Romania's GDP growth outstripped China's last year but the economy is already slowing and with warnings of overheating backed up by rising inflation, the question now is how hard Romania’s landing will be.
Romania's advance far outstripped the 14.6% average increase in the EU28 area, Eurostat data shows.
Fall in debt in local currency terms came despite significant government deficit in Q1, indicating a certain depletion of the government’s buffer.
Slovenia is the only East European country among the top 10 in terms of gains to GDP per capita due to globalisation, a study from German foundation Bertelsmann finds.
However, Romania's convergence with EU averages remains slow, and the sharp growth of the labour cost in Romania announced by Eurostat was offset by the highest inflation in Europe.
The volume of construction works in Romania contracted by 4.1% y/y in April after the average 2.2% y/y decline in Q1.