Romania’s economy up 9.1% in Q3

For most economists, agriculture played a major role in the July-September period GDP was high in the third quarter, especially compared to other countries in the region. Agriculture was the main engine for this economic growth, followed by construction,” said Lucian Anghel, Chief Economist of Banca Comerciala Romana (BCR).

In the second quarter, GDP rose a staggering 9.3 percent, while growth in Q1 amounted to 8.8 percent. Growth above 9 percent was last registered in 2004.

In its latest forecast, the National Commission for Prognosis (CNP) estimated 9.1 percent economic growth for the whole of 2008. Last year, GDP advanced 6 percent, to €121.2 billion.

However, analysts are not very optimistic about the €132.2 billion in GDP expected by the end of 2008, as December is a month with intensive consumption. Furthermore, “economic growth will be lower in the last three months of the year, compared to the previous quarters,” Anghel added.