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.
With extensive experience in the luxury hospitality sector, gained as General Manager of Sofitel Legend The Grand Amsterdam and Hotel Okura Amsterdam (LHW), as well as in various Director of Operations and Business Development roles, Ms. Emmy Stoel is a seasoned professional whose career reflects a deep passion for excellence in guest service, having successfully […]
Security officers at Romania’s Parliament stopped a woman on Friday morning, September 12, as she attempted to enter the building carrying six knives, according to media reports. The woman, a 35-year-old from Moldova, was on a supplementary guest list submitted by the nationalist AUR party for an economic forum scheduled inside the Palace of Parliament, […]
Bucharest will host the 12th edition of Asia Fest, the largest festival dedicated to Asian culture and gastronomy in Southeast Europe, from September 19 to 21 at the National Arena’s courtyard. Organizers describe the event as a “journey through Asia,” combining culture, entertainment, and sustainability initiatives. The three-day festival will showcase traditions, music, dance, and […]
The Romanian city of Alba Iulia will attempt to set a Guinness World Record on Saturday, September 13, with Masa Care Unește/The Table That Unites, a massive community gathering where more than 10,000 people will sit at a 2.7-kilometer-long table built entirely from recycled materials around the historic Alba Carolina Citadel. The event, organized by […]
Discount retailer Pepco celebrated a decade of operations in Romania on Thursday, September 11, with the opening of its 500th store nationwide. The company, which first entered the country in 2015 with stores in Bucharest, Ploiești, and Câmpina, now operates in more than 100 cities and employs nearly 4,000 people. Romania has become Pepco Group’s […]
Social Democrat (PSD) MP Mihai Weber, head of the parliamentary defense committee, came under fire after investigative platform Snoop unveiled his EUR 140,000 hybrid Mercedes AMG GLE 53 purchased this year through a small firm that operates no more than a countryside...
