Bloomberg on Romania’s economic growth: Stimulating consumption is working

According to Bloomberg, which cites quarterly GDP data, Hungary, Romania and Poland are leading the European Union top, with differences of 4% compared to the previous year. At the same time, Hungary, Romania and the Czech Republic have exceeded expectations, although specialists are expected to follow a more pronounced deceleration. Unlike Germany, where the economic situation puts pressure on Chancellor Angela Merkel to resort to fiscal stimulus measures, the Polish and Hungarian governments have succeeded in boosting the economy.

GDP growth, achieved by Romania in the first half of the year, is at least 20% higher than the most optimistic international forecast of the European Commission. The second quarter of 2019 is the fifth quarter with an increase of the economic growth from one quarter to the other by over one percent, that is exactly the period when the current Government has intensified its actions to support the business environment and public investment projects. The constructions, tourism and services provided for businesses are the activities with the most important contribution to the economic growth.

High economic growth is also based on investor confidence in the business climate in Romania. Foreign direct investments exceeded 2.3 billion euros, in the first half of this year, being 30% higher than in the same period last year.