Romania‘s economy rose by 5.6% in 2021, after decreasing by 3.7% in the previous year, flash data from the country’s National Institute of Statistics (INS) showed on Tuesday, according to See News.
In the fourth quarter alone, Romania’s gross domestic product (GDP) rose 2.2% year-on-year, following a 7.4% annual rise in the third quarter.
Based on seasonally adjusted figures, Romania’s economy rose by an annual 2.7% in the fourth quarter, compared to a 7.6% annual increase in the previous quarter.
On a quarterly comparison basis, Romania’s GDP fell 0.5% during September-December, following a 0.1% quarterly growth in the previous quarter, seasonally adjusted data showed.
The full-year 2021 economic growth figure is below the government’s estimates.
Finance ministry analysts said in August that the country’s economic output will increase by an estimated 7% in 2021, revising their previous forecast for 5% growth.