A new tiger? Romania hits 5.2 per cent growth in last quarter | beyondbrics:
"Five per cent GDP growth is these days more associated with the fittest Asian and African emerging economies than the sluggish EU fringe, but Romania has sprung a surprise with its Q4 2013 figures, its best for five years.
A flash estimate from Bucharest’s National Institute of Statistics on February 14 suggests that the economy grew by 5.2 per cent year-on-year in the final quarter of last year. This takes its full-year rate to 3.5 per cent, among the fastest in Europe and appreciably above a recent IMF forecast of 2.8 per cent. Meanwhile inflation, once a serious concern, fell to an all-time low of 1.1 per cent in January.
A research note by BCR, Romania’s biggest bank, said in a research note that “external demand (exports of goods and services) most likely remained the main growth driver in 4Q, as in all of 2013”. A strong harvest is also likely to have been a factor – Romania’s growth rate has historically been susceptible to agricultural fluctuations."
'via Blog this'
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