Service sector remains main driver of Romania's economic growth

Source: Xinhua   2016-11-26 02:49:55

BUCHAREST, Nov. 25 (Xinhua) -- Romania's National Prognosis Commission (CNP) on Friday maintained its forecast for this year's economic growth at 4.8 percent, with the dominant driver of the economy being the service sector.

The services sector's contribution to real GDP growth rose to 3.3 percent from 3.1 percent in autumn. For agriculture, growth fell 0.2 percent, in construction by 0.3 percent, while industry stagnated at 0.6 percent.

For 2016, the CNP estimates GDP growth of 758.5 billion lei (178.22 billion U.S. dollars), and for 2017 an increase of 4.3 percent, amounting to a value of 807.4 billion lei.

The World Bank earlier this week improved its estimates for Romanian GDP growth this year to 5.1 percent from 4 percent as estimated five months ago.

The International Monetary Fund recently estimated a 5-percent economic growth in Romania in 2016, the highest in Europe.

The European Commission in early November also revised upwards its Romanian growth estimates by one percentage point, to 5.2 percent.

Editor: yan
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Service sector remains main driver of Romania's economic growth

Source: Xinhua 2016-11-26 02:49:55

BUCHAREST, Nov. 25 (Xinhua) -- Romania's National Prognosis Commission (CNP) on Friday maintained its forecast for this year's economic growth at 4.8 percent, with the dominant driver of the economy being the service sector.

The services sector's contribution to real GDP growth rose to 3.3 percent from 3.1 percent in autumn. For agriculture, growth fell 0.2 percent, in construction by 0.3 percent, while industry stagnated at 0.6 percent.

For 2016, the CNP estimates GDP growth of 758.5 billion lei (178.22 billion U.S. dollars), and for 2017 an increase of 4.3 percent, amounting to a value of 807.4 billion lei.

The World Bank earlier this week improved its estimates for Romanian GDP growth this year to 5.1 percent from 4 percent as estimated five months ago.

The International Monetary Fund recently estimated a 5-percent economic growth in Romania in 2016, the highest in Europe.

The European Commission in early November also revised upwards its Romanian growth estimates by one percentage point, to 5.2 percent.

[Editor: huaxia]
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