Romanian economic crisis lifting?

Your Monday dose of cautious optimism comes from Romania, where the head of the national statistics office Vergil Vineagu said the worst of the crisis could be passing now.

“When I say the intensity of the effects of the crisis in the economy is lessening, I have two aspects in mind: the rise in the share of services to GDP composition and the positive trend of industry, especially the manufacturing industry,” Voineagu told a conference organised by the INS.
In the first quarter of the year, the economy fell by 2.6% against the similar period of last year, to 96.7 billion RON (23.5 billion euros). Industry was the only rising sector during this period, up by 4.2% against the similar period of 2009, while services and constructions each contributed 1.2% to the 2.6% GDP decline.

“When I say the intensity of the effects of the crisis in the economy is lessening, I have two aspects in mind: the rise in the share of services to GDP composition and the positive trend of industry, especially the manufacturing industry,” Voineagu told a conference organised by the INS.
In the first quarter of the year, the economy fell by 2.6% against the similar period of last year, to 96.7 billion RON (23.5 billion euros). Industry was the only rising sector during this period, up by 4.2% against the similar period of 2009, while services and constructions each contributed 1.2% to the 2.6% GDP decline.

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One response to “Romanian economic crisis lifting?

  1. Pingback: Romanian economic crisis lifting? « CIJ Blog | Stiri Romania

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