Eurostat, the European statistics institute, shows Romania tohave had a 6.2% actual GDP growth, 1% lower than the figurepublished by the National Statistics Institute, which amounts to a1 billion-euro gap.
Were the figure published by Eurostat true, Romania's economicperformance last year would have been an illusion, and the othermacroeconomic indicators would significantly change.
Where is the mistake?
The National Statistics Institute sent the final GDP figure for2007 to Eurostat in September, and it is higher than the valuepublished in the preliminary data.
"Because the value of the GDP for 2008 was not revised, with ahigher comparison base, the economic growth is lower," says AdrianaCiuchea, manager with the INS in charge of national accounts.
In January, when INS sends the recalculated 2008 GDP toEurostat, the European data will show an economic growth in theneighbourhood of 7.1%.
"A one percentage error for the GDP growth pace is out of thequestion, because it compares against a different GDP version for2007. To calculate the 2008 GDP the scope of the data wasnarrower," Ciuchea says. In the preliminary data's case, theprevious year's GDP is multiplied by a volume index (which in 2008changed as a result of the increase in the 2007 value) and in thefinal data, the GDP is calculated based on more complete anddetailed data sources.
Pentru alte știri, analize, articole și informații din business în timp real urmărește Ziarul Financiar pe WhatsApp Channels
