The inflation that is currently affecting the global economy will be temporary because the factors causing it are just short-lived, International Monetary Fund senior advisor Liviu Voinea declared at the Bucharest Forum 2021 organized today by the Aspen Romania Institute."Overall, the global economy is in a better place than it was a year ago. But a major challenge has arisen - inflation. Inflation is rising rapidly around the globe and could slow the economic rebound and determine tighter monetary and tax conditions that could impact the most vulnerable social groups. If we look at the factors that drive this rise in inflation, they are of a transitory nature: the decline in inflation in the previous year, the recovery of demand - which wasn't caused by higher incomes but by higher income availability - the congestion of supply chains, the delay in deliveries - all these are not permanent - but also by the major increase in energy prices, especially for gas. Another argument for the transitional nature of inflation is the very success of fiscal support packages, which have helped limit economic losses much faster than in previous crises; thanks to these support packages, the surplus savings accumulated during the crisis now turn into consumption, but this phenomenon won't have long-term effects, as the amount of savings is limited. Therefore, the inflation growth rates are expected to only be temporary," Liviu Voinea explained.On the other hand, the IMF representative pointed out that the uncertainties regarding the fiscal projections, Romania's included, remain unusually high.The IMF senior advisor said that fiscal support measures intended to limit the economic effects of the pandemic cannot be granted indefinitely, so that such support measures should be better targeted to those who really need them.According to the cited source, a return to the pre-pandemic debt level would require more serious fiscal balances than those before the pandemic.
One United Properties, the leading green investor and developer of residential, mixed-use, and office real estate in Romania, announces the signing of a new lease agreement for the relocation of Cencora Romania’s headquarters within One Cotroceni Park, the most modern business ecosystem in Bucharest. Cencora is a global leader in pharmaceutical solutions, dedicated to improving […]
The investment includes the modernization of the production unit in Crevedia and the launch of PIUA, Maidan’s first premium spreadable product range, responding to the growing demand in the ready-to-eat market. Maidan, a company active in corporate and private event catering, industrial catering and the development of its own gastronomic products, announces a total investment […]
One United Properties (BVB: ONE), the leading green investor and developer of residential, mixed-use, and office real estate in Romania, announces the signing of a new lease agreement for the relocation of Cencora Romania’s headquarters within One Cotroceni Park, the most modern business ecosystem in Bucharest. Cencora is a global leader in pharmaceutical solutions, dedicated […]
Unanimously adopted, the Nordis Law marks a decisive moment for Romania’s residential market. It introduces a set of rules designed to protect buyers, hold developers accountable, and reduce speculative risks, with a strong focus on transparency and stability. Under the new legislation, the reservation fee cannot exceed 5% of the property value, reservation contracts cannot […]
Via Dobrogeana, a planned trail covering the southeastern part of the country, aims to offer travelers the opportunity to explore the region's cultural and ethnic diversity. The trail will be about 850 km long, stretching from the 17th-century Sfânta Precista Monastery in Galați to Ialomița County. Via Dobrogeana will be a mixed route. In addition […]
Police and prosecutors carried out 25 searches in Romania and Italy on Tuesday, November 18, aiming to dismantle a group made up of four families, who allegedly sexually exploited, mainly in Italy, more than 30 victims. After the searches, 19 people were detained, and two others were placed under judicial control for forming an organized […]
