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)
The countdown is on until the start of the largest local fest, Transilvania International Film Festival on 13 June. Or, as everyone calls it: TIFF. To pass the time and (or) have an alternative, do not miss some of the most entertaining stories of all time courtesy of suspense master Alfred Hitchcock. And check out […]
Roughly 45.7% of Romanians believe the country’s May presidential elections were rather unfairly organized, while 50.4% believe they were fair, according to a survey by INSCOP Research. Romania's previous presidential elections, which saw centrist Bucharest mayor Nicusor Dan emerge victorious, saw extreme polarization. Immediately after...
CARFIL Brasov, central Romania, is set to begin production of three types of Romanian military UAVs this year, news agency Agerpres reported. The drones, named Cuda, Sirin, and a marine drone, were unveiled at the Southeast Europe Special Operations Forces Forum 2025 (SEESOF) in Targu Mures, the first international expo-forum dedicated to the special operations forces. ...
The National Meteorological Administration of Romania, or ANM, aims to become a European regional hub for professional training in the field of climate change, according to director general Elena Mateescu. The official noted during “The Future of Agriculture” forum held on Thursday, June 5, that the ANM has already completed the European Agrometeorology Center, which […]
Romania’s Interior Ministry (MAI) and Defense Ministry (MApN) have warned of ongoing disinformation campaigns on social media aimed at manipulating public opinion. The latest wave of false claims includes reports about the imposition of martial law and border closures, seeking to heighten public anxiety over the risk of war. Romanians, whether abroad or within the […]
The International Monetary Fund (IMF) issued new recommendations to Romania, among which is an increase in VAT, but also excise duties, dividend taxes, and the introduction of two income tax rates of 15% and 25%. At the same time, it recommends the reduction or elimination of the health insurance contribution, as well as a change in […]
