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Year 2013 - Economic Figures

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For the whole of 2013, Romania’s GDP, meaning the total of goods and services in the overall economy, went up by 3.5% against 2012, according to the National Institute of Statistics.
Those are positive signals, which should also be sustained for this year and the next, as Prime Minister Victor Ponta put it. He claimed that this year Romania would save 2 billion Euros when taking out loans on financial markets. He also said that, starting on 1 July, there were plans to reduce social security contributions, but most likely the measure to be taken would be exempting reinvested profit from taxation:
“Things went well in 2013. It went well in terms of economic growth, deficit, European fund absorption, and of course, in 2014 we may continue to boost measures for social balancing, pensions, wages, and for the private industry. Rising exports and growing industrial output were very important. We are on the same growth trend. Of course we can afford to go ahead with such measures when things go well. We saw investments grow in 2013 as well, therefore exempting reinvested profit from taxation is a feasible objective.”

Professor Dan Armeanu from the University of Economic Studies of Bucharest says that unfortunately, the economic growth is not reflected in the pockets of the population:
“Right now things are good. We have a very good marcroeconomic stability, and here we can go into details: one of the highest economic growth rates in the EU, a small public debt, in the context of the European crisis, a low inflation rate, which is on account of the good agricultural year, an unemployment rate within reasonable limits, much lower than the EU average, and the lowest current account deficit of the last 20 years. In 2013, the good farming year saved the economic growth, and impacted inflation. Here we should add exports, because they developed a lot based on exports outside the Eurozone, and that would be very good for the future economic growth if it becomes permanent. The problem is that this economic growth, unfortunately, is not reflected in the pockets of the population.”

The European Commission anticipates a 2.3% growth rate in the Romanian economy for 2014.

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