CFA Romania Macroeconomic Confidence Index dropped significantly in August, by 7.5 points, to 47.9 points.According to a press statement released by CFA Romania on Thursday, the decline was the result of a decrease in both components of the index, but a decrease in the anticipation component by 8.8 points to 38.3 points is noted."Amidst anticipated tax increases, the confidence indicator fell sharply in August. Also, the anticipation of indirect tax increases had the effect of a slight increase in inflationary expectations. Given the high uncertainty, economic growth expectations for 2023 have reduced substantially as well," said CFA Romania Deputy Chairman Adrian Codirlasu.The anticipated inflation rate for the 12-month horizon increased slightly to at an average 7.58%.Regarding the euro/leu exchange rate, 81% of the respondents are anticipating a depreciation of the leu in the next 12 months. Thus, the average value of the anticipations for the 6-month horizon is 5.0119 lei to the euro, while for the 12-month horizon the average value of the anticipated exchange rate is 5.0753 lei to the euro.Regarding the developments in residential property prices in cities, 50% of the participants anticipate a decrease in them, while 44% of the participants anticipate stability in the next 12 months. Also, 68% of the participants consider that the current prices are overvalued and 31% that they are correct.As far as the government deficit goes, the average value of the expectations for this year is 5.5%.For 2023, the anticipated value of real GDP growth decreased from the previous year to 2.1%. Public debt calculated as a percentage of GDP is expected to increase to 55% in the next 12 months.
Program empowers women in Romania to step into management or advisory board roles Offering actionable advice for women in businesses seeking strong governance Supporting EU gender diversity targets with inclusive leadership programs The European Bank for Reconstruction and Development (EBRD) celebrates Women’s Entrepreneurship Day on 19 November 2024 by highlighting the EBRD Women on Boards […]
Planeta Crăciun/Planet Christmas, the holiday market organized by Untold Universe in Cluj-Napoca, opens this Friday, November 22. The event, hosted by the city’s Unirii Square, kicks off with the lighting of the festive decorations, followed by a live concert featuring Carla’s Dreams, Andreea Șilochi, and Kids Sing Academy. Thousands of visitors are expected to gather […]
Human remains and archaeological artifacts dating thousands of years were discovered during construction work at the site of the Regional Oncology Hospital in Iași, in eastern Romania. Researchers from the Institute of Archaeology of the Romanian Academy's Iași branch uncovered several important artifacts during the dig. The team led by Dr. Măriuca Vornicu dated the […]
DropCoal, the experiment developed by the Romanian InSpace Engineering (RISE) with the support of the European Space Agency (ESA), is now operational on the International Space Station (ISS). Astronaut Donald Pettit installed it last week in the ICE Cubes Facility, and the entire process went smoothly, according to RISE. The experiment will run for 6 months […]
For the first time in modern history, Hungary holds more gold reserves than Romania after the National Bank of Hungary purchased 14.5 tons of gold at the end of September this year, according to Tavex Romania. The price of gold gold has increased by 25% this year alone and reached an all-time high of USD […]
While half of Romanian households manage to save money each month, 57% of these savings are kept in cash, according to the 2024 Debt Barometer, a study conducted by IRES in partnership with KRUK Romania. The research looks at financial habits, spending priorities, and debt payments, highlighting a pressing need for economic education and tailored […]
