Inflation is an extremely tricky disease that can occur under ‘n’ shapes, on Monday asserted the National Bank of Romania (BNR)’s governor Mugur Isarescu at the “Inflation in past ten years” conference, adding that the inflationary pressure as well as our deficits are largely structural. “If I were to define now, in front of you, whether the inflation is fiscal, monetary, structural, well, as far as we are concerned and we won’t give in to our illusion that we entirely control it, it is an extremely tricky disease that can occur under ‘n’ shapes. And currently, the inflationary pressure and our deficits are structural to a great extent at micro level as well,” Isarescu said. The drop in the crude oil price will be seen in the inflation rate in the next period, the central bank’s governor added. He assessed that within a week it is possible that a 3.5pct inflation be announced. The BNR governor has also referred to the budget drafting for 2019 and said that from his prime minister experience this process is “a fussy arithmetic”. “Our budget construction is a fussy arithmetic. I have known it ever since 2000 when I used to be Prime minister. We had back then 32pct of the GDP [budget revenues, ed. n.] and they used to come to me, systematically, the Finance minister, with demands of budget spending varying between 40pct and 50pct of the GDP. And that was all about negotiation. Where was I supposed to cut so as to have 32pct instead of 40pct in deficit. Is this a macroeconomic balance philosophy? And they used to resort to various kinds of tricks so that each could obtain a large chunk of the spending,” Mugur Isarescu underlined. BNR maintained the inflation prognosis for this year’s end at 3.5pct and raised at 2.9pct, from 2.7pct the prognosis for the next year, on Thursday announced the BNR head, when presenting the Quarterly Report on Inflation.  
The post Central bank’s governor: Inflation, very tricky disease, can occur under ‘n’ shapes appeared first on Nine O' Clock.
Romania, which for years ranked last in the EU for packaging waste recycling, now stands at the forefront of Europe’s circular economy, proving that a country with initially fragile infrastructure can implement, in record time, one of the most effective collection and recycling systems in Europe. This rapid transformation is taking place in a European […]
Tucked inside Radisson Blu Hotel, Bucharest, Ginger Sushi Bar & Lounge marks the turn of the year with an intimate New Year’s Eve dining experience built around a multi-course tasting menu. From 19:00 onwards, guests are welcomed to a carefully paced evening that blends Japanese inspiration with premium ingredients, from scallops and Wagyu to Chilean […]
Romanian non-profit Dăruiește Viață has completed a new renovation project at the “Louis Țurcanu” Emergency Children’s Hospital in Timișoara, upgrading the Pediatric Onco-Hematology Transplant Unit to modern medical standards. The investment, worth approximately EUR 150,000, was funded by Linde Gaz Romania and Atos Global Delivery Center. The organisation has been working with the Timișoara hospital […]
The multimedia exhibition Aici Se Vede Jazz (Here You Can See Jazz), set to open at SAC Berthelot in Bucharest, explores how jazz found its way in the pre-1990 Bucharest and “the contemporary ways to listen, visualize, perform and relate artistically to its world of sounds and ideas.” Bucharest had improvised studios, rehearsals with the […]
Aon Romania, part of the global group Aon plc, draws attention to the urgent need for structured solutions to protect trade receivables in an economic context characterized by high volatility and geopolitical uncertainty. The subject was central to the discussions at TRADE CREDIT TALKS - Receivable Protection in the Age of Volatility, where business leaders […]
Bucharest’s shopping centres posted mixed financial results in 2024, with major discrepancies between the city’s largest malls and mid-sized retail centres, according to financial analysis platform RisCo.ro. The data shows contrasts in profitability and turnover, as well as significant losses among some of the capital’s biggest retail projects. AFI Cotroceni recorded the highest turnover of […]
