The Macroeconomic Confidence Indicator produced by the CFA Romania Association fell slightly in September, by 0.5 points, to 47.4 points.According to a press release issued by CFR Romania on Thursday, this situation was the effect of the decrease in the current conditions component. The anticipated inflation rate for the 12-month horizon decreased compared to the previous year and stood at an average of 6.86 percent."The slowdown in economic growth and the new tax measures were also reflected in the current conditions component of the confidence indicator, which fell by 6.6 points from the previous year. Also, the conduct of fiscal policy was reflected in the budget deficit expectations for the current year, with the anticipated deficit for this year recording the highest value since the beginning of the year," said Adrian Codirlasu, Vice President of CFA Romania.As for the exchange rate EURO (EUR) to Romanian leu (RON), over 84 percent of the participants anticipate a depreciation of the RON in the next 12 months. No opinion envisaging its appreciation was registered. Thus, the average value of expectations for the 6-month horizon is 5.0169 RON for one EUR, while for the 12-month horizon the average value of the anticipated exchange rate is 5.0607 RON for one EUR.As regards the evolution of residential property prices in the cities, 53 percent of the participants anticipate a decrease in prices, while 42 percent say that the prices of residential property will decrease in the next 12 months.Also, 73 percent of participants believe that current prices are overpriced and 21 percent that they are correctly priced.According to the cited source, the average value of the state budget deficit expectations for this year is 5.8 percent. For the year 2023, the anticipated value of real GDP growth is 2.2 percent.Public debt as a percentage of GDP is expected to increase to 54 percent in the next 12 months.
Some dinners are eaten. Others are remembered. At Corinthia Grand Hotel du Boulevard, the past few months have unfolded like a quiet culinary opera. One by one, Europe’s most celebrated chefs arrived, took over the kitchen of Boulevard 73 and left behind more than menus; they left stories. Now, on December 4, the curtain falls. […]
HORIZON CITY, a €130 million residential project, is emerging as one of the most solid and forward-thinking developments in the Pipera area—both through its scale and through the modern direction it sets for the new residential standards in the north. Developed across nearly 23,000 sqm, with 699 apartments and 926 parking spaces, the project brings […]
Romania’s National Forest Administration, or Romsilva, announced that it is putting over 16,000 Christmas trees up for sale over the winter in a press release published on Thursday, November 27. The trees can be purchased directly from the offices of the forestry districts. Prices range between RON 17 (EUR 3.3) for a spruce...
Lot 3 Pietroasele–Buzău of Romania's A7 highway, also known as the Moldova highway, was inaugurated on Thursday, November 27. The newly inaugurated segment is 13.9 km long. The A7 connects Romania’s historic regions of Muntenia, the southern part of the country, with Moldova, the eastern part. “We are opening another 13 km of the Moldova Motorway […]
The City Hall of Sinaia, a popular mountain town roughly 120 km north of Bucharest, announced that a new attraction, the alpine coaster on Pârtia Nouă, will officially open on December 1. The installation, located in the ski area near the Sinaia Gondola, features what the authorities say is the longest track of its kind […]
The Romanian national team debuted with a victory in Group A of the Women’s Handball World Championship, organized in the Netherlands and Germany. Romania won 33–24 (13–12) against Croatia in the Ahoy Arena in Rotterdam on Thursday, November 27. The Romanian team dominated the match in the second half, left backer Sorina-Maria Grozav scoring 7 […]
