A mission from the International Monetary Fund (IMF), led by Jan Kees Martijn, will pay a visit to Bucharest from November 5 to 8 to analyse latest economic and financial developments and to update macroeconomic forecasts.An IMF mission, led by Jan Kees Martijn, will visit Bucharest from November 5 to 8 for a routine visit. The IMF team will analyse the latest economic and financial developments and will update the macroeconomic outlook, according to the IMF announcement signed by Geoff Gottlieb, IMF Regional Representative for Central, Eastern, and Southeastern Europe.In its latest "World Economic Outlook" report, recently published, the IMF revised down its forecast for Romania's economic growth this year to 1.9%, from the 2.8% projected in April.According to the new figures published by the IMF, after a 2.1% growth last year, Romania's economy will slow down to 1.9% this year, and is expected to accelerate to 3.3% in 2025. In the spring, the IMF had forecast a 2.8% growth for Romania's GDP in 2024, which has also been revised down from the 3.8% growth projected last autumn.At the same time, the international financial institution expects a continued worsening of Romania's current account deficit, to 7.5% of GDP in 2024, up from 7.1% of GDP forecast in April. The IMF predicts a slight reduction in the current account deficit, to 7% of GDP in 2025, compared to a previous forecast of 6.8% estimated in the spring. According to the IMF's forecasts, Romania's current account deficit will remain at a high level, even in 2029, when it is expected to reach 5.9% of GDP.Currently, Romania does not have a financing agreement with the International Monetary Fund, but the IMF evaluates the development of the Romanian economy annually, based on consultations under Article IV.The consultations represent a mandatory surveillance exercise for all member states. The purpose of the consultations under Article IV is to examine the national financial and economic situation and to provide general recommendations regarding monetary, fiscal, and economic policies to ensure stability and positive development of the economy.
Romania is set to host the 2025 World Cat Championship — “FIFe World Winner Show,” the world’s most prestigious feline competition, in Bucharest on October 25–26. Each year, the most beautiful and valuable cats from around the globe participate in this contest to claim the World Champion title. Out of the 1,000 to 1,500 cats […]
Nine Audio-Visual Monographs, an interactive audio-visual exhibition that showcases elements of the project that explores nine villages in Romania, opens on November 7 at the Visual Studies Center in Bucharest. The project aims to offer a fresh look at nine villages and their communities - Șomartin, Titești, Slătioara, Brădetu, Jupânești, Șotrile, Bisoca, Rogojeni, and Jurilovca. […]
For its 13th edition, GoTech World, the largest B2B expo conference with IT and digital solutions in Central and Eastern Europe, promises two days of innovation and inspiration at Romexpo, Pavilion B1. This year, the event will bring global opinion leaders, cutting-edge solutions, and strategic technology partners to the forefront. This edition’s special guest is […]
The amendments to the new Forestry Code bill that aim to legislate green belts nationwide got the green light from the committee for environment and ecological balance in the Chamber of Deputies on November 5, marking an essential step in the bill's legislative process in the Parliament. Two other expert committees must also debate and […]
The Ministry of Economy, Entrepreneurship and Tourism (MEAT) has kicked off a new campaign to boost Romania's visibility as a tourist destination abroad. As part of the latest drive in the UK, 250 buses in London, Manchester, Birmingham, and Liverpool carry the message "Hop on board to Romania" for a month, from November 4 to […]
The Romanian Ministry of Culture announced that it will provide support, through the Project Management Unit, for 47 projects in the cinematography sector through its program "Supporting Cultural Initiatives to Accelerate the Digitization of Film Production and Distribution, Including Cinematic Films." The program, which includes a call for projects, aims to support Romanian film producers […]
