Romania's economy will grow by 3.5% this year and by 4.5% on average in the coming two years, while the twin deficits would shrink considerably over the coming three years, according to the latest macroeconomic projection from the country's largest financial group Banca Transilvania (BVB: TLV). The bank thus revised downward its forecast for this year's economic growth from 5.1% envisaged under the latest scenario published on January 17. Therefore, Banca Transilvania remains on the optimistic side, as long as other banks (such as BCR ErsteBanca Transilvania anticipates an exchange rate of 5 lei / euro in 2022, and the average inflation will be 6.9% Group Bank) expect growth rates rather close to 2% this year. Romania's largest financial group grounds its expectations on "an evolution supported by the continuation of the investment cycle, with an impact for the other components of the GDP," according to Banca Transilvania's research note, quoted by Ziarul Financiar. "We have updated the forecasts for the dynamics of the Romanian economy in the short and medium-term by incorporating the latest global, European and domestic macro-financial developments, including the INS provisional estimates on performance in Q4 last year and the pandemic year 2021. According to the new forecasts, Romania's economy could grow with annual dynamics of 3.5% in 2022, 4.4% in 2023 and 4.7% in 2024." The scenario also includes a significant reduction of the current account (CA) gap from 7.1% of GDP in 2021 to 5.5% of GDP this year and under 5% of GDP in 2023 to no more than 3.3% of GDP in 2024. The gap rose to 7.4% of GDP in the 12 months to January 2022. BTRL remains optimistic in regard to the fiscal consolidation as well, envisaging a public deficit of 5.0% of GDP this year, 3% of GDP in 2023 and 2.5% of GDP (under ESA) of 2.5% of GDP in 2024.
Coca-Cola celebrated 30 years of production at its Timișoara plant, in western Romania, by announcing a RON 5 million (roughly EUR 1 million) investment in a solar park, the company’s first renewable energy facility in Romania. The new solar installation will cover about 20% of the factory’s electricity needs and cut carbon dioxide emissions by […]
Solar Open Day brought the public closer to a new photovoltaic park. On September 17, the Romanian Photovoltaic Industry Association (RPIA) organized in Călugăreni, Giurgiu County, the third edition of the event, which has already become a landmark for the solar energy industry. This year’s host was PPC Renewables Romania, which opened the doors of […]
Grivița 53, the first private theatre built in Romania in roughly 80 years, was unveiled in Bucharest after nearly a decade of construction and fundraising efforts that brought together more than 14,000 supporters. The project, valued at about EUR 4.5 million so far, was launched in 2016 by director and writer Chris Simion-Mercurian and Tiberiu […]
An injured 24-year-old French tourist was rescued after falling in the Valea Căldărilor area of Romania’s Bucegi Mountains on Friday morning, September 19. The young man was recovered by mountain rescuers after an operation that lasted more than six hours. According to the data communicated by Salvamont Prahova, he was part of a group of […]
Vodafone Romania and Digi Romania announced the signing of the relevant legal documents for acquiring Telekom Romania Mobile Communications from the OTE group and Deutsche Telekom on Friday, September 19. The two telco operators will split Telekom assets between them. As part of the deal, Vodafone spent EUR 30 million, while Digi paid EUR 40 […]
Sebastian Burduja, adviser to prime minister Ilie Bolojan and former minister of energy, warned of the security impact of the sale of major dairy Napolact to a group owned by a businessman close to the Hungarian prime minister Viktor Orban, according to
