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.
Druid AI today announced it has secured USD 31 million in Series C financing to advance the global expansion of its enterprise-ready agentic AI platform under the leadership of its new CEO, Joseph Kim. The investment was led by Cipio Partners, with participation from TQ Ventures, Karma Ventures, Smedvig, and Hoxton Ventures. Kim has more […]
Drivers in Bucharest lose, on average, 12 working days annually due to congestion, according to Traffic Index 2025, an analysis carried out by the Institute for Visionary Cities. The index compares how much circulation slows down on working days compared to a free-flow regime, for the 41 county seat municipalities and Bucharest. According to the analysis, […]
Romania’s Senate and Chamber of Deputies held a moment of silence on Monday, September 15, for American conservative activist Charlie Kirk, who was shot dead at a university event on September 10. The marking of Kirk’s death came at the initiative of the far-right party Alliance for the Union of Romanians, or AUR. Both Kirk […]
A mountain shelter is scheduled to open this fall in the Făgăraș Mountains' Curmătura Bratilei area following a EUR 60,000 investment. The shelter, located at an altitude of 2,100 meters, is built by the private ophthalmopediatric hospital Infosan in partnership with the non-profit Carpați Mountain Association and the Brașov Emergency Situations Inspectorate (ISU Brașov). The […]
The official trailer for The Yellow Tie/Cravata Galbenă, a major international production about the life of renowned Romanian conductor Sergiu Celibidache, has been released, with the film set to hit cinemas nationwide on November 14. The cast includes John Malkovich and Miranda Richardson, both double Academy Award nominees, along with Ben Schnetzer, Kate Phillips, Sean […]
The presidential elections held in November 2024 in Romania were influenced by a large-scale hybrid war orchestrated by Russia before they were cancelled, according to general prosecutor Alex Florența. Romania’s presidential election was annulled last December after declassified reports alleged Russian involvement in cyber activities aimed at undermining the integrity...
