Economic growth is expected to decelerate noticeably more pronounced in 2023 than previously anticipated - against the background of high costs, the decrease in external demand and the conduct of monetary policy - and to recover only slightly in 2024, but more accentuated in 2025, according to the Minutes of the meeting of monetary policy of the Board of Directors of the National Bank of Romania (BNR) from November 8, 2023.According to the source, significant uncertainties and risks continue to arise from the future conduct of fiscal and revenue policy, the members of the Council agreed, referring to the recent steps aimed at limiting budget expenditures in 2023 and to the possible addition in the following years of the package of fiscal measures- corrective budgets - including from the perspective of the commitments assumed within the excessive deficit procedure and the conditions attached to other agreements concluded with the European Commission, but also to the potential implications of new legislation regarding pensions and salaries in the public sector, as well as to possible new salary increases granted to public staff."In this context, the members of the Council emphasized once again the importance of the attraction and efficient use of European funds, especially those related to the Next Generation EU program, which are essential for achieving the necessary structural reforms and the energy transition, as well as for increasing the potential for growth and strengthening the resilience of the Romanian economy. At the same time, significant uncertainties and risks were highlighted regarding the economic activity perspective, implicitly the medium-term evolution of inflation, generated by the war in Ukraine and the conflict in the Middle East, as well as by the economic developments below expectations in Europe, especially from Germany," the document states.
Contakt Express Logistik S.A., the Romanian market leader in accessories for phones and tablets, announces the approval of its Prospectus by the Financial Supervisory Authority and the launch of its initial public offering. Following the successful closing of the offering, the company will be listed on the Bucharest Stock Exchange, on the AeRO Market, under […]
The Romanian Environment Ministry has launched a public consultation on changes to national air quality regulations that would allow residents to see real-time pollution levels, replacing the current system based on 24-hour averages. The draft order updates Order 1818/2020, which defines how air quality indices are calculated and reported nationwide. Environment minister Diana Buzoianu said […]
The Bishop of Cluj-Gherla, Claudiu Lucian Pop, has been appointed as the new Major Archbishop of the Greek-Catholic Church, a position that became vacant following the passing of 94-year-old Cardinal Lucian Mureșan in September of this year. The new leader of the Romanian Greek Catholic Church, or the Romanian Church United with Rome, was elected […]
WWF Romania has launched a series of planting initiatives in Bucharest aimed at supporting declining pollinator species, joining forces with local environmental groups to transform urban green spaces into habitats for bees, butterflies, and other beneficial insects. The first intervention took place on November 1 in the 400 sqm garden of the Museum of Maps, […]
Romanian prosecutors conducted searches on Friday, November 7, at the headquarters of the steel mill Liberty Galați and in several counties, in a case of embezzlement and tax evasion that includes Russian gas giant Gazprom, Economedia.ro reported. Specifically,...
Romania has begun testing the US-supplied Merops anti-drone system as part of wider NATO efforts to strengthen air defenses on the alliance’s eastern flank, defense minister Ionuț Moșteanu told local news channel Digi24. The system, already used in...
