The annual inflation rate is expected to continue its pronounced upward trend up to mid next year, and implicitly will rise above the target interval and values previously predicted, mainly as an effect of the ample increases anticipated to be noted in the price of energy products in Q4 2021 and Q1 2022, shows the National Bank of Romania (BNR), in a release.According to the BNR, important sources of uncertainty and risks remain, at the same time, the conduct of fiscal policy, as well as the absorption of European funds, with priority of those referring to the Next Generation EU programme, including in the context of the political crisis, given, among others: the unknowns regarding the second budget revision this year and the coordinates of the budget draft for 2022, which would attest the acceleration in perspective of the fiscal consolidation, according to the commitments assumed in the context of the excessive deficit procedure; the legal and technical procedures that must be finalized to obtain pre-financing from funds coming from the National Recovery and Resilience Plan (PNRR), together with the targets and benchmarks that condition the receiving of later tranches of financing.Wave four of the pandemic and the restrictive measures associated continue, also, to generate uncertainties and great risks on predictions, especially in near perspective, in the context of the grave public health crisis provoked internally and the potential implications on economic activity and the labor market, but also on the backdrop of its extension in other European states, strongly affected by the energy crisis and the persistence of blockages in production and supply chains.BNR mentions that it is monitoring carefully the developments of the internal and international environment and is ready to use the instruments at its disposal in view of fulfilling the fundamental objective regarding the stability of prices on the medium-term.
În cautarea paradisului pierdut (In search of the lost paradise), a documentary film looking at the phenomenon of reverse migration from urban to rural areas, will be screened in Bucharest this week. The film highlights the experiences of those who decided to reconfigure their lives and leave the urban environment for the rural one. The […]
The publicly-traded Romanian shipbuilder Orşova Shipyard, BVB ticker symbol SNO, partially owned by Longshield Investment, recently secured two significant contracts with Rensen-Driessen Shipbuilding B.V. from the Netherlands. As per the contracts, the Romanian shipyard will construct and deliver two river vessels with a combined value of EUR 8.58 million. The delivery dates are set for […]
From ancient customs, old beliefs, and folk magic, Romania has come a long way in defining cultural beliefs. Today, many are fascinated by the old beliefs and find inspiration in their heritage and cultural roots. But how does spirituality look in modern Romania and how did it develop through the ages? The Roots of Traditional […]
The Romanian Ministry of Foreign Affairs has established a logistical support center in Valencia, eastern Spain, to assist Romanian citizens affected by the severe flooding caused by Cyclone DANA. The new center, located at Plaza del Alfonso el Magnánimo in Valencia, is staffed by officials from the Romanian Embassy in Madrid and Consulates in Madrid […]
Romanian president Klaus Iohannis promulgated on Tuesday, November 5, the law that allows the local referendum of Bucharest to be held on the same day as the first round of the presidential elections,
The European Film Academy revealed the nominees for the main categories of the European Film Awards 2024, and Anul Nou Care N-a Fost/The New Year That Never Came, the first fiction feature written and directed by Bogdan Mureşanu, is on the list. The Romanian production is one of the six running in the European Discovery 2024 – […]
