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.
Romanian-born actor Sebastian Stan has been nominated in the category of "Best Actor in a Leading Role" for his performance in the film The Apprentice at the 2025 BAFTA Awards. Stan portrays Donald Trump in The Apprentice, focusing on the early years Trump spent in New York. The film depicts a young Trump as an emotional […]
Romanian authorities in coordination with the European Commission participated on Wednesday, January 15, in the urgent medical evacuation operation of 12 Palestinian patients from the Gaza Strip, along with 35 family members. Those evacuated are severely affected by the lack of access to adequate medical treatment. The operation was carried out with the involvement of […]
Romania’s state railway operator CFR Călători will receive 12 new electric trains, which will connect Bucharest with the largest cities in the country’s eastern counties. The trains, part of a contract with the Railway Reform Authority, or ARF, will connect Bucharest North station to Suceava, Iași, Galați, as well as Iași to Cluj-Napoca. According to […]
In a decision adopted in its Thursday meeting, the Romanian government approved May 4, 2025, as the new date for the first round of the presidential elections. The second round should thus be held on May 18, as agreed by the ruling coalition leaders last week. "Two government decisions and an emergency ordinance have been […]
Most of the excavation for the first tunnel built on a highway in Romania has been completed, and traffic could potentially be opened by the end of this year between Tigveni and Bucharest, a section of the Sibiu-Pitești highway. Romanian state officials noted construction work at Section 4 (Tigveni - Curtea de Argeș) of the […]
The European Bank for Reconstruction and Development, or EBRD, invested EUR 707 million in 44 projects in Romania in 2024 to support the country’s green transition, a sharp increase compared to the previous year, when it invested EUR 658 million spread over 23 projects. EBRD cooperates with private corporations, equity funds, banks, as well as local […]
