In January - August 2021p, the balance-of-payments current account posted a deficit of EUR 10,149 million, compared with EUR 6,549 million in the same year-ago period, the National Bank of Romania informs. The breakdown shows that the deficits on trade in goods and on primary income widened by EUR 2,389 million and EUR 587 million, respectively; the surplus on secondary income and that on services decreased by EUR 315 million and EUR 309 million, respectively. Non-residents' direct investment in Romaniae totalled EUR 4,394 million (compared with EUR 1,481 million in January - August 2020), of which equity (including the estimated net reinvestment of earnings) and intercompany lending recorded net values of EUR 3,803 million and EUR 591 million, respectively. In January - August 2021, total external debt increased by EUR 8,404 million, of which: long-term external debt at end-August 2021 totalled EUR 99,049 million (73.3 percent of total external debt), up 5.9 percent against end-2020; short-term external debt at end-August 2021 amounted to EUR 36,162 million (26.7 percent of total external debt), up 8.7 percent from end-2020. Long-term external debt service ratio ran at 16.4 percent in January - August 2021 against 20.7 percent in 2020. At end-August 2021, goods and services import cover stood at 5.3 months, as compared to 5.6 months at end-2020. At end-August 2021, the ratio of the National Bank of Romania’s foreign exchange reserves to short-term external debt by remaining maturity came in at 89.4 percent, against 90.3 percent at end-2020.
East Grain Group and Poultry Investment SA have acquired the 45% stake previously held by UBM Group in UBM Feed Romania, thus becoming equal shareholders in one of Romania's largest feed producers, which will now operate under the brand Protena. East Grain is controlled by Czech agri-food group Agrofert, one of the largest agribusiness groups […]
The Foreign Investors Council (FIC) has appointed Ruxandra Băndilă as its executive director. Băndilă will coordinate FIC's activity and "will contribute to strengthening the dialogue with authorities, consolidating the organization's positioning as a reliable partner in promoting a stable and predictable business environment, as well as supporting Romania's becoming a competitive and attractive destination for […]
Romania’s European projects and investments minister, Dragoș Pîslaru, announced that he will notify the European Public Prosecutor’s Office (EPPO) regarding the purchase of electric minibuses for students with EU funds. The minister said that “multiple dysfunctions” were noted in how the EU funds were used in the project. Aside from notifying the EPPO, the minister […]
Only about 44% of employees in Romania say they have used AI in the past year, while the average usage rate in the 48 countries included in the report was 57%, according to the PwC Workforce Hopes and Fears Survey 2025 report. India and Vietnam are at the top, with 84%, followed by China (78%). […]
A new four-star hotel is set to rise next to Bucharest’s Henri Coandă International Airport, following a EUR 45.5 million investment announced by real estate developer D. GROUP. The Wyndham Garden Bucharest Airport Hotel, scheduled to open in July 2027, will introduce the Wyndham Garden brand to Romania for the first time. Located 150 metres […]
Romania ranks 3rd in a European heatwave vulnerability ranking and will experience 3 heatwave events annually, lasting 17 cumulative days with average temperatures of 36.82°C, placing it ahead of all Mediterranean countries, according to new research from climate system experts at Reinders Corporation. The study analysed climate modelling data, heatwave frequency, and average temperatures across […]
