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.
The medieval fortress of Orăștie, in western Romania, was reopened on Monday, August 18, to the general public, after several years in which it underwent a process of conservation and restoration. The fortress, located in Hunedoara County, is now part of the local tourist attractions in the Mureș Valley. “We are inaugurating an important project […]
The famous Babele Cabin, located at an altitude of 2,206 meters on the Bucegi plateau near the Sphinx and Babele formations, was put up for sale for EUR 1.6 million. Built in 1970, the building is in an advanced state of degradation and requires renovation. It has a total of 20 rooms and over 1,760 […]
One of Bucharest’s most popular summer events is back as Cinema în Aer Liber kicks off its 2025 edition on the Insula Artelor in Titan Park. Running from August 19 to September 14, the festival will transform the island into an open-air movie theater, offering audiences four weeks of free evening screenings. This year’s lineup […]
Maria Dănilă, from Constanta, is the first woman in Romania to climb the K2 peak, in the Karakoram mountain range on the border between China and Pakistan. With this climb, she completed the list of the highest peaks in the world, according to Protv.ro. K2 is not only the second-highest peak...
More than 65% of 12th grade graduates from private schools with a dual curriculum in Romania (Class of 2024–2025) have been admitted to prestigious international universities in Europe, the United Kingdom and the United States, according to a study conducted by the Romania Education Alliance (REA) – the first national network bringing together high-performing private […]
Romania’s Ministry of Energy published on Monday, August 18, an ordinance designed to establish a Cybersecurity Incident Response Center in Energy. The new center will prepare the country’s energy sector to face expected and complex cyber threats, according to its initiators. The authors of the project say that the liberalization of the national energy market, […]
