The growth outlook for Romania's economy this year is only 1.6%, down from 2.1% in 2023, Andrei Radulescu, a member of the Bretton Woods Committee and senior researcher at the Institute of World Economics, Romanian Academy, said on Thursday. ‘Which are the perspectives for the national economy? You have seen last week the first reading of the GDP for Q1. We had growth of only 0.1% in the annual dynamics, namely Q1 against Q1 2023 and the updated prognosis after this flash issued by the National Institute for Statistics shows a growth perspective for the Romanian economy with only 1.6% this year, slowing down from 2.1% last year’ said Radulescu at the conference on the management for lending risk organised by ICAP CRIF.According to his opinion, we will assist the continuation of the investment growth trend but at a slower rhythm as compared to what happened in the previous years.Andrei Radulescu said that in 2023, gross fixed capital formation in Romania increased by more than 14% compared to 2022, but the forecast for this year is an increase of 5% compared to the previous year. As regards inflation, he said that this indicator will continue the convergence trend towards the interval targeted by the central bank but the harmonized indicator of the consumption prices in Romania is positioned as weaker against the countries in the European Union.According to the economist, the upward trend of the euro-leu exchange rate will continue and will soon reach the threshold of 5 lei for one euro. "Romania is facing major macroeconomic imbalances and these will have to be adjusted, including through the exchange rate instrument", says Andrei Radulescu. He warned that the budget and current account deficits will remain at very high levels.
Six men and one woman from Romania have been accused of recruiting dozens of children and adults from foster care centers, whom they then transported to Hungary, where they turned them into slaves, forcing them to work under inhumane conditions. The accused are from the localities of Ozun and Chilieni, Covasna County, Romania, and allegedly […]
The Museum of Collectivization, the first in Romania dedicated to the forced collectivization period of the communist era, is set to open a new wing, Corp B, funded through the EU-backed National Recovery and Resilience Plan (PNRR) and co-financed by the National Cultural Fund Administration (AFCN). With the new building, the museum located in Tămășeni, […]
Romania’s “Madrigal – Marin Constantin” National Chamber Choir, conducted by Anna Ungureanu, will be in Luxembourg and Belgium, as part of the “Bridges Across Europe/Punți peste Europa” European tour, where it will perform five extraordinary concerts. The performances will take place between November 20 and 25, with the help of the Ministry of Culture, the Romanian Embassy […]
The European Development Bank approved a EUR 140 million loan for Romania’s “Cultural Foundations” project, aimed at preserving historical monuments and constructing cultural buildings in the country. The project targets 14 investment objectives of national and European relevance, administered by public institutions under the Ministry of Culture, including the Romanian Athenaeum, the Romanian National Operas […]
Bucharest, November 14, 2024 – Exim Banca Romaneasca offers clients the possibility to verify the true identity of the beneficiary when initiating a payment in RON through internet or mobile banking. This is enabled by the bank’s adoption of the Beneficiary Name Display Service (SANB), which helps prevent fraud and reduces erroneous transactions caused by […]
Fifty NGOs and civic groups, along with the Bucharest Environmental Platform, have drawn up an open letter calling on Romania’s Ministry of Environment, Waters, and Forests to urgently approve the Management Plan for the Văcărești Natural Park in Bucharest. They say the plan has been pending approval for nearly a year. The non-profits noted that […]
