Economic activity slowed its growth considerably in Q3 - to 0.4%, from 1.5% in Q2 -, contrary to expectations, according to the minutes of the Board of Directors of the National Bank of Romania monetary policy meeting from January 10, 2022."As regards the cyclical position of the economy, the members of the Council showed that the economic activity slowed down considerably in the third quarter - to 0.4%, from 1.5% in the second quarter -, contrary to expectations. It was noted, at the same time, that the annual dynamics of economic activity recorded a visibly more pronounced decline in the third quarter than the anticipated one, to 7.4%, from 13.9% in the second quarter, but still high from a historical perspective, with the majority contribution of the population's household consumption, as well as the unusually large one also brought in this interval, by the stock variation," the BNR document shows.The BNR notes that the contribution of net exports to the annual GDP dynamics remained negative, but decreased significantly compared to the previous quarter.At this juncture, the RON/euro exchange rate remained relatively stable at the highest level reached in the last month of the third quarter of 2021, even in the face of higher increases in key interest rates carried out by central banks in the region.Council members also noted the steady annual growth rate of credit granted the private sector, which continued to rise in double-digit territory in October and November, given the extension of the rise in the particularly high variation of the RON component, including with the contribution of programs but also against the backdrop of the slight revitalization of foreign currency credit. The credit balance in the national currency accelerated its growth to 19% in November, and its share in the overall credit increased to 72%.
Representatives of the ruling Social Democratic Party, PSD, gathered for a congress in Bucharest on Friday, November 7, to elect new leadership and to amend the party’s Statute. The only candidate for party leader is Sorin Grindeanu, who held the interim position after Marcel Ciolacu's resignation in May. In his speech at the congress, Sorin […]
The e-commerce sector recorded strong early results on Black Friday 2025, according to real-time data released on Friday, November 7, by PayU GPO Romania from its dedicated Media Center. By 14:10, the payment processor reported successful transactions totaling RON 514 million (roughly EUR 101 million). PayU said shoppers had made roughly 889,000 purchases, with around […]
Contakt Express Logistik, one of Romania’s leading retailers of mobile phone and tablet accessories, with a network of over 235 stores, is set to launch the initial public offering (IPO) between November 12 and December 3, 2025. The company offers a wide range of products, including cases, screen protectors, chargers, and gadgets, both in physical […]
Romania attracts fewer international tourists today than it did during the communist era, making it the only country in Europe in this situation, the National Association of Travel Agencies (ANAT) warned, as reported by news agency Agerpres. According to the organization, Romania received more than 3.4...
InterCapital ETF, the first international ETF provider in Romania, will launch two new exchange-traded funds on the Bucharest Stock Exchange starting November 11, 2025. The new instruments are the InterCapital CROBEX10 TR UCITS ETF, which offers exposure to the Croatian blue-chip equity market by tracking the performance of the CROBEX10tr index, and the InterCapital EUR […]
The Competition Councils of Romania, Bulgaria, and the Republic of Moldova have granted the necessary authorizations and approvals for the completion of the transaction through which Maspex Romania takes over the majority shareholding of Purcari Wineries. The Maspex Group, which has been present in Romania for nearly 30 years, became the majority shareholder of one […]
