Economic activity slowed its growth considerably in Q3 - to 0.4%, from 1.5% in Q2 -, contrary to expectations, according to the minutes of the Board of Directors of the National Bank of Romania monetary policy meeting from January 10, 2022."As regards the cyclical position of the economy, the members of the Council showed that the economic activity slowed down considerably in the third quarter - to 0.4%, from 1.5% in the second quarter -, contrary to expectations. It was noted, at the same time, that the annual dynamics of economic activity recorded a visibly more pronounced decline in the third quarter than the anticipated one, to 7.4%, from 13.9% in the second quarter, but still high from a historical perspective, with the majority contribution of the population's household consumption, as well as the unusually large one also brought in this interval, by the stock variation," the BNR document shows.The BNR notes that the contribution of net exports to the annual GDP dynamics remained negative, but decreased significantly compared to the previous quarter.At this juncture, the RON/euro exchange rate remained relatively stable at the highest level reached in the last month of the third quarter of 2021, even in the face of higher increases in key interest rates carried out by central banks in the region.Council members also noted the steady annual growth rate of credit granted the private sector, which continued to rise in double-digit territory in October and November, given the extension of the rise in the particularly high variation of the RON component, including with the contribution of programs but also against the backdrop of the slight revitalization of foreign currency credit. The credit balance in the national currency accelerated its growth to 19% in November, and its share in the overall credit increased to 72%.
Deloitte Romania assisted AQUILA, leader in the integrated distribution and logistics services for the fast-moving consumer goods market in Romania and the Republic of Moldova, in the acquisition of Romtec Europa, the company that produces car care fluids and aerosols. The transaction, valued at 3.2 million euros, was signed in December 2023 and completed recently, following approval from […]
CBRE Romania, the leader in providing commercial real estate services, launches an analysis regarding the business potential and alternative investment and development opportunities in Timiș County. According to the analysis, Timiș stands out as a vital centre of Romanian agriculture, ranking first in agricultural area with 693.034 hectares and second in organically cultivated land area. […]
By the end of 2024 the stock of modern retail spaces will overpass 4.5 mln. sq. m setting a new record for Romania. Circa 186,000 sq. m could be added to country’s modern retail stock if taking into consideration under-construction projects. The popularity of the specialized format is noticed in the forecasted developments, claiming 95% […]
The average office fit-out costs have increased by around 15-20% during the past 12 months, but they still remain among the lowest in the Central and Eastern Europe (CEE), according to data from the Cushman & Wakefield Echinox real estate consultancy company. With an average level of €943 per sq. m of office space, the […]
Romania is present at the 10th edition of the EU-Startups Summit in Malta, the biggest event for tech startups in Europe, through RoTechMission, a delegation organized by DiFine PR, Techcelerator and ROTSA (Romanian Tech Startups Association). More than 2,000 people, including 1,000 entrepreneurs and 300 investors, will attend the event, which takes place from May […]
AeroVacanțe, part of the Aerotravel group, is betting in 2024 on new destinations, more accessible for Romanians, as a result of the growing demand for holidays in new destinations untouched by mass tourism. Thus, the agency introduces for this summer 14 charter flights to Lesbos, the third largest island in Greece, where the costs of […]
