In January - August 2024, the balance-of-payments current account posted a deficit of EUR 17,858 million, compared with EUR 13,830 million in January - August 2023, the National Bank of Romania (BNR) informs in a press release on Monday.The breakdown shows that the deficit on trade in goods widened by EUR 2,634 million, the surplus on services fell by EUR 863 million, the primary income deficit increased by EUR 979 million, while the secondary income surplus grew by EUR 448 million.Non-residents' direct investments in Romania totalled EUR 4,139 million (compared with EUR 4,382 million in January - August 2023), of which equity (including the estimated reinvestment of earnings) and intercompany lending recorded net values of EUR 3,563 million and EUR 576 million, respectively.In January - August 2024, total external debt increased by EUR 14,189 million to EUR 182,524 million, of which: long-term external debt at end-August 2024 ran at EUR 133,389 million (73.1 percent of total external debt), up 9.2 percent against end-2023; short-term external debt at end-August 2024 amounted to EUR 49,135 million (26.9 percent of total external debt), up 6.3 percent from end-2023.Long-term external debt service ratio stood at 13.8 percent in August 2024 against 18 percent in 2023. At end-August 2024, goods and services import cover ran at 5.9 months, as compared to 5.6 months at end-2023.At end-August 2024, the ratio of the National Bank of Romania's foreign exchange reserves to short-term external debt by remaining maturity came in at 101.1 percent, as against 99.7 percent at end-2023, the central bank points out.
Romania’s industrial output volume index contracted by 3.3% y/y in August, after it boosted positive annual growth rates over the previous three months, according to data published by the statistics office INS. The negative annual growth rate came as a surprise, after the outlook for the country’s industry seemed to have improved over the past […]
A fundraising campaign has been launched to support the creation of the Muzeul Fluierelor Lumii/Museum of World Whistles, a unique cultural project in Romania dedicated to preserving and celebrating one of humanity’s oldest musical instruments - the whistle. Titled “Give a leu for the Museum - don’t let the sound of the whistle fade,” the […]
Romania’s anticorruption prosecutors have indicted Cristian Popescu-Piedone, the former head of the National Authority for Consumer Protection (ANPC), for allegedly warning a hotel in Sinaia ahead of an official inspection. According to a statement released Wednesday, October 15, by the National Anticorruption Directorate (DNA), Popescu-Piedone has been charged under judicial supervision...
Three Bucharest synagogues can be visited afterhours this weekend, while many events are ongoing at Bucharest Photofest and the National Theater Festival.
Investment: 125 million euros to establish STIHL’s European Competence Center for the production of battery packs and battery-powered tools Scale: 47,000 square meters facility on a 147,000 square meters site — capacity of up to 1.8 million battery packs and 1.7 million tools by 2028 Employment: Approximately 700 jobs to be created by 2028 Network: Romania […]
A report published on Wednesday, October 15, by the Council of Europe’s Committee for the Prevention of Torture (or CPT) urges Romanian authorities to address serious shortcomings in the treatment and conditions of detention of patients in forensic psychiatric hospitals. The deficiencies in the Romanian system were identified by the Committee representatives during a visit […]
