5.7 pct economic growth – confirmation of Government’s correct measures

5.7 pct economic growth registered in the first quarter of 2017, as compared to the first quarter of 2016, is a confirmation that the measures taken by the Government are the right ones, stated Premier Sorin Grindeanu.

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This economic growth exceeds the expectations of analysts and international bodies — International Monetary Fund (IMF), World Bank (BM), the European Commission (CE), added the Prime Minister.

“Romania recorded the highest growth in the European Union in the first quarter of this year, according to data published by Eurostat today,” reads the press release.

According to the quoted source, the Government will continue to support the economic growth trend by stimulating public investment, accelerating the attraction of European funds, and improving the tax collection and reduction of tax evasion.

Economic growth is also the result of business confidence in the economic measures announced by the Government for the next period — including the Prevention Law, the establishment of the Sovereign Wealth Fund — also proven by the confidence indicators calculated by the European Commission, mentions the press release.

“For 2017, we are aiming at attracting substantial European funds to the Romanian economy, namely EUR 5.2 billion. At the same time, I personally monitor the weekly working meetings, the improvement of tax collection and combat of tax evasion. These are levers that support the pace of the economic growth so that the evolution of the economy can be felt in Romanians’ everyday life,” states Grindeanu.

According to the Government, the economic growth rate of 5.7 pct, higher than the estimated figure for the entire 2017, respectively 5.2% pct was anticipated by other developments in the economy. Thus, exports peaked to a record high in March 2017, namely EUR 5.7 billion, and more than 100,000 new jobs were created in the first four months of the year.

“The industrial output has high expansion rates — a positive development in the manufacturing / medium and high-tech industries,” the release mentions, also pointing out that the unemployment rate is “at a historical low after 1989”