 2021 and 4.9% in 2022, higher than expected in spring, due to stronger-than-expected GDP performance in Q1, 2021.

The draft budget revision published by the Ministry of Finance at the end of last week shows that the gross domestic product is expected to register a nominal value of 1,174.9 billion lei, resulting from a real increase of 7% this year.