The National Strategy and Prognosis Commission (CNSP) revised downwards to 2.9% the growth estimate of the Romanian economy for this year, from 4.3% as previously forecast.In the spring version of the Medium-Term Forecast, CNSP shows that the overlap of shocks (the geopolitical context, successive increases in energy prices and altered global supply chains) exacerbates risks and uncertainties on the economy, while affecting short-term business expectations. .The estimates published by CNSP are in line with the forecasts of the international financial institutions, which have significantly decreased the growth targets of the Romanian economy this year. Thus, the IMF was recently estimating an advance of 2.2% for 2022, from 4.8% in the autumn, while the World Bank indicated an even more modest increase for Romania's GDP of 1.9%.For the current account deficit, CSNP foresees the maintenance of the indicator at high values in the current year (-6.9% of GDP), against the background of a growing trade deficit, amplified by the price increases. Positive corrections are expected in the medium term.The estimated level of price increase is slightly higher than the previous forecasts, respectively 9.7% compared to 9.5% for the end of the year, and 10.1% compared to 9.9% as an annual average."Recent government support measures for the vulnerable population, as well as measures to increase the minimum wage in agriculture and the food industry, will keep the dynamics of purchasing power at positive values (about + 0.7%), given a high average annual inflation (+ 10.1%)," the cited source states.For 2022, the average gross earnings are estimated to increase by 9.7%, to a level of 6,120 RON, and the number of employees will record an advance of 1.6%. The BIM unemployment rate will continue to fall this year to 5.4%.The draft budget for 2022 was set at an economic growth of 4.6%.
Romanian director Cristian Mungiu will be part of the jury that will judge the films in the main competition of this year’s Venice Film Festival - Venezia 82. The jury, headed by American director Alexander Payne, includes French director and screenwriter Stéphane Brizé, Italian director and screenwriter Maura Delpero, Iranian director and writer Mohammad Rasoulof, Brazilian actress, writer, and […]
Romania continues to face significant prison overcrowding, according to the Council of Europe’s latest data, released on Friday, July 18. The 2024 Annual Penal Statistics on Prison Populations (SPACE I) show that Romania is among six countries in Europe with severe overcrowding, housing 116 inmates for every 100 available places. The report, which...
Chris Hemsworth returns to Disney+ in August with a new season of the National Geographic documentary series Limitless, this time focused not just on longevity, but on discovering how to live better. Titled Limitless: Live Better Now, the three-part season follows Hemsworth through physical, emotional, and mental challenges across six countries, with one standout episode […]
The Black Sea 200 Regatta 2025, Romania’s first non-stop offshore regatta with a 200 nautical mile route, takes place between July 21 and 27. Now in its first edition, the event brings together more than 10 boats from Romania and Bulgaria, according to the organizers. The endurance course will start and finish in the Romanian […]
The National Environmental Guard has fined an illegally operating zoo in Dâmbovița county, southern Romania, a total of RON 120,000 following a joint inspection that uncovered serious violations, including the lack of environmental authorization and inadequate conditions for wild animals kept in captivity. The zoo was reportedly charging RON 50 per person for entry and […]
The National Cybersecurity Directorate (DNSC) and engineering company Enevo Group have signed a strategic cooperation agreement to strengthen cybersecurity in Romania’s energy sector. The partnership aims to test and develop monitoring and alerting technologies for cyberattacks, and to improve national response coordination to incidents affecting critical infrastructure, the companies said. The agreement focuses on sharing […]
