The World Bank has upheld its forecast for Romania’s economy, projecting a 3.3 percent growth for 2024 and 3.8 percent in 2025, consistent with its January estimates. The WB’s latest Global Economic Prospects report also anticipates a 3.8 percent gross domestic product (GDP) increase for Romania in 2026. The European Bank for Reconstruction and Development (EBRD) has maintained its forecast of a 3.2 percent growth for 2024, unchanged from its September 2023 estimates, with an expected acceleration to 3.4 percent in 2025. The EBRD cautioned that Romania’s main economic vulnerability lies in its fiscal position. The European Commission’s spring economic forecasts, published in May, project that Romania’s real GDP growth will surpass 3 percent over the forecast horizon. The Commission said that this growth is driven by accelerating private consumption supported by higher real disposable incomes. Financial conditions are expected to ease, and public investment is projected to remain robust, although external demand from main European Union trading partners is anticipated to be weak in 2024. The International Monetary Fund (IMF) has revised its growth estimates for Romania, lowering the forecast from 3.8 percent in October to 2.8 percent, according to the April World Economic Outlook report.
Romania’s “Madrigal – Marin Constantin” National Chamber Choir, conducted by Anna Ungureanu, will be in Luxembourg and Belgium, as part of the “Bridges Across Europe/Punți peste Europa” European tour, where it will perform five extraordinary concerts. The performances will take place between November 20 and 25, with the help of the Ministry of Culture, the Romanian Embassy […]
The European Development Bank approved a EUR 140 million loan for Romania’s “Cultural Foundations” project, aimed at preserving historical monuments and constructing cultural buildings in the country. The project targets 14 investment objectives of national and European relevance, administered by public institutions under the Ministry of Culture, including the Romanian Athenaeum, the Romanian National Operas […]
Bucharest, November 14, 2024 – Exim Banca Romaneasca offers clients the possibility to verify the true identity of the beneficiary when initiating a payment in RON through internet or mobile banking. This is enabled by the bank’s adoption of the Beneficiary Name Display Service (SANB), which helps prevent fraud and reduces erroneous transactions caused by […]
Fifty NGOs and civic groups, along with the Bucharest Environmental Platform, have drawn up an open letter calling on Romania’s Ministry of Environment, Waters, and Forests to urgently approve the Management Plan for the Văcărești Natural Park in Bucharest. They say the plan has been pending approval for nearly a year. The non-profits noted that […]
AROBS Transilvania Software (BVB: AROBS), the largest technology company listed on the Bucharest Stock Exchange, reports consolidated turnover of 306.2 million lei as of September 30, 2024, with an EBITDA of 43.4 million lei and a net profit of 16.1 million lei. “If at the end of 2023 we anticipated potential stagnation in the automotive...
KingsRock Advisors, the global independent financial advisory firm, said it is expanding its European Union operations by opening an office in Stockholm and appointing top bankers to develop its EU business. Mihai Ionescu, former CEO of Deutche Bank Romania, will coordinate KingsRock’s Eastern European operations from Bucharest. With a long career in investment banking, Ionescu […]
