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.
North Bucharest Investments announces outstanding results following the addition of Horizon City to its portfolio, one of the largest and most modern residential developments currently in the presales phase. In just three weeks, NBI recorded a 40% increase in reservations, highlighting the strong market interest in this strategically positioned project in the northern part of […]
Untold Universe is set to open its Planeta Crǎciun/Planet Christmas holiday market in Cluj-Napoca on Friday, November 21, turning Piața Unirii into a winter attraction filled with lights, music, and various activities. The 41-day event, organized in partnership with the city hall, marks the start of the city’s festive season and includes hundreds of thousands […]
President Nicușor Dan has signed a decree awarding Major General Matthew J. Van Wagenen one of Romania’s highest military honors, the “Military Virtue” Order, Knight rank, the Presidency announced on Wednesday, November 19. The decoration recognizes the US General’s career in senior command and staff positions...
The City Hall of Brașov, a popular mountain resort in central Romania, announced that the narrow Strada Sforii (Rope Street), one of the city's best-known tourist attractions, will be temporarily closed. The authorities cited urgent public safety concerns after experts warned that crumbling plaster from nearby buildings poses a risk to visitors. Mayor George Scripcaru […]
The incoming US ambassador to Romania, Darryl Nirenberg, appeared before the Foreign Affairs Committee in the US Congress on Thursday, November 19, as part of the process of confirming his nomination. During his statements, Nirenberg said that “America’s relationship with Romania has grown into a stable and strategic alliance with cooperation across a range of […]
Train ticket prices will rise by nearly 10% starting December 14, when the new 2025–2026 railway timetable comes into effect in Romania, officials confirmed on Wednesday, as reported by Agerpres. The increase of 9.88% reflects the annual inflation index published by the National Institute of Statistics (INS), in line with...
