Romania's GDP estimated for 2017 up by 6.9 percent as against 2016

The National Statistics Institute (INS) reported in a press statement that the Gross Domestic Product estimated for Q4 2017 amounted to 258887.4 million lei current prices, up in real terms by 6.7 percent as against Q4 2016.

Gross value added was declined 0.1 percentage point, with more important changes being recorded in: construction (-0.3 percentage points); wholesale and retail; repair of motor vehicles and motorcycles; transport and storage; hotels and restaurants (-0.2 percentage points); public administration and defence; social insurance of public sector; education; health and social assistance (-0.3 percentage points). Net taxes on products growth rate increased by 0.4 percentage points.

The annual inflation rate went up to 5 percent in March 2018, from 4.7 percent in the previous month, on the grounds of non-food product prices going up by 6.57 percent, those of food products by 4.01 percent, and those of services by 2.9 percent.

A higher annual inflation rate was registered in June 2013, when consumer prices went up 5.37 percent.

Compared to February, consumer prices went up 0.3 percent, in the context in which prices of food products increased 0.48 percent, the non-food products advanced 0.15 percent, and services prices grew 0.30 percent.

In February this year, the National Bank of Romania (BNR) revised upwards to 3.5 percent, from 3.2 percent, the inflation forecast for the end of this year. For the end of 2019, BNR estimates a 3.1 percent inflation rate.

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