{"id":2105,"date":"2017-12-20T10:47:08","date_gmt":"2017-12-20T08:47:08","guid":{"rendered":"http:\/\/brutarul.ro\/?p=2105"},"modified":"2018-01-11T10:47:33","modified_gmt":"2018-01-11T08:47:33","slug":"romania-confirmed-eus-fastest-growing-economy","status":"publish","type":"post","link":"https:\/\/brutarul.ro\/en\/romania-confirmed-eus-fastest-growing-economy\/","title":{"rendered":"Romania confirmed as EU\u2019s fastest growing economy"},"content":{"rendered":"<p>Romania has been confirmed as the fastest growing economy in the EU, following figures released on August 17. The non-eurozone country expanded 5.7 percent in the second quarter of 2017, surpassing its predicted year-on-year growth rate of 4.8-5.1 percent.<\/p>\n<p>Other results from statistical body\u00a0<a href=\"http:\/\/ec.europa.eu\/eurostat\/documents\/2995521\/8134589\/2-16082017-AP-EN.pdf\/dc908a55-fc6d-42d8-ac25-d20c44fc40aa\" target=\"_blank\" rel=\"noopener noreferrer\">Eurostat<\/a>\u00a0revealed that Romania\u2019s economic performance is in keeping with the general EU trend, whereby Central European economies are growing at a faster rate than their western counterparts.<\/p>\n<p>Although the figures are encouraging, analysts have warned that such high levels of growth are largely being stimulated by government spending programmes and will prove difficult to sustain. \u201cRomania definitely stands out, but the quality of growth is not as impressive as the headline figure, because the economy is mainly driven by government\u2019s fiscal stimulus,\u201d Piotr Matys, an economist at Rabobank, told the<em>\u00a0<a href=\"https:\/\/www.ft.com\/content\/7a599264-825b-11e7-94e2-c5b903247afd\" target=\"_blank\" rel=\"noopener noreferrer\">Financial Times<\/a><\/em>. \u201cThat means the current rate of growth may not be sustainable when the positive impact of fiscal measures fades and both exports and investment remain sluggish.\u201d<\/p>\n<p>Although fiscal stimulus is not the only reason behind Romania\u2019s strong performance \u2013 increased demand is also causing growth in many Central European economies \u2013 government policies to reduce taxes and increase wages for public sector workers are a major factor. They also mean that Romania is predicted to run a budget deficit of 3.5 percent this year, the largest in the EU.<\/p>\n<p>The prospect of increased borrowing rates could ultimately make the monetary policies being pursued by many Central European governments look short sighted, but Brussels will no doubt be broadly pleased by the EU\u2019s current economic performance. The bloc as a whole grew by 2.3 percent in the second quarter of 2017.<\/p>\n<p>Source:\u00a0<a href=\"http:\/\/www.worldfinance.com,\">www.worldfinance.com,<\/a>\u00a0author &#8211;\u00a0Barclay Ballard<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Romania has posted a growth rate of 5.7 percent for the second quarter of 2017, surpassing analyst forecasts.<\/p>\n","protected":false},"author":4,"featured_media":2106,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[23],"tags":[27],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Romania confirmed as EU\u2019s fastest growing economy<\/title>\n<meta name=\"description\" content=\"Romania has posted a growth rate of 5.7 percent for the second quarter of 2017, surpassing analyst forecasts\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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