Romania’s statistics office INS confirmed under its second estimate that the country’s GDP advanced by 4.1% in Q3 2013 alone and by 2.7% y/y in Jan-Sep.
Nominally, the Q3 GDP was corrected downward by 0.5% to RON 174.5bn [EUR 39.3bn] and this also resulted in a 0.2% negative correction of the Jan-Sep GDP that was re-estimated at RON 442.3bn [EUR 100.3bn]. No correction was operated on the Q1 and Q2 GDP.
The main difference compared to the first estimate of the Q3 GDP is that the consumption has actually stagnated – and not increased slightly as previously estimated.
Thus, the total [private and public] consumption edged down by 0.1% y/y in Q3 compared to a small 0.6% y/y advance estimated previously. Private consumption was corrected from a 1% y/y advance to only 0.5% y/y, while public consumption was corrected to minus 5.9% y/y from minus 3.2% y/y. The gross fixed capital formation decreased by 4.1% y/y compared to 4% under the first estimate.
Bucharest listed Digi Communications announced on July 21 that its Hungarian subsidiary, Digi Tavkozlesi es Szolgaltato, has signed an agreement to acquire Hungarian broadband and telephone provider ... more
A Romanian court ruled on July 18 that media tycoon and former politician Dan Voiculescu, who was sentenced to 10 years in prison in August 2014, should be released on parole after serving ... more
Evolution Equity Partners announced on 17 July the final closing of a new fund with total capital commitments of $125mn to make investments in cybersecurity and next generation enterprise software ... more