The Romanian economy grew by 7 percent of GDP in 2017, marking the biggest expansion since 2008, according to flash estimates of the National Institute of Statistics (INS).

In the fourth quarter of 2017, the economy gained 7 percent on seasonally adjusted terms and 6.9 percent on gross series versus Q4 2016.

Compared to Q3 2017, the economy grew by 0.6 on seasonally adjusted terms in the last quarter of 2017.

Economists say that the increase of wages in the public sector coupled with the reduction of taxes fueled the consumption and the economic growth, although it led to external imbalances. For instance, the current account deficit widened by 85 percent to EUR 6.46 billion in 2017 y/y, according to the National Bank of Romania (BNR).

The post Romania’s economy expanded by 7 pct in 2017 appeared first on Business Review.