* Boc: This is the greatest increase in the last two years
* Analysts: The economy will grow more than 1.5% this year
The GDP increased in Q3 2011 by 1.9% (in real terms), compared to the previous quarter, whereas compared to the same period of 2010 the advance was 4.4% (gross series), according to the latest estimates of the National Statistics Institute (INS).
In seasonally adjusted terms, the economic growth between July and September was 4.5% higher than in the similar period of 2010.
In the first nine months, the GDP increased 2.7% compared to the corresponding period of 2010 on a gross series and 2.6% on a seasonally adjusted series.
Prime Minister Emil Boc yesterday said that Romania is on schedule to experience a growth of 1.5% and 2%, being the greatest increase of the last two years. He added that data published yesterday by the National Statistics Institute prove that the government's policy to invest and create jobs, was right.
Emil Boc said: "We can conclude that Romania had four consecutive quarters of economic growth, namely the last quarter of 2010 and the first three of 2011, which proves that the country is on schedule to experience an annual growth of 1.5% and 2% for the year 2011".
Dan Lazăr, secretary of state in the Ministry of Public Finance, said that the 4.4% advance of the GDP in the third quarter, was caused by the growth of the agricultural sector, according to Mediafax. Still, the "recovery" of the economy isn't being felt in the level of taxes collected, because agriculture isn't properly collected.
Dan Lazăr said: "We are seeing a recovery of the Romanian economy, a growth of more than 4% of the GDP, which is making us optimistic. Unfortunately, on a fiscal level we haven't felt it so much, because agriculture isn't taxed. If things continue this way, then I say that the tax forecas
