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The Minister of Finance parades after the INS confirmed that Romania had economic growth in the first quarter, despite the economic crisis caused by the coronavirus.
Finance Minister Florin Cîţu says that there is a very high probability that we will not have two consecutive quarters of economic contraction, thus avoiding the technical recession, but stresses that in 2020 we can no longer have the economic growth estimated at the beginning. He begins his Facebook post with an ironic message addressed to Marcel Ciolacu, the PSD president: “Mr. Ciolacu, I hope your INS statement is healthy! The INS confirms my estimates!”, According to News.ro.
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“Mr. Ciolacu, I hope the INS statement finds you healthy! INS CONFIRMS my estimates! The measures we implemented came into effect and the economy grew in real terms in the first quarter of this year. Despite all the Apocalyptic obstacles and scenarios that come from the PSD and its trumpets in public space, I told them we are doing fantastic things. Of course, we will not have the estimated economic growth in early 2020. Of course, we will have a larger deficit. But we promised to do everything possible to limit the negative effects of this crisis for Romanians, “writes the Minister of Finance, Florin Cîţu, on his Facebook account.
The official says that the measures taken by the liberal government, together with the figures for the first quarter, give him confidence that the economy is beginning to recover from the third quarter and we will have a dynamic in V.
“There is a very high probability that we will not have two consecutive quarters of economic contraction. In other words, we will avoid the technical recession,” added Cîţu.
In the seasonally adjusted series, in the first quarter of 2020, compared to the previous quarter, the Gross Domestic Product increased by 0.3%. Compared to the same quarter of 2019, the Gross Domestic Product registered an increase of 2.4% in the gross series and 2.7% in the seasonally adjusted series, as shown by INS data.
“This message must be read in particular by Ciolacu ‘put your hands on the book’, Alfred ‘MiniMiss’ and Budai ‘the driver’. To make him see that I am not bad, I made the effort to explain this statement to him. He did not understand if : read it yourself. #RomaniansYou Need to Know, “writes the Minister of Finance.
Gross Domestic Product increased 2.4% in the first quarter and 2.7% in the seasonally adjusted series, compared to last year, the National Statistics Institute (INS) said in a statement on Friday.
“The Gross Domestic Product increased 2.4% in the gross series and 2.7% in the seasonally adjusted series. The seasonally adjusted series of quarterly Gross Domestic Product was recalculated as a result of the inclusion of estimates for the first quarter of 2020, which registered differences with the version published in press release No. 91 of April 7, 2020, “shows the INS.
The “signal” estimates, as well as the provisionals of the quarterly gross domestic product, are affected by the difficulties created by the pandemic crisis and by the establishment of the state of emergency, the INS affirms.
“These difficulties have been related to the collection of basic data representing entries for national accounts and have resulted in an increase in the non-response rate. Alternative sources have been used to complement the information that affects, as little as possible, According to the Current practice, data released today will be subject to review, in accordance with the press release schedule and the National Accounts Review Policy posted on the INS website, as new data sources become available. revisions could be larger than usual, “the INS statement shows.
In the seasonally adjusted series, in the first quarter of 2020, compared to the previous quarter, the Gross Domestic Product increased by 0.3%. Compared to the same quarter of 2019, the GDP registered an increase of 2.7%.
In the gross series, compared to the same quarter of 2019, the Gross Domestic Product, in the first quarter of 2020, registered an increase of 2.4%.
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