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.
JW Marriott Bucharest Grand Hotel marks a milestone that goes far beyond an anniversary this year. It celebrates 25 years of stories — of people, vision, and the unwavering belief that hospitality has the power to shape a city’s spirit. “Marking 25 years is, first and foremost, a statement of trust. Guests have chosen JW […]
Three-quarters of Romanian citizens believe that the national healthcare system offers poor services, and 70% think that it is overstretched, according to the seventh edition of the Ipsos global report on health services, carried out in 30 countries, including Romania. The study analyzes the population’s perceptions of healthcare systems, major issues in the field, and […]
An 11-story building is currently being built next to the graves in Bucharest’s famous Bellu Cemetery, and the project, authorized by the District 4 City Hall in 2023, has sparked controversy in the context of local elections for general mayor. District 4 City Hall, led by Daniel Băluță, currently a candidate for the position of general […]
Romania is preparing to select its first-ever national team for the Bocuse d’Or, marking the country’s official debut in the prestigious culinary competition. The Bocuse d’Or Romania National Selection will take place on November 27 in Brașov, where five teams will compete over six hours for a single place in the 2026 Bocuse d’Or Europe […]
Prosecutors and police in Romania conducted 17 searches on Tuesday, November 25, in a case concerning falsified documents for persons from Russia, Ukraine, the Republic of Moldova, and other states of the former USSR. The searches mainly took place in Suceava county, on the border with Ukraine, but also in Bucharest. Some of the targeted individuals […]
HILS Development has announced a EUR 200 million investment in a new large-scale mixed-use residential project in northern Bucharest, marking the company’s expansion into one of the capital’s most dynamic growth areas. The development, called HILS Nord, will span 10 hectares near Lake Șaulei and feature 2,705 apartments alongside green spaces, retail areas, and other […]
