Romania’s GDP up by 2.8 pc. in Q1 2021

Romania’s economy grew by 2.8% in Q1 2021, as compared to Q4 2020. The announcement was made on Tuesday, May 18, by the National Institute of Statistics.

Romanian PM Florin Citu reacted immediately on his Facebook account:

We promised, we delivered. Romania’s economy grew by 2.8% in Q1. Congratulations, Romanians! Romania has the quickest economic recovery in history, following the biggest economic crisis in the last hundred years.

Romanian PM Florin Citu

The measures taken by the Romanian Government proved to have been successful in creating the necessary conditions for the recovery of the economy. From this perspective, all the international institutions forecast solid growth for the Romanian economy, by 5% in 2021 and in 2022 respectively. Moreover, there are even higher forecasts, which places Romania second in the EU by the economic growth in 2021.

Yet, one thing has to be pointed out even among this optimism: when comparing Q1 2021 with Q1 2020 there is still a difference of 0.2% to be recovered, which means that Romania still has to put in some serious efforts to reach the forecast growth of 5% at the end of the year. Besides, Romania has to face the perspective of a huge inflation rate, estimated to be 4.1% this year, according to the Romanian Central Bank.