Romania's economy will grow by 3.5% this year and by 4.5% on average in the coming two years, while the twin deficits would shrink considerably over the coming three years, according to the latest macroeconomic projection from the country's largest financial group Banca Transilvania (BVB: TLV). The bank thus revised downward its forecast for this year's economic growth from 5.1% envisaged under the latest scenario published on January 17. Therefore, Banca Transilvania remains on the optimistic side, as long as other banks (such as BCR ErsteBanca Transilvania anticipates an exchange rate of 5 lei / euro in 2022, and the average inflation will be 6.9% Group Bank) expect growth rates rather close to 2% this year. Romania's largest financial group grounds its expectations on "an evolution supported by the continuation of the investment cycle, with an impact for the other components of the GDP," according to Banca Transilvania's research note, quoted by Ziarul Financiar. "We have updated the forecasts for the dynamics of the Romanian economy in the short and medium-term by incorporating the latest global, European and domestic macro-financial developments, including the INS provisional estimates on performance in Q4 last year and the pandemic year 2021. According to the new forecasts, Romania's economy could grow with annual dynamics of 3.5% in 2022, 4.4% in 2023 and 4.7% in 2024." The scenario also includes a significant reduction of the current account (CA) gap from 7.1% of GDP in 2021 to 5.5% of GDP this year and under 5% of GDP in 2023 to no more than 3.3% of GDP in 2024. The gap rose to 7.4% of GDP in the 12 months to January 2022. BTRL remains optimistic in regard to the fiscal consolidation as well, envisaging a public deficit of 5.0% of GDP this year, 3% of GDP in 2023 and 2.5% of GDP (under ESA) of 2.5% of GDP in 2024.
Loud screens and noise stress young children and affect their development Sound pollution in Romanian homes affects children's learning, play, and sleep, who are more vulnerable to noise than adults Studies show that children exposed to TV for 2 hours daily are 6 times more likely to experience language development delays Renowned doctor: Experiences actually […]
Estonian cinema will take center stage at the 24th edition of the Transilvania International Film Festival (TIFF) in the Focus Estonia program, presenting a curated selection featuring both recent releases and rediscovered classics, screened in restored versions. Among the films to be screened is Moonika Siimets' The Black Hole (2024), a dark sci-fi comedy inspired […]
The ITH Group, which includes the portals Vola.ro, Fru.pl, and GoVola.com and operates in Romania, Poland, and Bulgaria, announced the direct integration of LOT Polish Airlines flights into its own platforms. The collaboration strengthens the group’s position as a regional leader in flight ticket distribution, according to its press release. This will be achieved through […]
In a ruling handed down on Tuesday, May 13, the Bucharest Court of Appeal rejected a request by US authorities for the extradition of a 17-year-old Romanian student. The youth is accused of sending hundreds of bomb threats and manipulating underage girls into engaging in acts of extreme violence, sexual exploitation, and self-harm. Aside from […]
Accor, a global leader in hospitality, has announced the expansion of its presence in Romania by signing a franchise agreement with Amazonia Aquapark SRL for Novotel Timișoara. The newly built hotel is scheduled to open by the end of 2027, marking the brand's first property outside Bucharest and becoming a flagship for Novotel in Eastern […]
A survey published on Wednesday, May 14, by the Open Minds Association shows that Romanians strongly support respect and mutual support in the workplace, signaling that the business environment can play a critical role in supporting social unity. According to the first data set from the “Diversity and Inclusion Barometer,” May 2025 edition, 81% of […]
