More than half of the inflation registered in December 2021 is attributed to the direct effects of energy prices, says Cristian Popa, Board Member of BNR (National Bank of Romania), in an article which will be published on the BNR's Opinion blog."Romania cannot afford to remain out of global tendencies without being penalized by financial markets with pressure on the exchange rate and in general by higher inflation pressures. It must be said that there are prices that cannot be controlled by BNR: such as gas prices, electricity or those administered (ticket fare or cigarettes' prices, for example), and the central bank cannot lead a war, because its instruments have very little influence, towards none, upon these prices. But it also cannot abstract from them," Cristian Popa showed, in an article "Fight against continuous inflation".He said that the bill for inflation will be paid by increasing prices for goods and services, it is mainly paid by those with fixed income which does not quickly adjust upwards, but also by those who have savings or monetary holdings, "under the mattress" or in fixed income instruments.Cristian Popa says that inflation can become destructive, if allowed to get out of control or to reach high levels, but says that the good news is that the central banks have a treatment for inflation, which is increasing interest rate, meaning making money more expensive.In his opinion, the wages-prices spiral represents a clear example of not being in touch: if the public no longer believes that the central bank will handle inflation, they will ask for salary adjustments which will include their expectations, higher, for inflation, and added that relaxed or too relaxed fiscal policies can have an inflationary character.
A coalition of eleven Romanian business associations, including Concordia, the Foreign Investors Council, Romanian Business Leaders, and various bilateral chambers of commerce, has issued a joint appeal calling on political parties to maintain the country's current tax framework and prioritise structural reform over immediate tax increases. The business groups argue that the focus should be […]
President Nicușor Dan announced Wednesday evening, June 11, that Romania's Supreme Council of National Defense (CSAT) will discuss how to tackle the rapid spread of disinformation online, emphasizing the need for swift responses to false narratives that circulate widely in just a matter of hours,
The largest film festival in the country kicks off this weekend in Cluj, while Bucharest has numerous music festivals going on.
The Confident Group, a corporate and brand communications cluster present in Bucharest and Barcelona, launches Confident Impact, its new sustainability-focused business line. The move marks a strategic expansion into comprehensive Sustainability services, including ESG and CSR specific solutions, tailored for both corporations and SMEs. Confident Impact is a growing one stop shop delivering a comprehensive,...
Bucharest’s five-star Radisson Blu Hotel launched “Art in Motion,” a pop-up exhibition developed in partnership with Art Safari, the largest organizer of art exhibitions in Eastern Europe. The exhibition can be viewed from early June to July 31 in public areas of the hotel. According to the hotel press release, the initiative underscores Bucharest’s role […]
Leading retail park owner M Core has invested more than EUR 150 million in the Romanian market over the past six months, significantly expanding its presence through a series of acquisitions and new developments. The company acquired Focșani Shopping Centre from KBC, Suceava Shopping City, and seven fully leased retail parks previously owned by MAS. […]
