Romania: YOY growth in first quarter of 2020 at 2.4%

Romania: YOY growth in first quarter of 2020 at 2.4%

According to data released on Tuesday by the National Institute of Statistics, the annual growth of the Romanian economy in the first quarter of this year (January-March) was 2.4%, highlighting Romania as one of the EU countries with the strongest growth.

RFI Roumanie published statements by economist Dragos Cabat noting that “in the context of declining consumption, continuous public investment is necessary to support the economy”.

According to the National Institute of Statistics, in the first quarter of 2020, net investment in the national economy amounted to 18,446.9 million lei, an increase of 5.0% compared to the first quarter of 2019.

In the first quarter of 2020, compared to the first quarter of 2019, net investment in the national economy went up by 5.0%; in new constructions there was a 20.3% surge, while in machinery (including means of transport) the rise was recorded at 8.8%. Other expenses decreased by 37.3 %. /ibna