Q3 to bring 4.6 - 5% economic growth

“The poor performance in agriculture and net exports will produce an economic growth of only 4.6 - 4.8 percent in Q3. This means that GDP advancement for 2007 would amount to just 5.6 percent,” ABN Amro’s Chief Analyst, Radu Craciun, told Business Standard.

Furthermore, the National Prognosis Commission (CNP) reviewed its estimations for 2007 macroeconomic indicators, GDP growth dropping by 0.4 percent, to 6.1 percent. “Economic growth had a downward revision to 6.1 percent, compared to the authorities’ spring forecast of 6.5 percent, due to acute drought. There are chances to maintain a 6 percent growth if no further disturbing phenomena occur,” CNP President, Ion Ghizdeanu, told Business Standard. Read all the article