Romania’s economy posted a surprising 6.5% growth rate in the first quarter, but economists predict a significant slowdown for the rest of the year, euractiv.com reads. Romania’s GDP grew 6.5% in the first quarter of 2022 compared with the same period of 2021, the statistics institute said in a flash estimate Tuesday (17 May). Against the previous quarter, the GDP growth was 5.2%, coming after a considerably lower advance in the fourth quarter of 2021. The statistics institute revised previous data so that a small contraction of 0.1% in the last quarter of 2021 compared with the previous three-month period became a growth of 1%. The data is still preliminary, and more detailed figures on the first-quarter GDP will be released in June. Romania’s government initially estimated economic growth above 4% for the full year, but its forecast has since been reduced to less than 3%. The European Commission has recently said Romania’s economy would grow by 2.6% in 2022, down from 5.9% in 2021, as high inflation will reduce purchasing power and private consumption, while economic sentiment is affected by the war in Ukraine.
Production and new orders rise after nine straight months of decline Business confidence picks up, while hiring is back on the agenda Cost inflation eases and selling prices rise only fractionally An improvement in the health of the Romanian manufacturing sector was signalled for the first time in the survey's history, according to the latest […]
Raiffeisen Bank Romania continues its growth strategy in personal financial planning, up 50% in the first quarter of the year in the segment of investment plans, voluntary pensions and life insurance with a savings component. At the same time, it continued to support SMEs and accelerated investments to launch new functionalities in the mobile banking […]
Road crews have begun snow removal on Romania’s spectacular mountain road known as Transfăgărășan. Since there is less snow than in other years, the road could be opened much earlier than the usual date of July 1, according to authorities. Transfăgărășan, Romania’s second-highest road after Transalpina, is being cleared of snow so it can be […]
The chamber music event SoNoRo Conac has announced a new segment of its tour, which will see two concerts this month, one hosted by the Viscri house of King Charles III and the other by the Balș House in Iași. The concerts, delivered by musicians Răzvan Popovici (viola), Alexandru Spînu (viola), and Cristiana Mihart (piano), are scheduled […]
Several exhibitions remain open in Bucharest during the Easter weekend, when those who haven’t left the city can enjoy the Open Streets event or visiting the Botanical Garden. In Bucharest: Open Streets Every weekend until October 13 ...
Far-right Romanian senator Diana Șoșoacă has entered the race for mayor of Bucharest after gathering all the necessary signatures for her candidacy. The Electoral Office accepted her candidacy on the very last day she was eligible to submit it. This came after her application was rejected over the weekend because she did not have enough […]
