Household consumption is expected to become this year and remain in 2025 the main determinant factor of GDP growth, given the significant acceleration of the growth of real disposable income, but also in the context of real interest rates on household loans and deposits, according to the Minutes of the monetary policy meeting of the Board of Directors of the National Bank of Romania of August 20, 2024."It was noted that, similar to previous forecasts, household consumption is expected to return this year and remain in 2025 the main determinant of GDP growth, given the significant acceleration of real disposable income growth - under the influence of wage increases and social transfers superimposed on the relatively lower downward trajectory of the inflation rate - but also in the context of real interest rates on loans and population's deposits," reads the BNR minute.A significant contribution to GDP growth is likely to continue to come from gross fixed capital formation, whose growth is expected to slow down considerably in 2024-2025, after the strong acceleration in 2023, but to remain alert from a historical perspective, amid the attraction and use of a significant volume of European funds, but decreasing compared to 2023 and in the context of significant uncertainties associated with budget programmes and executions, as well as geopolitical tensions and economic developments in Europe, the members of the Board noted.At the same time, following the evaluation of the relevant indicators, it was concluded that, in the second quarter, private consumption remained the main determinant of economic growth, and a large contribution is possible from the gross fixed capital formation, mainly on account of the construction activity.
Cristian Radu, the mayor of Mangalia - a popular seaside resort in Romania, has been placed in pre-trial detention for 30 days after the Constanța Court of Appeal upheld prosecutors’ request to arrest him on bribery charges. The ruling, delivered on Wednesday, August 27, is final,
Private markets infrastructure provider SeedBlink announced on Thursday, August 28, that it has promoted Ronald Rapberger to head of sales to drive its next phase of growth. The company is in active expansion, and has grown from a fundraising platform into a technology-driven infrastructure for startup investing in five years, according to the company's press […]
The leaders of France, Germany, and Poland traveled to the Republic of Moldova on Wednesday, August 27, to convince people to support the country’s pro-EU government a month from now, on September 28, at the parliamentary elections. Emmanuel Macron, Friedrich Merz, and Donald Tusk delivered emotional speeches in Chișinău and surprised the crowd when they addressed them in […]
A foreign food delivery worker was attacked in Bucharest by a 20-year-old man who struck him in the face while shouting that he was an “invader” and demanding he return to his country. The case drew wide public attention after former police officer Marian Godină shared a video of the incident on Facebook (see below). […]
Timișoara mayor Dominic Fritz has traveled to Istanbul as part of a delegation of European mayors showing solidarity with the arrested mayor Ekrem İmamoğlu. The European delegation also includes the mayors of Barcelona, Athens, Budapest, Sofia, Utrecht, and Zagreb. The European mayors want to draw attention to “the political nature of the arrest of Ekrem […]
Romanian media reported on Wednesday, August 27, that president Nicușor Dan is considering business lawyer Gabriel Zbârcea to lead the Romanian Intelligence Service (SRI), a politically sensitive appointment that requires parliamentary approval.
