Friday, July 7, 2017

Romania's economy grows by 5.7% in first quarter

Times of India:

Romania's economy expanded 5.7 percent on the year in the first quarter, the National Statistics Board said on Friday, confirming preliminary estimates, and domestic consumption rose 6.7 percent. On a quarterly basis, GDP rose 1.7 percent in seasonally adjusted terms in January-March, data showed. The economy grew 4.8 percent in 2016.

Unfortunately the shares of the Fondul Propietatea fund have not really expanded with the economy. The discount to NAV is now 29%. The fund managers continue to buy shares back on a weekly basis. I will continue to hold the shares. The dividend is around 5% and the share count continues to shrink.

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