Romanias Q2 GDP up by 0.3-0.4% q/q government.

By bne IntelliNews August 1, 2011
The Romanian government estimated that the Q2 GDP increased by 0.3-0.4% q/q, easing from the 0.7% q/q advance in Q1, but remaining positive for a third consecutive quarter, Mediafax reported. The annual growth has also declined to 1.5% y/y from 1.7% y/y in Q1. The government projected that the full-year GDP would edge up by 1.5% y/y against last years 1.3% y/y contraction and confirm the countrys economic stabilisation after the sharp 7.1% contraction in 2009. According to Mediafax, the government has also informed that the IMF maintained its 1.5% projection for this years growth while downgrading by 0.2pps the 2012 forecast to 3.7%. Separately, the government projected a 4.8% y/y year-end inflation . The adjustment announced by the government in its inflationary expectations is not surprising as the consensus projections moved upward through H1 and the central bank upped the year-end projection to 4.9% y/y.

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