In January – May 2024p, the balance-of-payments current account posted a deficit of EUR 9,175 million, compared with EUR 6,879 million in January – May 2023. The breakdown shows that the deficit on trade in goods widened by EUR 1,428 million, the surplus on services fell by EUR 710 million, the primary income deficit increased by EUR 714 million, while the secondary income surplus grew by EUR 556 million. Non-residents’ direct investmente in Romania totalled EUR 3,342 million (compared with EUR 2,465 million in January – May 2023), of which equity (including the estimated net reinvestment of earnings) and intercompany lending recorded net values of EUR 2,930 million and EUR 412 million, respectively. In January – May 2024, total external debt increased by EUR 5,670 million to EUR 175,753 million, of which: long-term external debt at end-May 2024 ran at EUR 130,997 million (74.5 percent of total external debt), up 7.6 percent against end-2023; short-term external debt at end-May 2024 amounted to EUR 44,756 million (25.5 percent of total external debt), down 7.4 percent from end-2023. Long-term external debt service ratio stood at 13.8 percent in May 2024 against 16.7 percent in 2023. At end-May 2024, goods and services import cover ran at 6.2 months, as compared to 5.6 months at end-2023. At end-May 2024, the ratio of the National Bank of Romania’s foreign exchange reserves to short-term external debt by remaining maturity came in at 113.7 percent, as against 96.3 percent at end-2023.
Unilever has announced the appointment of Irina Urechean as the new General Manager of its Ice Cream Division for Romania and Moldova, effective January 2025. In her new role, Urechean will be responsible for driving the growth and development of the division, focusing on portfolio expansion, innovation, and market leadership. With a career at Unilever […]
Premier Energy Group (BVB: PE), a leading energy provider in Southeast Europe and a listed company on the Bucharest Stock Exchange reports strong growth across its operations in 2024, with preliminary figures showing normalized revenue of EUR 1,263 million, marking a 45% year-over-year increase, and normalized EBITDA of EUR 103 million, up 14% compared to […]
Cristian Măcelaru will conduct the opening concert of the anniversary edition of the George Enescu International Festival, one of the world’s most prestigious classical music events, taking place from August 24 to September 21. The Romanian conductor will lead the George Enescu Philharmonic Orchestra and Choir at the inaugural performance at Sala Palatului in Bucharest, […]
Bucharest's Știrbei Palace is set to become Romania's first high-end retail destination, with Hagag Development Europe announcing its reopening for the second half of 2025. The building on Calea Victoriei will host some of the world's most prestigious brands, the developer said. Fashion houses such as Dior, Saint Laurent, Celine, Valentino Garavani, and Hermes will […]
Interim president Ilie Bolojan said on social media that Romania is a committed and reliable ally, after US president Donald Trump halted all military aid to Ukraine on Tuesday, February 4. Trump’s decision comes after a series of meetings at the White House with top national security officials in the aftermath of the disastrous public […]
Guest writer Henry Páll Wulff shares an ample overview of the top challenges Romania is facing and the potential solutions that local policymakers should consider. A captivating read, this opinion article shows what Romania can learn from countries such as France, Germany, Denmark, Finland, Canada, Costa Rica, and Bhutan. As Romania embarks on a new […]
