More than half of the inflation registered in December 2021 is attributed to the direct effects of energy prices, says Cristian Popa, Board Member of BNR (National Bank of Romania), in an article which will be published on the BNR's Opinion blog."Romania cannot afford to remain out of global tendencies without being penalized by financial markets with pressure on the exchange rate and in general by higher inflation pressures. It must be said that there are prices that cannot be controlled by BNR: such as gas prices, electricity or those administered (ticket fare or cigarettes' prices, for example), and the central bank cannot lead a war, because its instruments have very little influence, towards none, upon these prices. But it also cannot abstract from them," Cristian Popa showed, in an article "Fight against continuous inflation".He said that the bill for inflation will be paid by increasing prices for goods and services, it is mainly paid by those with fixed income which does not quickly adjust upwards, but also by those who have savings or monetary holdings, "under the mattress" or in fixed income instruments.Cristian Popa says that inflation can become destructive, if allowed to get out of control or to reach high levels, but says that the good news is that the central banks have a treatment for inflation, which is increasing interest rate, meaning making money more expensive.In his opinion, the wages-prices spiral represents a clear example of not being in touch: if the public no longer believes that the central bank will handle inflation, they will ask for salary adjustments which will include their expectations, higher, for inflation, and added that relaxed or too relaxed fiscal policies can have an inflationary character.
More than 680 houses in Suceava country and 170 houses in Neamţ county were impacted in the flash floods that hit northeastern Romania at the end of last week. Forty-one houses were completely destroyed, Raed Arafat, the head of the Department for Emergency Situations (DSU), announced on Friday, August 1. Three people were killed in […]
Romanian justice minister Radu Marinescu said on Thursday, July 31, that harsher penalties are being considered for violence against women and domestic violence, including the criminalization of femicide. The minister said that Romania currently has legislation that is fairly adequate, in line with European standards, for combating violence, including domestic violence. He also said that […]
Via Transilvanica, the long-distance trail that crosses the country, will apply to be the first accredited long-distance route in Romania after the government issued the methodological norms regulating the hiking trails of national interest. Tășuleasa Social, the non-profit that developed the trail, called the recently issued norms "a huge step that transforms a bold idea into...
Former prime minister and Social Democratic leader Marcel Ciolacu stated that he does not rule out a candidacy for the presidency of the Buzău County Council, after rumors to that end. PSD Buzău president Romeo Lungu had previously told journalists that discussions are underway for the former prime minister to run for the Buzău County […]
The Balneo-Physiotherapy Clinic in the Călimănești resort town, southern Romania, will undergo rehabilitation with a EUR 10 million financing from the European Union, according to representatives of the Vâlcea County Council. The project implementation period will be 24 months from the completion of the tender for the execution of the works, which include, in addition […]
Bringo, the first personal shopper-based rapid grocery delivery service in Romania, handling over 4,000 daily orders in more than 35 cities, launches a loyalty program that turns shopping into a continuous reward experience. "Beyond functional benefits like discounts, free delivery, or double refunds for SGR packaging collected right at your doorstep, Bringo YOU offers a […]
