Romania economic growth conservatively put at 1.6 pct in 2013

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Romania’s economic growth in 2013 is conservatively put at 1.6 percent, so as to curb the risk of a negative budget revision in the event of turbulence in the global markets, reveals a Government memo on this year’s draft budget.

The authorities anticipate that all the economy sectors will make a positive contribution to the Gross Domestic Product growth this year, with the highest positive influence to be made by services at 0.5 percent.

Agriculture, after having had a strong negative influence on the economic growth in 2012 this year will make a positive contribution at 0.4 percent, with construction to contribute 0.3 percent and industry and the net product taxes to contribute 0.2 percent each.

Domestic demand will account for 2.5 percent of this year’s growth, while the net export of goods and services will again have a negative influence at 0.9 percentage points.

Private consumption and investments will have the highest positive influence on the recovery, at 1.5 percent and one percent respectively.

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