Romania’s economy grew by only 0.9% last year, and in the last quarter of 2024, the Gross Domestic Product (GDP) increased by 0.7% compared to the same quarter in 2023 and by 0.8% compared to the previous quarter.
These figures were published on Friday by the National Institute of Statistics (INS).
In essence, we are talking about an economic growth in 2024 four times smaller than the forecast on which the state budget was initially based back in December 2023.
The same forecast predicted a budget deficit of 5%, but in the end it reached 8.65%.
Except for the pandemic's debut year (2020), this is the weakest performance of the Romanian economy in the last 12 years.
The 2025 budget is based on an economic growth of 2.5% and a budget deficit of 7% of GDP.