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.
Romanian President Klaus Iohannis said on April 16 he is rejecting a request from the justice minister to dismiss the head of the National Anticorruption Directorate (DNA), Laura Codruta Kovesi. ... more
International steel and mining company ArcelorMittal said on April 13 it has proposed a divestment package to the European Commission in a bid to obtain approval for its planned acquisition of ... more