The the economic growth of 6.5pct posted by the National Institute of Statistics (INS) for the first half of the year, and that of 13pct posted for the second quarter must be contextualized, head of the Fiscal Council Daniel Daianu told Agerpres, underscoring that we also need to consider the increase in the current account deficit and the need to correct the public budget before drawing the final conclusions."We need to understand that economic growth needs to be robust. We are looking at economic growth, but let's also look at growing external imbalances. Such growth rates are not sustainable. They are not sustainable even in developed economies that have a balanced external balance during such economic comebacks, big rebounds after the forced economic declines of 2020. It is inappropriate to say normalization, but you have unsustainable economic growth against the fundamental factors. Many economies will have lower growth rates than in 2021, in the years to come. And in our case, it is important to point out that we have a structural budget deficit and large external deficits, this combination is against us and needs to be corrected. So we need to consider this increase in the first half and the second quarter against the basic effect (we had lockdown in the first part of last year), against the external deficits and a larger structural budget deficit. This show that we shouldn't brag and we shouldn't forget that we have a major macroeconomic correction ahead of us. This year the budget deficit will be lower, it would be good to have it below 7pct of the GDP, even if the rectification target is 7.13pct. Also, we must not look at the figures for the second quarter alone. We should also consider the external balance, the external imbalances. The figure is 7pct of GDP for the entire year, but it is accompanied by an increase in the current account deficit and it must be correlated to the absolutely necessary correction of the budget deficit. We must contextualize all these figures," Daniel Daianu explained.
The SIGNAL IDUNA companies concluded 2024 with a total gross written premium volume of approximately RON 424 million, marking an aggregated growth of 16% compared to the previous year. These financial results reflect the consolidation of a sustainable development strategy, supported by portfolio expansion, digitalization, the launch of new solutions for both individual and corporate […]
Kantar Romania launched, during an event dedicated to their clients, "The Trust Factor – Building Brands That Endure Uncertainty", the top 20 brands that manage to inspire the greatest confidence among the Romanian consumers, based on the analysis of 162 brands from 12 sectors*. In a period marked by uncertainty and skepticism, trust becomes the […]
Balancing career success with personal growth is a challenge many professionals face today. As the pressure to achieve and perform increases, many begin to crave more than just success: they want clarity, alignment, and a deeper sense of purpose. For Lin Holmquist, business coach and one of Europe’s most acclaimed experts in Tantra, Yoga, and […]
CFR Călători, the state-owned railway company for passengers, announced that the first train entirely made up of rolling stock modernized with funds from the EU-backed Recovery and Resilience Fund (PNRR) was introduced on the Bucharest North – Constanța route. The train, which is already running, consists of a locomotive delivered by the Softronic factory in […]
The first edition of Urban Habits (nUH), a festival aiming to be “a space for ideas, debates, co-creation, and experimentation,” takes place between April 26 and April 27 at Lokal and on Erou Ion Călin Street, which will be temporarily transformed into a pedestrian space. The program will address themes ranging from innovation, design, and […]
Mall Moldova, the largest shopping center in the Moldova region, officially opened on April 17 in Iași, covering 110,000 sqm. Developed by Prime Kapital, in partnership with MAS P.L.C., Mall Moldova is part of a large-scale investment plan carried out by the two investors in Iași, worth approximately half a billion euros, which also includes […]
