BNR expects a slowing down of economic activity in most economic sectors, except for agriculture, in quarters 3 and 4, according to the November Report on inflation. According to the source, economic activity especially in HoReCa and cultural-recreational activities, is evaluated as having benefited, in the first two months of quarter 3, from the relaxation of an important number of mobility restrictions, on the background of the improvement of the medical situation. Also in this context, there is a high level of the economic agents' confidence in July and August. ESI indicator calculated by DG ECFIN recorded some of the highest values since the beginning of pandemic. In exchange, unfavorable signals came from the dynamic of industrial production and the building sector, on the background of the persistence of differences in supply chains (in the context of microchip crisis and the global raw material price increase) evaluated with a more persistent character than initially anticipated. Moreover, exports are foreseen to benefit from the activity recovery of the main commercial partners in the euro zone, on the background of a better control of the health situation in those states. The institution foresees that the new trajectory includes: slowdown effects, higher than previous estimates, of economic activity in the last two quarters of the current year and the contraction impact, anticipated to persist for some time, because of energy prices. The average annual GDP increase is imprinted by that of people's household consumption, to which is added the solid contribution of the formation of fix capital. The contribution of real net exports is designed to remain negative, with higher values in 2021 (against the previous year). For the current year, the designed contribution of the variation of stocks in the average GDP dynamic is very high.
Daniel Christian Hulea, a Romanian man accused of contributing to the NetWalker ransomware attacks, has been sentenced to 20 years in prison after pleading guilty to conspiracy to commit computer fraud and wire fraud, according to a public announcement from the US Department of Justice. NetWalker was a Ransomware-as-a-Service operation launched in 2019, which recruited […]
The new Romanian government, headed by the same Social Democratic prime minister, Marcel Ciolacu, recently made its governance program public. Among its objectives are reducing the level of bureaucracy, maintaining the flat tax rate, and reducing the budget deficit to 7% in 2025. To reach its goals, the government reduced the number of ministries to […]
The European Commission (EC) announced on Monday, December 23, that it disbursed payments under the Recovery and Resilience Facility (RRF) to Czechia, Germany, Italy, Portugal, and Romania, totaling EUR 26.8 billion in loans and grants. Under this latest disbursement, Romania received EUR 37.05 million as part of its second payment request. By comparison, according to the...
Romanian film trilogy Moromeții, directed by Stere Gulea, will be presented at the 54th edition of the Rotterdam International Film Festival, taking place from January 30 to February 9, 2025. This renowned European event, which annually presents hundreds of films across more than 20 sections, will feature the three films - Moromeții (1987), Moromeții 2 […]
Romania issued state aid worth EUR 1.3 billion during 2019-2023, with 62% of the projects being granted to foreign companies, according to an analysis conducted by EY Romania. The sectors that benefited the most from aid were the automotive industry, technology, manufacturing (light industry), medical industry, and the food and beverage industry. According to the […]
The Abracadabra – Secrets of Magic interactive exhibition will transform Arcub – Hanul Gabroveni in Bucharest into a magical universe starting December 27, 2024. Running until May 4, 2025, the event offers visitors the opportunity to explore a labyrinth of magic, featuring over 20 interactive attractions and more than 500 live performances by MAGITOT and […]
