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.
A street in Bucharest’s District 3 has been closed to traffic after the state-owned gas network operator Transgaz warned that it had been built over natural gas pipelines in violation of safety standards. Brățării Street was allegedly built by the District 3 City Hall in the area without proper measures in place. Vehicular traffic over […]
Paysera is strengthening its position in Romania by targeting a gap long overlooked by traditional banks: affordable, fully digital financial services for small and medium-sized businesses. In an interview with Romania Insider, Daniel Turbatu, Country Manager of Paysera Romania, says the company’s biggest advantage remains its free business account, which can be opened entirely online […]
DN Agrar Group (BVB: DN), one of the leading integrated agrifood companies in Romania and the largest dairy milk producer in Europe, reported record results for the first nine months of 2025. The company achieved a turnover of RON 158 million, a 25% increase year-on-year, while net profit doubled to RON 43 million, backed by […]
Presidential adviser Ludovic Orban is leaving his position after just six weeks in office, following a mutual agreement with president Nicușor Dan to end their collaboration, the Presidential Administration announced on Tuesday, November 18, as reported by Agerpres. Orban, a former prime...
Yellow Fresh Fruits has quickly emerged as one of Romania’s most dynamic fresh fruit importers, reshaping a market where consistency and speed increasingly define competitiveness. In an interview with Romania Insider, Fryderyk Schiller, COO of Yellow Fresh Fruits, outlines how the company expanded from its Polish origins to operating advanced ripening centers in Timișoara, Bucharest, […]
The design phase for the most difficult section of the A8 highway, namely Lot 2B Grinţieş-Pipirig, has begun, according to a statement given by Romanian transport minister Ciprian Şerban on Monday, November 18. The contract for the section, valued at RON 5.97 billion (EUR 1.17 billion), was signed at the end of October. In total, […]
