Economic growth is expected to decelerate noticeably more pronounced in 2023 than previously anticipated - against the background of high costs, the decrease in external demand and the conduct of monetary policy - and to recover only slightly in 2024, but more accentuated in 2025, according to the Minutes of the meeting of monetary policy of the Board of Directors of the National Bank of Romania (BNR) from November 8, 2023.According to the source, significant uncertainties and risks continue to arise from the future conduct of fiscal and revenue policy, the members of the Council agreed, referring to the recent steps aimed at limiting budget expenditures in 2023 and to the possible addition in the following years of the package of fiscal measures- corrective budgets - including from the perspective of the commitments assumed within the excessive deficit procedure and the conditions attached to other agreements concluded with the European Commission, but also to the potential implications of new legislation regarding pensions and salaries in the public sector, as well as to possible new salary increases granted to public staff."In this context, the members of the Council emphasized once again the importance of the attraction and efficient use of European funds, especially those related to the Next Generation EU program, which are essential for achieving the necessary structural reforms and the energy transition, as well as for increasing the potential for growth and strengthening the resilience of the Romanian economy. At the same time, significant uncertainties and risks were highlighted regarding the economic activity perspective, implicitly the medium-term evolution of inflation, generated by the war in Ukraine and the conflict in the Middle East, as well as by the economic developments below expectations in Europe, especially from Germany," the document states.
Moldova will not compete in the Eurovision 2025 song contest. The decision was made "following a detailed analysis of the current situation, as well as economic, administrative, and artistic challenges," the organizers stated. The announcement was made on Wednesday, January 22, by the director of the national television Moldova 1, Corneliu Durnescu, and the head […]
Low-cost airline Wizz Air said that it continues its expansion at the Sibiu base with the allocation of a second aircraft in the summer of 2025, bringing the total number of aircraft in Romania to 33. The company will thus increase capacity in the Transylvanian city by adding over 320,000 seats, a 58% increase compared […]
The renovation and rehabilitation work on Romania's famous Constanța Casino is in its final stages, and the historic building may already host its first major event in March. The Casino is set to officially open to the public in the spring. Set for 2022, the official opening was delayed due to unforeseen problems, doubling the […]
Creating a website can often feel like a challenging task, especially for those without programming or design experience. To meet the needs of a growing market, Andrei-Fredy Crăciun created Loopple AI, a platform that allows users to build fully functional websites in less than a minute with the help of artificial intelligence – no technical […]
Romania will set up and operate its first fish farms in the Black Sea this year, as announced by environment minister Mircea Fechet, with certain areas already assigned for future farms. Investments are long overdue, as discussions about fish farms in the Black Sea have been ongoing for decades in Romania, while similar investments have […]
Monica Tamaș has been appointed general manager of Unilever Romania and Moldova beginning January 2025. She will oversee the local strategy and investment initiatives "aimed at optimizing Unilever's performance within the Home Care, Beauty and Personal Care, and Nutrition sectors across Romania and Moldova." Tamaș joined Unilever Romania in 2013, following roles in leading FMCG […]
