Romania's economy is expected to grow by just 0.4 percent this year, compared to the 1.3 percent forecast in June, according to the latest World Bank economic analysis for Europe and Central Asia, titled "Jobs and Prosperity," published by the international financial institution on Tuesday.Furthermore, Romania's GDP growth in both 2026 and 2027 is projected to be 0.6 percentage points lower than previously estimated in June, at 1.3 percent and 1.9 percent, respectively.According to the international financial institution, consumer spending in Romania is expected to slow to around 1.1 percent this year, down from an average of 5 percent over the 2000-2024 period, as fiscal consolidation weighs on expenditure and inflation remains high.The World Bank mentions that retail sales volume grew only 3.1 percent between January and July this year, compared to nearly 9 percent in 2024, and new car registrations in Romania dropped 22 percent in the first half of the year.Moreover, the World Bank mentions, Romania, with a fiscal deficit exceeding 9 percent of GDP last year, has introduced a fiscal consolidationpackage combining spending measures, such as public wage and pension freezes, with higher taxes. The fiscal deficit in Romania is expected to decline to below 6 percent of GDP by 2026.
Romanian cosmetics company Caress Society has announced plans to build a modern production facility in Filipeștii de Tîrg, Prahova County, with a total investment of RON 17.6 million (some EUR 3.5 million). The project will be co-financed through the Just Transition Program 2021–2027, with approximately 70% covered by EU funds and the rest from the […]
Romania ranks 36th globally by the size of central bank reserves, around USD 73 billion, according to The World Factbook, but based on 2024 data. The 36th place is the same as the country’s position by the size of its economy in the world, with GDP calculated at purchasing power parity. However, this year the […]
Romania has been officially selected to compete at Bocuse d’Or Europe 2026, marking the first time the country will take part in the world’s most prestigious culinary competition. There will be 20 participating nations at the European edition, which will take place in Marseille, France, in March 2026. The countries that qualify in Marseille will […]
The City Hall of Tășnad, located in Satu Mare County, north-western Romania, has received six bids for the construction of a new water park. The project is valued at RON 138.2 million (approximately EUR 27.2 million), and the building is scheduled to take 3 years. The water park, named Aquapark Transilvania Terme Tășnad, will cover […]
Libris and Save the Children Romania announce the launch of the seventh edition of the CarteTeca program, through which 50 school libraries across the country will be equipped with new books, supported by a total investment of RON 250,000. Registrations for this year’s edition open today, on the platform libris.ro/carteteca. To date, the project has […]
Half of Romanians fear that they will not be able to maintain a comfortable standard of living after retirement, according to the Retail Banking Radar report, produced by the consulting company Kearney. Romania is thus above the European average (47%). According to the report, as quoted by Bursa.ro,...
