Household consumption is expected to become this year and remain in 2025 the main determinant factor of GDP growth, given the significant acceleration of the growth of real disposable income, but also in the context of real interest rates on household loans and deposits, according to the Minutes of the monetary policy meeting of the Board of Directors of the National Bank of Romania of August 20, 2024."It was noted that, similar to previous forecasts, household consumption is expected to return this year and remain in 2025 the main determinant of GDP growth, given the significant acceleration of real disposable income growth - under the influence of wage increases and social transfers superimposed on the relatively lower downward trajectory of the inflation rate - but also in the context of real interest rates on loans and population's deposits," reads the BNR minute.A significant contribution to GDP growth is likely to continue to come from gross fixed capital formation, whose growth is expected to slow down considerably in 2024-2025, after the strong acceleration in 2023, but to remain alert from a historical perspective, amid the attraction and use of a significant volume of European funds, but decreasing compared to 2023 and in the context of significant uncertainties associated with budget programmes and executions, as well as geopolitical tensions and economic developments in Europe, the members of the Board noted.At the same time, following the evaluation of the relevant indicators, it was concluded that, in the second quarter, private consumption remained the main determinant of economic growth, and a large contribution is possible from the gross fixed capital formation, mainly on account of the construction activity.
The Romanian frigate ‘Regina Maria’ has departed from the Black Sea port of Constanța to take command of NATO’s Operation Sea Guardian for the second time in five years, the Naval Forces announced. The NATO task group will also include a Croatian naval vessel, an Italian submarine, and a Portuguese Air Force aircraft. The Romanian […]
European Commission president Ursula von der Leyen will arrive in Romania early next week as part of a multi-country tour of the EU’s eastern frontline states, with a focus on strengthening solidarity and defence in the face of growing security challenges from Russia and Belarus, the EC announced. On Monday, September 1, von der Leyen […]
The Classic Unlimited piano tour will return to Romania this fall, with pianist Bogdan Vaida performing in 12 towns across seven counties as part of a project designed to bring classical music to communities where such events are rare. Running through September and October, the tour will stage free concerts in unconventional venues including castles, […]
Prosecutors investigating the case of the real estate developer Nordis, which allegedly defrauded clients of nearly EUR 200 million, have decided to reinstate seizures on all apartments and lands owned by the two companies in the Nordis Group, according to G4Media sources. The case broke out in October...
Cristian Radu, the mayor of Mangalia - a popular seaside resort in Romania, has been placed in pre-trial detention for 30 days after the Constanța Court of Appeal upheld prosecutors’ request to arrest him on bribery charges. The ruling, delivered on Wednesday, August 27, is final,
Private markets infrastructure provider SeedBlink announced on Thursday, August 28, that it has promoted Ronald Rapberger to head of sales to drive its next phase of growth. The company is in active expansion, and has grown from a fundraising platform into a technology-driven infrastructure for startup investing in five years, according to the company's press […]
