Over 85% of members of the Financial Banking Analysts in Romania (AAFBR) estimate inflation will exceed 8% in 2022, but there is also a moderate to high risk to enter stagflation. AAFBR released a new opinion poll with the specialists' opinion about the impact of the conflict in Ukraine on Romania's economy. 55 AAFBR members answered the questionnaire over March 22- April 8, 2022. “The visibility on economic prospects is lower in the context of the war in Ukraine. However, it is important to watch economic tendencies closely and do this estimating exercise on key macroeconomic aspects, at least on a short term. Therefore, over 85% of AAFBR members consider that inflation will exceed 8% in 2022 and there is a moderate to high risk of going into stagflation. The monetary policy rate is anticipated to grow towards 4% by half of participants in the survey and even towards 5% by a third of participants, considering the need of counteracting high inflation,” says Daniela Ropota, AAFBR president. Inflation reached 10.2% in March 2022, compared to March 2021, this being the highest level since 2004 to the present. The tendency of the EUR/RON exchange rate is rising to an estimated 5 lei for 1 euro in 2022. “In these conditions, economic growth is estimated to slow down significantly this year, reaching 0-2% according to 38% of respondents or even recession in the view of 7%of respondents,” she added. When the survey was made, over 90% of respondents expected a stable or growing tendency of economic sanctions on Russia and there were divided opinions about the process of accelerating obtaining energy from renewable sources in Romania, a more stable tendency on a short term.
The exhibition RomanIa – Identity representation of traditional dress in art, currently on view at the National Museum of Art of Romania (MNAR), gathers a variety of artistic representations of the traditional blouse ia, from painting and sculpture, to drawing, photography, installation, film, music, posters, fashion, books, albums, and more. It includes works by Henri […]
Over 136,000 non-EU citizens held residence permits for employment in Romania at the end of August this year, most of them coming from Nepal, Sri Lanka, Turkey, Moldova, and India, and two out of three immigrants live in Bucharest, Ilfov, Constanța, Timiș, and Cluj, according to a study conducted by the Economic and Social Council. […]
Romanian prosecutors conducted house searches in 12 locations in Bucharest and two in Târgu Mureș on Wednesday, November 26, in a case targeting former employees of bankrupt insurer Euroins. Specifically, the searches targeted 10 individuals who held executive management positions within Euroins, as well as the headquarters of legal entities controlled by the Bulgarian shareholders […]
Prices in Bucharest’s premium residential market have doubled over the past few years, reaching record highs amid a severe shortage of supply in the city’s most exclusive neighborhoods, Cushman & Wakefield Echinox said. Areas such as Primăverii, Kiseleff, Aviatorilor, and Dorobanți continue to dominate demand. Over the past 2 or 3 years, prices for premium […]
The Romanian Consulate in New York shared on social media the story of George Pomuț (George Pomutz, born Gheorghe Pomuț), the Romanian-American who facilitated the sale of Alaska to the US. Despite his role in US history, the Romanian is largely unknown today, the Consulate noted. Pomuț was born in the Hungarian town of Gyula, […]
Shares of Cris-Tim Family Holding (BVB: CFH) began trading on the Bucharest Stock Exchange on November 26 after an IPO worth RON 454.35 million (EUR 89.3 million) conducted last month. Cris-Tim is now the largest entrepreneurial company in the food sector on the BVB Main Market. The funds raised from institutional and over 8,000 retail […]
