The annual inflation rate dropped, in May 2024, to 5.12%, from 5.9% in April, in the conditions in which food products rose in price by 1.24%, non-food products by 6.38% , and services by 9.29%, according to the data published on Wednesday by the National Institute of Statistics (INS)."The consumer price index in May 2024 compared to April 2024 was 99.89%. The inflation rate since the beginning of the year (May 2024 compared to December 2023) was 2.3%. The annual inflation rate in May 2024 compared to May 2023 was 5.1%. The average rate of change in consumer prices in the last 12 months (June 2023 - May 2024) compared to the previous 12 months (June 2022 - May 2023) was 7.6%," it is shown in the INS press release.The harmonized index of consumer prices in May 2024 compared to April 2024 was 100.03%. The annual inflation rate in May 2024 compared to May 2023, calculated on the basis of the harmonized index of consumer prices was 5.8%. The average rate of change in consumer prices in the last 12 months (June 2023 - May 2024) compared to the previous 12 months (June 2022 - May 2023) determined on the basis of the IAPC was 7.6%.The National Bank of Romania (BNR) revised the inflation forecast for the end of this year to 4.9%, from 4.7% previously, and anticipated that it will reach 3.5% at the end of 2025, according to the data presented last month by the governor of the BNR, Mugur Isarescu.
President Nicusor Dan signed on Thursday the decree appointing Prime Minister Ilie Bolojan as interim Vice Prime Minister on the areas coordinated by Dragos Anastasiu, the Presidential Administration informed.On 27 July, Dragos Anastasiu announced he was stepping down from the vice prime minister office, mentioning that he could no longer accept "being denigrated and thus […]
Prime Minister Ilie Bolojan continued consultations on Thursday with representatives of the Association of Communes of Romania, telling them there is a strong chance to overcome the current difficult period if the approach of "responsibility toward public funds" is maintained."The reform of local public administration will be part of the second package of government measures […]
Financing the National Recovery and Resilience Plan (PNRR) projects will continue for those already initiated and will stop only in case investment has not begun, where not a single euro was spent for construction, Development minister Cseke Attila explained on Thursday. “PNRR will not stop, neither will financing investments which have already been initiated, […]
The Justice Ministry announced on Thursday having developed in cooperation with the Finance Ministry and the National Tax Administration Agency a set of proposals to amend the Insolvency Law, which will be included in the second reform package.Some of the amendments provide for a higher recovery rate of the taxes and fees owed by insolvent […]
Romania is in the antechamber of recession, with the risk that its economy will decline in the third or fourth quarter, especially amid an increase in taxes, a significant drop in sales and record inflation at European level, says business consultant Adrian Negrescu."We are currently in the antechamber of recession. It is a moment […]
The Ministry of Culture announced on Thursday that is set to adapt national legislation for enforcing the European Media Freedom Act (EMFA), which supports media pluralism, editorial responsibility, protects journalists from abusive surveillance and intimidation, and provides protection for sources.According to a Culture Ministry release, the implementation in Romania of Regulation (EU) 2024/1083 of the […]
