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%.
The countdown is on until the start of the largest local fest, Transilvania International Film Festival on 13 June. Or, as everyone calls it: TIFF. To pass the time and (or) have an alternative, do not miss some of the most entertaining stories of all time courtesy of suspense master Alfred Hitchcock. And check out […]
Roughly 45.7% of Romanians believe the country’s May presidential elections were rather unfairly organized, while 50.4% believe they were fair, according to a survey by INSCOP Research. Romania's previous presidential elections, which saw centrist Bucharest mayor Nicusor Dan emerge victorious, saw extreme polarization. Immediately after...
CARFIL Brasov, central Romania, is set to begin production of three types of Romanian military UAVs this year, news agency Agerpres reported. The drones, named Cuda, Sirin, and a marine drone, were unveiled at the Southeast Europe Special Operations Forces Forum 2025 (SEESOF) in Targu Mures, the first international expo-forum dedicated to the special operations forces. ...
The National Meteorological Administration of Romania, or ANM, aims to become a European regional hub for professional training in the field of climate change, according to director general Elena Mateescu. The official noted during “The Future of Agriculture” forum held on Thursday, June 5, that the ANM has already completed the European Agrometeorology Center, which […]
Romania’s Interior Ministry (MAI) and Defense Ministry (MApN) have warned of ongoing disinformation campaigns on social media aimed at manipulating public opinion. The latest wave of false claims includes reports about the imposition of martial law and border closures, seeking to heighten public anxiety over the risk of war. Romanians, whether abroad or within the […]
The International Monetary Fund (IMF) issued new recommendations to Romania, among which is an increase in VAT, but also excise duties, dividend taxes, and the introduction of two income tax rates of 15% and 25%. At the same time, it recommends the reduction or elimination of the health insurance contribution, as well as a change in […]
