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%.
Art Safari, one of Romania's most popular art events, is calling on visitors to put down their phones and reconnect with art in a more meaningful way. The initiative, titled #SăptămânaFărăTelefoane (#WeekWithoutPhones), is set to run from July 17 to 20 and encourages guests to experience exhibitions without distractions from screens, stories, or selfies. In […]
Charge point operator E.ON Drive Infrastructure announced the largest electric vehicle charging hub in Romania in Pitești on Tuesday, July 15. Located in the Vivo! Shopping Complex, the facility includes 50 charging points of various power levels. The company has now surpassed the threshold of 400 publicly available charging points in Romania. The new hub […]
Low-cost airline Wizz Air announced the opening of its first dedicated aircraft maintenance center in Romania, located at Bucharest Băneasa International Airport. Developed in partnership with aerospace and defense company Romaero, the facility marks a strategic move in the airline’s local and regional operations. Scheduled to begin operations in October 2025, the maintenance center will […]
Romania had the highest proportion of people in the European Union unable to afford a one-week holiday away from home in 2024, with 58.6% of the population affected, according to data published by Eurostat on July 15. The figure places Romania at the top of the EU ranking, ahead of Greece (46%) and Bulgaria (41.4%), […]
The no-confidence motion filed by the far-right Alliance for the Union of Romanians (AUR) against the government of prime minister Ilie Bolojan failed on July 14 during the joint session of the Parliament. The outcome was broadly expected, despite the Social Democrats' vocal discontent with what they claim to be the prime minister's authoritarian decision […]
Two of Romania's ruling coalition leaders have signaled that the country will eventually adopt a progressive taxation system, though both parties agree that the current economic and social conditions are not yet suitable for such a shift. The Liberal Party (PNL) and the reformist USR party have previously argued against progressive taxation. Deputy prime minister […]
