Expert: GDP data show an economy that has lost some of its traditional growth drivers

The data published on Gross Domestic Product (GDP) in the first half of the year show an economy that has lost a significant part of its traditional growth drivers, as consumption is falling, industry is contracting, while trade, transport and the HoReCa sector are seeing a decline in activity, Florin Jianu, president of SMEs Romania, believes."For small and medium-sized enterprises, these developments translate directly into lower demand, pressure on turnover and additional difficulties in making investments. In an economy that is shrinking by 0.7% in the first half of the year and where household consumption is down 2.5%, introducing new tax burdens on the private sector would have the effect of further deepening the economic slowdown. We need measures that stimulate competitiveness, investment and consumption, not measures that withdraw additional resources from the economy,' Jianu said.For SME Romania, the statistical data indicate an economy under pressure from declining consumption and contraction in sectors that account for a significant share of the activity of small and medium-sized enterprises. At the same time, investment trends and developments in construction are the main positive factors and demonstrate the need to maintain an economic framework that encourages private investment.In H1 2026, household final consumption expenditure fell by 2.5%, making a negative contribution of 1.5 percentage points to GDP growth. The decline in consumption is particularly relevant for SMEs, given the dependence of a very large number of businesses in the trade and services sectors on domestic demand.In this context, IMM Romania considers it necessary to maintain a predictable tax framework and avoid introducing new tax burdens that would affect companies' investment capacity, accelerate investments financed through the National Recovery and Resilience Plan (PNRR) and European funds, support productive investment by SMEs, and reduce the administrative burden on businesses.Romania's GDP remained unchanged compared with Q1 2026, while compared with Q2 2025, the economy contracted by 0.4% on the unadjusted series and by 2.0% on the seasonally adjusted series. In the first half of the year, GDP declined by 0.7% on the unadjusted series and by 1.6% on the seasonally adjusted series compared with the same period in 2025, according to provisional (1) data published on Monday by the National Institute of Statistics (INS).