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.
Exim Banca Românească continues the savings campaign under which it pays attractive interest rates, above the market average, for new deposits in lei and euro, over 7 months: interest rates of up to 7.20% per year for lei and 2.50% per year for euro. The offer is available both for the PLUS deposit in lei, […]
In a telecom market shaped by economic pressure, fierce competition, and rapidly evolving consumer habits, Orange Romania is betting heavily on network leadership as its defining advantage. With the largest 5G spectrum investment in the country’s history - around EUR 265 million - the company is doubling down on speed, coverage, and long-term infrastructure at […]
The Romanian job market was marked by extremes in 2025, according to an analysis by employment platform BestJobs. In some sectors, job-seekers dictated the rules, while in others they fiercely competed for a limited number of positions, giving employers the upper hand. In the IT sector, the limited number of available positions led to a […]
Poiana Brașov, a popular mountain resort in central Romania, will host a new winter event format starting in 2026, as Untold Universe launches Massif Week, scheduled to take place between February 27 and March 8. The initiative is designed to diversify the resort’s winter offering and extend the tourist season through a series of indoor […]
A memorial march will take place in central Bucharest on December 21 to mark the victims of the 1989 Revolution, which led to the fall of communism in Romania. The march will follow the Victory Square – University Square – Revolution...
Cushman & Wakefield Echinox announced the completion of the sale of the Zenith Conference & Spa hotel in Mamaia, one of the top hospitality units on the Romanian seaside, to the owners of Steaua de Mare Hotels & Resorts, based in Eforie Nord. The property was previously controlled by the RC2 investment fund and Antares […]
