The unemployment rate of the International Labour Organisation (ILO) stagnated in July-September against the previous quarter, to 7.2 pc, but is higher than in Q3 of the previous year, when the indicator calculated following ILO criteria stood at 6.9 pc, the National Statistics Institute (INS) announced yesterday. On gender basis, the gap between the two [...]
Former Liberal (PNL) president Crin Antonescu declared his presidential candidacy "unilaterally suspended." Antonescu had accepted to run for president after the proposal of the ruling coalition formed by the Liberals (PNL), Social Democrats (PSD), the Democratic Alliance of Hungarians in Romania (UDMR), and the minorities' group in Parliament. Antonescu confirmed his commitment to running in […]
The decision of the Romanian Constitutional Court (CCR) to annul the presidential elections is considered by most respondents (28%) as the most important event of the year 2024 in Romania, according to an IRES telephone survey. CCR's decision to cancel the first round of the presidential elections is considered good by just over a third […]
Moldova will import from Romania some 62% of the electricity it needs in January for the territory controlled by the constitutional authorities (not including separatist region Transnistria), and the imports’ instant share will drop towards 50% only during night hours when the consumption decreases, according to the projections drafted...
The 7%-of-GDP public deficit target is "extremely restrictive," but the Finance Ministry will do its best to avoid VAT and income tax hikes this year, the Minister of Finance Tanczos Barna said on December 30, speaking of the 2025 budget planning. This year's budget could be approved by the end of January if things go […]
Romania's public deficit surged 71% y/y to RON 126 billion (EUR 25.3 billion) in January-November, particularly due to expenditure-side elements, reaching 7.1% of the year's estimated GDP in the first eleven months of the year from 4.6% of GDP in the same period of 2023. The nominal GDP is estimated to have advanced by 10%...
Garanti BBVA Romania has established itself as a robust player in the local banking market by financing green economy projects and prioritizing digital innovation. Business Review sat down with Mustafa Tiftikçioglu, the CEO, to discuss the lender’s strategic vision. Garanti BBVA recorded solid results in terms of both loans and deposits in the first […]
