Romania has annually closed an average of two percentage points of the gap with the European average. In 2000, Romania’s GDP per capita (at purchasing power parity) stood at around 25% of the EU average, but currently, this figure exceeds 75%, said Csaba Balint, a member of the Board of Director of the National Bank of Romania (BNR). An important role was played by the dynamic increase in labor productivity, Balint believes, and Romania had the fastest growth in the CEE region. This positive trend was largely supported by economic restructuring: in 2000, almost 45% of the employed population was involved in agriculture, followed by industry (22%) and market services (21%). currently, the weight has shifted significantly towards market services with a much higher added value. Within the services sector, certain categories such as IT&C have shown exceptionally fast growth. If we analyze the share of the added value of the IT&C segment in the national economies, Romania is in the top 5 of the EU countries. In addition to the country’s capital, there are numerous regional economic centers – such as Bucharest, Cluj-Napoca, Timisoara, Brasov, Iasi, Constanta or Craiova, which play an important role in development. The seven most important economic poles in Romania contribute to more than 50% of the national GDP. All counties in Romania have made significant progress in the last almost two and a half decades in terms of GDP per capita, but regional disparities have increased, said the BNR expert. In the current global context, characterized by uncertainty and major structural changes, Romania must be prepared to respond to some challenges: the aging of the population, the transition to a green economy, digitization, geopolitical tensions and global fragmentation, as well as the impact of artificial intelligence, with all its aspects positives and associated risks, the economist concluded.
Nhood, an integrated real estate services and solutions company present in 10 European countries, including Romania, has appointed Mihaela Petruescu as the new Country Director for Property Services Romania & Poland as of October. With nearly 20 years of experience in the real estate sector, Mihaela brings robust expertise in property management and leasing, operational […]
“Catane,” a dark comedy inspired by real events and directed by Ioana Mischie, is set to have its first special screenings in Romania after a successful festival circuit. The film had its world premiere at the IFFI Goa festival in India and was nominated this year at the Hollywood Music in Media Awards for Best […]
Romania is among the European countries where water reserves are decreasing at an alarming rate, according to an analysis carried out by researchers from University College London in collaboration with The Guardian and Watershed Investigations. Scientists analyzed data from the period 2002–2024 provided by satellites that monitor changes in the Earth's...
George Smyth, 18, went missing on a hike near Romania’s famous Bran Castle more than a week ago. On November 23, the British citizen started to suffer from hypothermia and exhaustion and called the emergency services. Trying to locate him, mountain rescue services conducted searches over the next few days but were only able to […]
Over 107,000 people in Prahova and Dâmbovița counties, in southern Romania, have been without drinking water since Friday, November 28, due to problems at the Paltinu Dam. According to local authorities, the problems are set to persist until next week. The dam registered a drop in water levels, leading to problems in the water distribution system. […]
A special ‘Silent Day’ event will be held at the Bucharest Christmas Market in Constituției Square on Wednesday, December 3, aimed at creating a quieter and more accessible environment for children with sensory disabilities. The initiative is designed to make the festive market manageable for children who may struggle with loud noise, bright lights, and […]
