Romanian economy slows down to 4.1 percent in 2019

The Romanian economy slowed down to 4.1 percent last year, after 4.4 percent in 2018 and 7.1 percent in 2017, show flash estimates released by the National Institute of Statistics on Friday.

The GDP advance in Q4 2019 from the previous quarter was 1.5 percent, while growth in the third quarter was 0.6 percent QoQ.

Compared to the similar period of 2018, economic growth was 4.3 percent as unadjusted series and 4.2 percent as seasonally adjusted series.

In November 2019 the National Strategy and Prognosis Commission revised downwards its estimates for the 2019 economic growth to near 4 percent from 5.5 percent in its Spring Forecast, taking into account the sectoral statistical data of the national accounts available for H1 2019.

The European Commission was estimating in November last year that the Romanian economy will slightly pick up to 4.1 percent from 4 percent in 2018, similar to the IMF estimates, which said the Romanian economy would advance 4 percent in 2019.