(The Romania Insider)
Romania’s seasonally adjusted GDP increased more strongly than expected in the fourth quarter (Q4) of 2020 compared to the previous quarter – namely by 5.3% in seasonally adjusted terms.
In annual terms, the country’s GDP was down only 1.7% year-on-year in the last quarter of 2020, a major improvement from the 5.6% yoy decline seen in Q3 and the 12.2% yoy plunge in Q2 during the lockdown. This resulted in an overall economic contraction rate of only 3.9% for 2020, according to the flash estimate issued by the National Statistics Institute (INS) on February 16.
