Economic growth will considerably decelerate in 2022 and 2023, more pronounced than expected, according to the minutes of the central bank leadership talks, released on Monday. Inflationary expectations of companies are rising, amid the trend of eroding consumer purchasing power. During the meeting, the Board of the National Bank of Romania discussed and adopted the monetary policy decisions, based on the data on and analyses of recent macroeconomic developments and the medium-term outlook submitted by the specialised departments, as well as on other available domestic and external information. Looking at the recent developments in consumer prices, Board members showed that, in December 2021, the annual inflation rate had climbed above expectations, to 8.19 percent from 7.80 percent in November, rising even higher above the variation band of the target and adding 6.13 percentage points from the end of 2020. 80 percent of the advance seen in 2021 had come, however, from the increases in natural gas, electricity and fuel prices, while half of the contribution of only 15 percent made by core inflation had been attributable to processed food, Board members remarked, underlining the much more modest rise in the annual adjusted CORE2 inflation rate to 4.7 percent in December 2021, from 3.3 percent in December 2020. It was emphasised yet again that inflation developments in Romania had been driven by global supply-side shocks, which had triggered a steep upward movement of inflation worldwide in 2021, way above central banks’ inflation targets, including in numerous European countries. On the domestic front, their impact had been compounded by the liberalisation of the electricity market for household consumers at the beginning of 2021, several Board members reiterated. (Details on :https://www.bnr.ro/Minutes-of-the-monetary-policy-meeting-of-the-National-Bank-of-Romania-Board-on-9-February-2022---23913.aspx)
Representatives of the ruling Social Democratic Party, PSD, gathered for a congress in Bucharest on Friday, November 7, to elect new leadership and to amend the party’s Statute. The only candidate for party leader is Sorin Grindeanu, who held the interim position after Marcel Ciolacu's resignation in May. In his speech at the congress, Sorin […]
The e-commerce sector recorded strong early results on Black Friday 2025, according to real-time data released on Friday, November 7, by PayU GPO Romania from its dedicated Media Center. By 14:10, the payment processor reported successful transactions totaling RON 514 million (roughly EUR 101 million). PayU said shoppers had made roughly 889,000 purchases, with around […]
Contakt Express Logistik, one of Romania’s leading retailers of mobile phone and tablet accessories, with a network of over 235 stores, is set to launch the initial public offering (IPO) between November 12 and December 3, 2025. The company offers a wide range of products, including cases, screen protectors, chargers, and gadgets, both in physical […]
Romania attracts fewer international tourists today than it did during the communist era, making it the only country in Europe in this situation, the National Association of Travel Agencies (ANAT) warned, as reported by news agency Agerpres. According to the organization, Romania received more than 3.4...
InterCapital ETF, the first international ETF provider in Romania, will launch two new exchange-traded funds on the Bucharest Stock Exchange starting November 11, 2025. The new instruments are the InterCapital CROBEX10 TR UCITS ETF, which offers exposure to the Croatian blue-chip equity market by tracking the performance of the CROBEX10tr index, and the InterCapital EUR […]
The Competition Councils of Romania, Bulgaria, and the Republic of Moldova have granted the necessary authorizations and approvals for the completion of the transaction through which Maspex Romania takes over the majority shareholding of Purcari Wineries. The Maspex Group, which has been present in Romania for nearly 30 years, became the majority shareholder of one […]
