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.
“Garden of Memories,” a civic initiative meant to commemorate the 1989 Revolution that led to the fall of communism in Romania, is set to take place between December 19-20 around the Memorial of Rebirth, in Bucharest’s Revolution Square. Organized by the Streets for People Association, together with the Bucharest City Hall and the Museum of […]
Runware, a startup founded by two Romanian entrepreneurs, announced last week that it has secured a USD 50 million Series A funding round led by Dawn Capital, one of the largest European investors in B2B software companies. The round also included Comcast Ventures, Speedinvest, Insight Partners, and a16z Speedrun. The company founded by Flaviu Rădulescu and […]
The body of Romanian former justice minister Rodica Stănoiu was exhumed on Monday, December 15, after prosecutors opened an in rem case regarding her suspicious death, Digi24 reported. Investigators are looking into the possibility that the former minister may have been killed through negligence. ...
Authorities in Romania have begun imposing fines for owners of bicycles and electric scooters who do not take out mandatory motor third-party liability insurance (RCA). The new rules have been applicable since November 13, but the Romanian Parliament granted a 30-day grace period until the application of sanctions, according to...
Art Safari will relocate to Amzei Square in central Bucharest in 2026, where it will operate under a new format titled Art Safari New Museum, following more than a decade of pop-up exhibitions hosted in historic buildings across the capital. After 12 years, 17 editions, and more than 1 million visitors, the exhibition platform will […]
In Romania, Christmas is more than holiday markets, decorated trees, and wrapped gifts. It's a season filled with old customs, lively rituals, and dishes that bring families together. One of the most popular Christmas traditions is caroling. Although traditions vary depending on the area, the ritual of going from house to house and singing carols […]
