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.
Pulitzer Prize winner Junot Díaz, Tracy Chevalier, the author of the international best seller Girl with a Pearl Earring, and French author Michel Bussi, known for his widely translated thriller novels, are among the authors set to attend this year’s Iași International Literature and Translation Festival (FILIT), the largest literary festival in the country. They […]
Bucharest is about to welcome a culinary moment like no other. This September, the JW Marriott Bucharest Grand Hotel will host Michelin-starred Chef Theodor Falser - a name synonymous with nature-inspired haute cuisine - for three exclusive evenings that promise to delight the senses and tell stories through food. The Chef Who Cooks Nature Theodor […]
The International Monetary Fund (IMF) has endorsed Romania’s latest fiscal measures, forecasting that the economy will grow by 1% in 2025 and 1.4% in 2026, the government said Friday, September 12, after talks with a visiting IMF delegation. The delegation, led by Joong Shik Kang, met prime minister Ilie Bolojan in Bucharest to discuss the […]
The George Ciprian Theater in Buzău has unveiled “E-Waste E-Motion,” the first performance in Romania in which all characters are played by small autonomous robots, blending art, technology, and sustainability in an experimental theatrical project. “E-Waste E-Motion” is part of a broader artistic research initiative supported by the National University of Theatre and Film (UNATC) […]
With extensive experience in the luxury hospitality sector, gained as General Manager of Sofitel Legend The Grand Amsterdam and Hotel Okura Amsterdam (LHW), as well as in various Director of Operations and Business Development roles, Ms. Emmy Stoel is a seasoned professional whose career reflects a deep passion for excellence in guest service, having successfully […]
Update: The woman made her first statements on Friday afternoon after being questioned. According to Digi24, she told journalists outside a police station in Bucharest that the items were family heirlooms from the Soviet era, and that she...
