The rate of relative poverty in 2020 was 23.4%, in absolute values, the number of poor corresponding to this rate being 4.524 million persons, according to the centralized data from the National Institute of Statistics (INS)."Under one in four people in Romania lived in a household whose income was smaller than the established threshold of 60% of the median available income per adult-equivalent", the INS specifies.During the period of 2017-2020, poverty rate, estimated in relation to the established threshold, based on the level and distribution of income for the year for which the evaluation is being made, there was an oscillating evolution, the maximum being reached in 2019 (23.8%), and the minimum in 2020 (23.4%).The highest poverty incidence was registered during the years of 2017-2020 among children between up to 18 years old and youths, with ages between 18-24, roughly 3 out of 10 were under the poverty threshold, larger than the corresponding levels of adults.The poverty analysis, based on genders, in 2020, highlights a tendency to increase difference between men and women, from 1.3 to 2.5 percentage points.Last year, the highest poverty rates were registered in the regions of North-East (35.6%), South-West Oltenia (32.7%) and South-East (32.6%), and the smallest was recorded in Bucharest-Ilfov (2.4%).The National Institute of Statistics also mentions that an important factor in the emergence and intensifying the state of poverty is determined by the existence and number of children in the household they are part of. Poverty is more frequent among people who are living in households with dependant children (it reached 25.4% in 2020), than in the case of those who are living in households without children (20.8% in the last year).In 2020, among households with dependant children, the most strongly affected by poverty were large households, formed of 2 adults with 3 or more dependant children (more than half), single parent families, parent with at least one dependent child (almost three out of ten), of those with 3 or more adults or more adults with dependent children (a little over a quarter), but also persons from households formed of 2 adults and 2 dependent children (almost a quarter). In comparison with these, households formed of 2 adults and 1 dependant child were less affected by poverty (11%).The relative rate of poverty represents the ratio of poor persons (who have an available income per adult-equivalent smaller than the established threshold of 60% of the median of available income) in the total population.
Simtel (BVB: SMTL), an engineering and technology group listed on the Main Market of the Bucharest Stock Exchange, announced on Thursday, June 19, that the Romanian Financial Supervisory Authority has approved the base prospectus for a corporate bond program of up to EUR 30 million. The program allows Simtel to issue bonds in multiple tranches […]
Romania's efforts to stabilize its fiscal position and finalize a new ruling coalition have been delayed after president Nicușor Dan rejected a proposed VAT rate increase central to a budgetary corrective package agreed by the four pro-Western parties,
A sword that may date back to the Bronze Age, roughly 3,500 years ago, was found following searches carried out in a case of aggravated theft, in the commune of Corbasca, Bacău County. The searches targeted the home of a 61-year-old man suspected of illegally possessing a cultural asset likely to be part of the […]
The construction works volume in Romania decreased by 0.5% y/y in gross terms and by 2.8% in workday and seasonal adjusted terms in April, after it boasted a robust 10.6% y/y advance in Q1 (largely on low base effects), according to data published by the statistics office. By type of construction, engineering works—representing approximately 45% […]
Romania's economic sentiment rebounded sharply in May following the presidential election victory of pro-Western candidate Nicușor Dan, according to data published by the CFA Romania Society on June 19. The recovery comes after a significant decline in April amid fears of a potential win by isolationist candidate George Simion. After the recovery in May, the […]
Salt Bank has appointed Vikram Tikoo as its new Chief Technology Officer, marking a significant step forward in the company's pursuit of its digital banking vision. The appointment will take effect once approved by the National Bank of Romania. Vikram has extensive international experience delivering technology solutions on a global scale. He will help enhance […]
