Experts of Romania's chartered financial analysts association CFA Romania put their budget deficit estimates at 7 percent of GDP in 2021 and 5.7 percent in 2022, projecting also an inflation rate of 6.06 percent over a 12-month horizon and a public debt expansion to 52.5 percent of GDP, the organization said in a release on Wednesday.Additional questions regarding the impact of the coronavirus crisis on the national economy (the duration of the pandemic's economic impact, the GDP and budget deficit evolution) have been included in the survey conducted by CFA Romania.Thus, the average projection for the 2021 state budget deficit is 7 percent, and 5.7 percent for 2022. The average projection for the nominal GDP growth in 2021 is +6.6 percent, and 4.3 percent for 2022. Also, the public debt (as percentage of GDP) is seen at about 52.5 percent over a 12-month horizon.The majority of survey participants, 36 percent, predict the coronavirus economic impact to last until at least the second quarter of 2023."Amid the substantial increase of the inflation rate, inflation expectations for a 12-month horizon continued to rise, reaching a new all-time high (of the CFA Romania Association survey). Moreover, the high dispersion of the responses is indicative of the high uncertainty regarding the evolution of inflation next year. In line with inflationary expectations and the central bank's monetary policy measures, expectations of an increase in interest rates on both the money market and for government securities have also increased," said vice president of the CFA Romania Association Adrian Codirlasu.CFA Romania's Macroeconomic Confidence Indicator increased slightly to 57.6 points (compared to the same month of the previous year the increase was of 7.2 points) due to the divergent evolution of the two components of the indicator. The anticipated inflation rate for the 12-month horizon continued to go up, averaging at 6.06 percent.Regarding the euro to RON exchange rate, all survey participants (100 percent) predict a depreciation of the RON in the next 12 months (from the current value). Thus, the average 6-month projection for the exchange rate is 5.0284, while the average exchange rate expected over a 12-month horizon is 5.0859 RON for one euro. The lowest estimated euro to RON exchange rate is 4.9700.CFA Romania is the association of Romanian investment professionals who hold the certification of Chartered Financial Analyst (CFAŽ), a credential granted by the US-based CFA Institute. CFA Romania is one of the over 160 CFA Institute members, and has the mission to promote the interests of investment experts and maintain high standards of integrity and professional excellence. The association currently has over 250 members.
Non-profit BookLand started building last year a pre-university, dual-system campus in the village of Vultureşti, in southern Romania’s Argeş county. The campus will train pupils in various specializations, allowing them to work in industries ranging from hotels & restaurants to retail and food. More on how the project got off the ground and what it […]
Armenian Street Pop-Up: All That Jazz, an event focusing on the city’s Armenian neighborhood, community and living heritage, takes place on the weekend of May 24 – May 25. The first edition, meant as an overture to the Armenian Street Festival, brings to the fore the cultural heritage of the Armenian community in Romania and […]
One year after its launch, Attractive Romania/România Atractivă - part of Romania's first national program dedicated to cultural tourism - announced major milestones, including more than 280,000 active users and over 60,000 downloads of its mobile app. The platform has become the second most popular Romanian tourism app, after Munții Noștri. Initiated by the Ministry […]
The oldest house on display in a museum in Romania is a wooden dwelling from Hunedoara County, 225 years old, located in Sibiu’s Astra Museum, according to an announcement from the Sibiu County Council. Created in 1800, the oak wood house from Țara Zarandului is coated in clay and covered with straw. It was brought […]
The entrepreneur George Iacobescu, who had a major role in building London’s financial district, was decorated by interim president Ilie Bolojan with the National Order "Star of Romania" in the rank of Grand Officer. The Romanian Presidency said that the medal is for the exceptional services rendered to the Romanian state through the constant promotion […]
Documentary Mondays and Fiction Tuesdays, the established programs of the Czech Center in Bucharest, are set for new editions between May 19 and June 10, every Monday and Tuesday. The Bucharest public can attend eight screenings of contemporary and classic European cinema, with free admission. Documentary Mondays, the Czech Center’s longest-running film program, will present […]
