The National Prognosis Commission (CNP) has revised up to 3.6 percent the projection on the Gross Domestic Product (GDP)'s growth for this year and maintained to 4.1 percent its estimate on the economic growth in 2016, according to the fall's variant of average term prognosis 2015 - 2019. In the preliminary fall variant, published in September, the institution was forecasting an increase of the GDP by 3.4 percent for 2015 and of 4.1 percent for 2016. This spring, the CNP prognoses were indicating an economic growth of 3.3 percent for 2015 and 3.4 percent for 2016. The nominal GDP is estimated at 704.5 billion lei in 2015 and at 746.6 billion lei in 2016. The most significant contribution to the GDP's real increment this year will be given by the services (2.2 percent), followed by the industry (0.7 percent). The domestic demand will be up by 4.6 percent, in 2015, as against 2.6 percent in 2014, and for 2016 a growth by 4.7 percent is estimated. The gross fixed capital formation (investments) is expected to go up by 7.6 percent this year and by up 6.2 percent in 2016, similar to September estimates. The economic growth will stay put in the next years, for 2017 being estimated a GDP advance of 4.2 percent, in 2018 - 4.5 percent, and in 2019 - 4.7 percent. The state budget for the next year is based on a 4.1pct economic growth, according to data by the Public Finances Ministry as presented on November 18. The DGP is estimated at 746.6 billion lei. In 2014, the Romanian economy has increased by 2.8 percent.
More than 680 houses in Suceava country and 170 houses in Neamţ county were impacted in the flash floods that hit northeastern Romania at the end of last week. Forty-one houses were completely destroyed, Raed Arafat, the head of the Department for Emergency Situations (DSU), announced on Friday, August 1. Three people were killed in […]
Romanian justice minister Radu Marinescu said on Thursday, July 31, that harsher penalties are being considered for violence against women and domestic violence, including the criminalization of femicide. The minister said that Romania currently has legislation that is fairly adequate, in line with European standards, for combating violence, including domestic violence. He also said that […]
Via Transilvanica, the long-distance trail that crosses the country, will apply to be the first accredited long-distance route in Romania after the government issued the methodological norms regulating the hiking trails of national interest. Tășuleasa Social, the non-profit that developed the trail, called the recently issued norms "a huge step that transforms a bold idea into...
Former prime minister and Social Democratic leader Marcel Ciolacu stated that he does not rule out a candidacy for the presidency of the Buzău County Council, after rumors to that end. PSD Buzău president Romeo Lungu had previously told journalists that discussions are underway for the former prime minister to run for the Buzău County […]
The Balneo-Physiotherapy Clinic in the Călimănești resort town, southern Romania, will undergo rehabilitation with a EUR 10 million financing from the European Union, according to representatives of the Vâlcea County Council. The project implementation period will be 24 months from the completion of the tender for the execution of the works, which include, in addition […]
Bringo, the first personal shopper-based rapid grocery delivery service in Romania, handling over 4,000 daily orders in more than 35 cities, launches a loyalty program that turns shopping into a continuous reward experience. "Beyond functional benefits like discounts, free delivery, or double refunds for SGR packaging collected right at your doorstep, Bringo YOU offers a […]
