The National Bank of Romania (BNR) has upwardly revised its inflation forecast for the end of 2024 to 4.9% from previously 4%, and expects it to reach 3.5% at the end of 2025, shows data presented on Monday by BNR governor Mugur Isarescu.According to the presentation, oscillations in the CPI inflation rate are generated by the basic effects associated with past developments: the removal from the calculation of the annual inflation rate of the January 2024 indirect tax increases, as well as of the Q2 gas and unprocessed food price cuts etc.Re-entry into the inflation target range is expected to happen in the first part of 2026. The upward revision from the numbers projected in the previous Inflation Report, notably in the first part of the projection range, yet with a persistent effect in the medium-term too, is mainly linked to the worse than anticipated recent developments in the food segment."What we know for sure is that a fiscal-budgetary correction is in store, which will also result in an external adjustment. Both twin deficits are around 8%, so it is difficult to say that the non-governmental sector would contribute too much or significantly to the external deficit. The public deficit is roughly equal to the external deficit. The corrections that will be made to the public deficit will of course reflect in the external deficit too. We do not have hard data regarding the manner in which these corrections will be done, and consequently this forecast is based only on what we know at present. It does not include the fiscal-budgetary correction measures that will be implemented next year, and depending on them the inflation rate may be higher or lower," the BNR governor explained.
Some dinners are eaten. Others are remembered. At Corinthia Grand Hotel du Boulevard, the past few months have unfolded like a quiet culinary opera. One by one, Europe’s most celebrated chefs arrived, took over the kitchen of Boulevard 73 and left behind more than menus; they left stories. Now, on December 4, the curtain falls. […]
HORIZON CITY, a €130 million residential project, is emerging as one of the most solid and forward-thinking developments in the Pipera area—both through its scale and through the modern direction it sets for the new residential standards in the north. Developed across nearly 23,000 sqm, with 699 apartments and 926 parking spaces, the project brings […]
Romania’s National Forest Administration, or Romsilva, announced that it is putting over 16,000 Christmas trees up for sale over the winter in a press release published on Thursday, November 27. The trees can be purchased directly from the offices of the forestry districts. Prices range between RON 17 (EUR 3.3) for a spruce...
Lot 3 Pietroasele–Buzău of Romania's A7 highway, also known as the Moldova highway, was inaugurated on Thursday, November 27. The newly inaugurated segment is 13.9 km long. The A7 connects Romania’s historic regions of Muntenia, the southern part of the country, with Moldova, the eastern part. “We are opening another 13 km of the Moldova Motorway […]
The City Hall of Sinaia, a popular mountain town roughly 120 km north of Bucharest, announced that a new attraction, the alpine coaster on Pârtia Nouă, will officially open on December 1. The installation, located in the ski area near the Sinaia Gondola, features what the authorities say is the longest track of its kind […]
The Romanian national team debuted with a victory in Group A of the Women’s Handball World Championship, organized in the Netherlands and Germany. Romania won 33–24 (13–12) against Croatia in the Ahoy Arena in Rotterdam on Thursday, November 27. The Romanian team dominated the match in the second half, left backer Sorina-Maria Grozav scoring 7 […]
