PM Citu: Economic growth due entirely to investments and not consumption

The economic growth of 2.9pct is due exclusively to investments and not to consumption, which is a premiere for Romania, Prime Minister Florin Citu said on Friday.

"The INS (National Institute for Statistics) published details on economic growth in the first quarter of 2021. There are two important things there that show we've changed the paradigm, that we are making reforms, and that economic growth is sustainable. First of all, public administration consumption has fallen - in just six months we've made important steps towards stopping the waste of public money. Second of all, the economic growth of 2.9pct is due exclusively to investments and not to consumption. And this is an absolute premiere for Romania!," Citu wrote on Facebook on Friday.

The PM claims that this is "just the beginning."

"I know we can do more and faster! Today we have all the leverage to accelerate reforms to restructure state-owned companies, eliminate tax evasion and attract EU funds faster. The European Commission estimates a 7.4pct increase for 2021. We are accelerating the pace reforms and Romania can reach a double-digit economic growth rate for the first time," added Florin Cîtu.