The estimated Gross Domestic Product (GDP) for 2021, semi-final data, was 1,187.402 billion lei current prices, increasing, in real terms, by 5.8pct compared to 2020, according to the National Institute of Statistics (INS).Compared to the provisional version, in the semi-final version, the estimated nominal GDP for 2021 increased by 0.5pct.The INS mentions that, in 2021, more important changes in the contribution to the GDP growth, between the two estimates, were recorded in: industry, from +1pct to +1.3pct, as a result of the change in the volume of activity by +1, 6 percentage points (from 105pct to 106.6pct); real estate transactions, from +0.2pct to +0.8pct, as a result of the change in the volume of activity by +8.2 percentage points (from 102.5pct to 110.7pct).By categories of uses, in 2021, more important changes in the contribution to the GDP growth, between the two estimates, were recorded in: the actual individual consumption of households from +4.1pct to +5.3pct, as a result of the change in its volume by +1.5 percentage points (from 106pct to 107.5pct); the expenditure for individual final consumption of public administrations from -0.7 to +0.2pct, as a result of the change in its volume by +11.4 percentage points (91.7pct to 103.1pct).
Romania has reached a purchasing power per capita of EUR 11,105, approximately 45% below the European average – a figure that places the country in 31st place in the European top, according to the "NIQ Purchasing Power Europe 2025" study. Compared to 2024, Romania moved up one position in the NIQ ranking. Comparatively, at a […]
Ionuț Costea, former head of EximBank, and Sebastian Vlădescu, former finance minister, were released on November 5 following an extraordinary prescription procedure, according to a statement from Romania's High Court of Cassation and Justice (ICCJ). The two had been sentenced in 2023 to six and seven years in prison, respectively, for taking a EUR 5.5 […]
Prime minister Ilie Bolojan, who also serves as president of the Liberal Party (PNL), stated on November 4 that, at the meeting of the party's National Political Bureau the same day, support was renewed for resolving the issue related to special (magistrates') pensions this month, but also for the reform in public administration, according to
Knauf Insulation Romania, the local subsidiary of a division of the German group Knauf, has officially inaugurated its new glass mineral wool factory in Târnăveni, Mureș County, after an investment of EUR 140 million, for which the company also received EUR 18 million in state aid. "Our factory in Târnăveni, equipped with state-of-the-art technology, has […]
Corden BioChem, an expert in industrial biotechnology, could resume production at the bioethanol factory it took over from Swiss Clariant in southern Romania (or "Lesser Wallachia" as indicated by the company) at Podari, after the Competition Council authorised the takeover of the steam and electricity supplier. The company announced on its website that the Podari […]
Romania’s general government budget deficit can drop below 6.5% of GDP next year, possibly approaching 6% of GDP, to further drop below 5% of GDP if the tax evasion and tax avoidance are addressed, the head of the Fiscal Council, Daniel Daianu, said, speaking in a conference organised by Curs de Guvernare, as reported by […]
