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.
An investment of over RON 1.26 billion, approximately EUR 254 million, is set to be made in the Port of Constanța, to increase maritime transport capacity and the volume of commercial exchanges. The funds will be used for the construction of a quay and the development of a port area covering 550,000 square meters. The […]
The Bucharest Tribunal has approved the National Anticorruption Directorate’s (DNA) request for the preventive detention of Vlad Oprea, the mayor of the popular mountain town of Sinaia, following alleged violations of judicial control restrictions imposed on him in the case in which he faces several charges of corruption, news agency
The cancellation of the elections in Romania in November 2024 was taken into account when the Trump administration excluded Romania from the Visa Waiver program, according to an internal note from the National Security Council obtained by Politico...
Increasingly invoked in the public space, the right to freedom of expression risks being applied indiscriminately, to the detriment of other fundamental rights such as the right to privacy and the protection of personal data. In a legal analysis covering both European and national law, attorney Razvan Popescu highlights the risks of excessive interpretation of […]
STIRIXIS Group, the internationally awarded Greek Design & Consulting firm with over 850 projects in 29 countries, has designed and delivered the new, cutting-edge entertainment hub for Village Cinemas at The Mall Athens. The newly designed reception and support areas – including the foyer, the gaming zone, the Village Center retail shop, and the ticketing […]
Romgaz, Romania’s largest natural gas producer, has initiated legal proceedings seeking the dissolution of Greenpeace CEE Romania, citing insolvency and alleged misuse of the organization’s structure to avoid financial accountability, energy minister Sebastian Burduja announced. The lawsuit was filed through Romgaz’s subsidiary involved in the Neptun Deep offshore gas project and registered at the Bucharest […]
