In Q2 2011, Romania had the weakest economic annual growth of the EU (0.3%), according to Eurostat estimates.
Furthermore, the Gross Domestic Product (GDP) only increased 0.2% (seasonally adjusted data) in Q2 2011, compared to 0.7% in Q1 2011, according to estimative data of the National Statistics Institute (INS).
Analysts have diverging opinions concerning the economic growth of the second quarter.
* Liviu Voinea: "The growth isn"t caused by certain economic conditions, nor does it reflect the living standard"
The overall growth of the economy this year, is achieved compared to the basis effect, (i.e. by comparison with a preceding bad year), said Liviu Voinea, the executive director of the Applied Economy Group (GEA). He said that the growth of 0.2% of the second quarter "is purely statistic, on paper, it is not owed to certain economic conditions, nor does it reflect the living standard". Liviu Voinea added: "Unfortunately, no major source of growth for the economy can be seen, not this year, nor in the following years. Even assuming that the official estimates are valid (ed. note: 1.5% economic growth in 2011, and 3.7% in 2012), the GDP will return to 2008 levels in 2014, but will indebt ourselves three times more."
The growth of the GDP of 0.2% is very small and is within the 0.3% margin for error, according to the executive director of the GEA.
* Dragoş Cabat: "Exports and industrial output have continued to be the engines of economic growth"
"Exports and industrial production were the engines of economic growth, even though their advance has slowed down compared to the first quarter", said Dragoş Cabat, the vice-president of "CFA România".
He added: "If we are comparing our performance to that of our trade partners of the EU, our country"s results are positive, but they will worsen in the future, if Germany, Fra
