CFA Romania analysts have lowered their estimate for this year's economic growth to 3 percent, down half a percentage point from their previous forecasts, while their inflationary expectations have continued to rise amid Russia's invasion of Ukraine, shows a statement issued on Tuesday by Romania's chartered financial analysts association.The average inflation rate for 2022 is seen at 8.03 percent, a record high ever since the CFA Romania survey began, while the budget deficit is expected to reach 6.7 percent.As regards the euro to RON exchange rate, the participants unanimously anticipate a depreciation of the national currency in the next 12 months, the average projection over a 6-month horizon standing at 5.0402 RON for one euro, and that over a 12-month horizon being 5.082 RON for one euro."Against the background of the risk aversion triggered by Russia's invasion of Ukraine, CFA Romania's Macroeconomic Confidence Indicator continued to decline in March. A consequence of this increased risk aversion is the reduction of economic growth expectations, which have been cut by yet another half a percentage point from the previous issue [in March 2022]. At the same time, inflationary projections have continued to rise. As regards the evolution of interest rates, the survey participants expect the National Bank to hike the key interest rate to at least 4.25 percent in the next 12 months," said vice-president of the CFA Romania Association Adrian Codirlasu.The share of respondents who believe that residential real estate prices in major cities will rise in the next 12 months dropped to 13.6 percent, the lowest level since November 2020, while 40.9 percent of the respondents see them going down, the highest share since November 2020.CFA Romania's Macroeconomic Confidence Indicator decreased to 40.9 points due to the evolution of its projection component.CFA Romania is the association of Romanian investment professionals who hold the certification of Chartered Financial Analyst (CFAŽ), a credential granted by the US-based CFA Institute. The association currently has over 250 members.
Gold has been one of the most sought-after assets for centuries, and in the modern era, it has become a highly popular component of investment portfolios. A preferred asset for protection against economic risks, gold has delivered attractive long-term returns, increasing by approximately 8% per year over the past two decades. Since the end of […]
JTI Romania is the Top Employer for the 12th year in a row, being ranked third amongst 44 companies locally awarded, after an assessment conducted by the Top Employers Institute. The company was rated for about 20 criteria such as leadership, talent acquisition, on-boarding, digital HR, work environment, career development, learning, ethics & integrity, diversity, […]
Romanian defense minister Angel Tîlvăr stated that the contract for the Patriot system, which will replace the one ceded by Romania to Ukraine, is expected to be signed in February. The minister commended the decision of the United State government to approve the delivery of three Patriot systems to Romania. Raytheon stated it will collaborate […]
Romanian companies are entering 2025 with cautious optimism, focusing on managing risks and controlling costs, according to the Deloitte 2025 Romania CFO Survey conducted at the end of last year among approximately 130 Chief Financial Officers (CFOs). Most of the Romanian CFOs predict an increase in revenues for this year (58%), but their share has […]
Several employees of the Romanian Senate began protesting and booing while the president of the upper Chamber was announcing that staff restructuring would be implemented to reduce public spending. Ilie Bolojan, president of the National Liberal Party and head of the Senate, announced a reduction in the organizational chart from 796 positions to 618 positions. […]
The members of the Romanian angel investor network TechAngels put EUR 2.757 million in direct investments in tech startups in the second half of 2024, almost triple the amount invested in the year's first half. The investments for the entire 2024 rose to EUR 3.777 million, a 25% year-on-year increase. The rounds backed by TechAngels […]
