Romanian Govt Sees GDP Up 0.3-0.4% In 2Q, Inflation At 4.8% In 2011

Romania's Government estimates a 0.3-0.4% growth of the gross domestic product in the second quarter, compared to the first, and an inflation rate of 4.8% this year, below the central bank's forecast, people close to the matter told MEDIAFAX.

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These figures mean the GDP increased by almost 1.5% in the second quarter of 2011, compared to the same period of 2010, the sources said.

In May, the central bank revised upwards its forecasts for 2011 and 2012 annual inflation to 5.1% and 3.6%. Previously, the bank expected the annual inflation at 3.6% in 2011 and at 3.2% in 2012.

According to the cited sources, the International Monetary Fund has kept its GDP growth forecast at 1.5% for this year and lowered its estimate for next year by 0.2 points, to 3.7%.

The National Statistics Institute will publish its data on the economy's evolution in the second quarter on August 16.

A joint mission of the IMF, European Commission and World Bank is in Romania until August 1 to assess the country's half-year results under a precautionary stand-by loan agreement.

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