Romania’s economy grew by 0.7% year-on-year in the fourth quarter of 2024, compared with a 3.3% annual increase in the same period of 2023, the statistics office said, citing non-adjusted flash data.

On a seasonally adjusted annual comparison basis, gross domestic product (GDP) also increased by 0.7% in the fourth quarter of last year, compared to 2.1% real growth in the fourth quarter of 2023, the statistical service, INS, said in a data release.

Compared to third quarter of 2024, GDP expanded by 0.8% in October-December.

Last year, Romania’s economic output rose by 0.9%, compared to a 2.4% expansion in 2023.

INS has revised the economic growth figures for the first quarter of 2024, compared to the previous quarter, to a decrease of 0.3% from a decrease of 0.4%. Additionally, the results for the third quarter of 2024, compared to the previous quarter, were revised to 0.1% growth from zero.

Romania’s economic output is projected to increase by an estimated 2.5% in 2025, according to the country’s 2025 budget plan.