The season of Christmas markets and fairs kicks off this week in Sibiu, Craiova, and in Bucharest, while an exhibition on Caravaggio's influence opens in Timișoara.
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.
The season of Christmas markets and fairs kicks off this week in Sibiu, Craiova, and in Bucharest, while an exhibition on Caravaggio's influence opens in Timișoara.
Electrical cable manufacturer ELECTROPLAST is carrying out an investment project estimated at over EUR 9 million for modernizing the production unit and expanding its facilities. This investment project will triple production capacity and lead to reduced electricity consumption and carbon footprint. ELECTROPLAST is participating in the modernization of Romania's railway infrastructure. The company recently contracted...
Following an investment of EUR 2.5 million in the renovation and refurbishment of a historic building in the Rosetti Square area in downtown Bucharest, the InStil Hotels group, owned by the Alecu family, is diversifying its portfolio with a new 4-star boutique hotel property. Named Ecletico Villa, the property offers 18 rooms. The new boutique […]
The rising labor costs, the recruitment process, and the retention of experienced employees are the main challenges for business services companies active in the country, according to the 2024 report of the Association of Business Service Leaders in Romania (ABSL). According to ABSL data, all companies reported salary increases this year, and the estimated growth […]
MerchantPro, local SaaS eCommerce platform, analyzed the performance during the week leading up to Black Friday 2024, confirming the establishment of Black Week as an extended shopping event that captures consumer interest over seven days. Data collected from a sample of approximately 1,000 local online stores shows a 5% increase in the number of orders...
The sixth edition of the Classix Festival takes place in Iași between February 23 and March 2, 2025. According to the organizers, the event's new concept, Revelations!/Revelații!, "outlines moments of profound clarity, unexpected inspirations, and mind-blowing discoveries." "After previous editions focused on the discovery of desires (2024), metamorphoses (2023), and the primal instinct of music […]