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.
Imagine living in Europe with visa-free travel across 29 Schengen countries, low living costs, and access to some of the best tax policies in the EU—all without the typical bureaucratic hurdles. Sounds too good to be true? It’s not. Romania’s business residency program is the ultimate “cheat code” for expats looking to make Europe their […]
Igor Feio, a Portuguese citizen living in Romania for over ten years, analyzes the mechanisms that favored then rise of populist and far-right parties and candidates in the recent presidential and parliamentary elections. Throughout Europe over the last half a decade, movements and parties from what is considered to be a far-right and populist ideology […]
Hungarian low-cost airline Wizz Air is further expanding its base in Craiova, in southern Romania, following the reallocation of its second aircraft, an Airbus A320neo, in the summer of 2025. Starting June 1, 2025, the airline offers a connection between Craiova and Memmingen. Beginning with June 2, it will introduce one between Craiova and Bari. […]
White Image, a leader in business process automation and optimization, has expanded its service portfolio with a new digital solution—integrating brand campaigns into WhatsApp, thus offering clients the opportunity to exploit one of the most effective digital communication channels. This strategic step comes in the context of a growing demand for quick and efficient consumer […]
Moldova, Romania’s small eastern neighbor, is set to declare a state of emergency in the energy sector for 60 days, starting December 16, 2024. The announcement was made by prime minister Dorin Recean during a press conference. This situation has arisen because the Republic of Moldova can no longer rely on supplying Transnistria with gas […]
Legal frameworks often struggle to keep pace with rapid technological advancements, but Andreea Cirstea-Ion and Roman Hamed, the founders of the Romanian law firm Roman HAMED & Andreea ION (“Legal to Business”), are determined to close the gap. In this interview, the duo shares their journey from law school to establishing a firm that thrives […]
