According to the Central Bank data, in January – April 2024p, the balance-of-payments current account posted a deficit of EUR 6,576 million, compared with EUR 5,191 million in January – April 2023. The breakdown shows that the deficit on trade in goods widened by EUR 464 million, the surplus on services fell by EUR 651 million, the primary income deficit increased by EUR 791 million, while the secondary income surplus grew by EUR 521 million. Non-residents’ direct investmente in Romania totalled EUR 3,230 million (compared with EUR 2,408 million in January – April 2023), of which equity (including the estimated net reinvestment of earnings) and intercompany lending recorded net values of EUR 3,014 million and EUR 216 million, respectively. In January – April 2024, total external debt increased by EUR 1,804 million to EUR 171,887 million, of which: long-term external debt at end-April 2024 ran at EUR 126,798 million (73.8 percent of total external debt), up 4.1 percent against end-2023; short-term external debt at end-April 2024 amounted to EUR 45,089 million (26.2 percent of total external debt), down 6.7 percent from end-2023. Long-term external debt service ratio stood at 16.9 percent in April 2024 against 16.7 percent in 2023. At end-April 2024, goods and services import cover ran at 6.0 months, as compared to 5.6 months at end-2023. At end-April 2024, the ratio of the National Bank of Romania’s foreign exchange reserves to short-term external debt by remaining maturity came in at 109.1 percent, as against 96.3 percent at end-2023.
The forecasts made by managers in the second half of 2024, as expressed in the CONFIDEX study, were more pessimistic than the actual economic reality of Romania. The onset of the year, however, marked by surprising events, international geo-political tensions, and the unpredictability of the upcoming presidential elections in Romania, may heighten the caution levels […]
Arval Romania has recently launched Arval Re-Lease, a new service dedicated to the local market focusing on the leasing of used vehicles that have completed an operational leasing contract. Arval Re-Lease is designed to meet the common needs of companies, offering comprehensive solutions to reduce costs associated with vehicle rental, insurance, and maintenance services. Arval […]
Bogdan Crețu’s novel Mai puțin decât dragostea/ Less Than Love is Romania’s nomination for this year’s European Union Prize for Literature (EUPL). The European Union Prize for Literature (EUPL) recognizes emerging fiction writers from the European Union and beyond. Each year, national juries choose their proposal in a rotating selection of countries participating in the […]
Interim president Ilie Bolojan is attending the European Council in Brussels on Thursday, March 6, to signal Romania’s position in favor of strengthening NATO's European pillar, supporting Ukraine, and increasing defense spending. He also met with several European leaders before the summit, including the next chancellor of Germany. European leaders met in Brussels to discuss […]
Russia carried out 34 hybrid attacks against Romania in 2024, according to a report presented in the Italian Parliament, based on information published by Romanian authorities regarding last year’s annulled presidential elections. On March 3, Italy’s ambassador to Bucharest, Alfred Maria Durande, announced that foreign forces were involved in the 2024 presidential elections in Romania....
Le Bistrot Français, part of the prestigious hospitality associations Relais & Châteaux, has started a collaboration with Chef Tom Meyer, one of the most appreciated French cooks, awarded by the Michelin guide and holding the title of Meilleur Ouvrier de France. Starting Monday, March 3, the restaurant’s menu will bear his signature, marking a special […]
