CFA Romania analysts estimate an economic growth of 2.3pct this year, down from previous forecasts, according to a press release of the organization sent on Thursday."Against the background of the risk aversion triggered by Russia's invasion of Ukraine, as well as high inflation, the anticipation component of the CFA Romania's macroeconomic confidence indicator continued to decline in April. Moreover, inflation expectations also continued to rise, with the forecast inflation rate reaching a historic maximum of the poll. In terms of the evolution of interest rates, the participants in the survey anticipate further interest rate increases by the National Bank in the next 12 months," said Adrian Codirlasu, vice president of the CFA Romania Association.According to the same source, the macroeconomic confidence indicator of the CFA Romania association remained constant, at 40.9 points. This situation was due to the divergent development of the two components of the indicator. The anticipated inflation rate for the 12-month horizon continued to rise, reaching an average of 8.43pct, as answers were provided prior to the publication of the quarterly inflation report.Regarding the euro/leu exchange rate, more than 82pct of the participants anticipate a depreciation of the leu in the next 12 months (compared to the current value), with no appreciation opinion recorded. Thus, the average value of the estimates for the 6-month horizon is 5.0048 lei for one euro while for the 12-month horizon the average value of the anticipated exchange rate is 5.0584 lei for one euro.The organization also notes a further decline in the share of respondents who believe that residential real estate prices in major cities will increase in the next 12 months (13.0pct, the lowest level since November 2020), at the same time with the increase in the share of participants who believe that the price will decrease (47.8pct, the highest share in November 2020). At the same time, 73.9pct of survey participants consider residential property prices in major cities to be overvalued.Regarding the deficit of the state budget anticipated for 2022, the average value of anticipations increased to 6.9pct. The evolution, in real terms, of the GDP in 2022, decreased to 2.3pct compared to 5.9pct, as previously forecast.
In the context in which agri-food systems are responsible for almost one third of global greenhouse gas emissions, Auchan Romania assumes an active role in the transition of its supply chain toward a more sustainable model. At the second edition of the Climate Supplier Event, organized under the aegis of the Climate Change Summit, the […]
Janiva Magness, the winner of seven Blues Music Awards following 26 nominations, and nominated for a Grammy for a career spanning 17 albums, is set to perform at the 14th edition of the Brașov Jazz & Blues Festival, which will take place between August 14–16, 2026. Magness is one of the most valuable and influential […]
Auction house Artmark announced a major auction for this winter featuring an engraving created by Francisco Goya, the most important Spanish artist of the late 18th and early 19th centuries. Romania's late communist leader Nicolae Ceaușescu received this gift from King Juan Carlos I as a gesture of diplomacy. The engraving entitled “The Engagement – Capricho […]
Authorities managing Romania's Bicaz Gorges–Hășmaș National Park has built a fish ladder system on the Bicaz River, which will allow protected species to migrate and reproduce. There are several bridges and small bridge structures in the Bicaz River that have a “bottom sill,” meaning small waterfalls. Fish that do not jump like the trout cannot […]
The far-right opposition parties in the Romanian Parliament are set to file a motion of no confidence against the government headed by prime minister Ilie Bolojan. The motion, authored by senator Ninel Peia of the Peace – Romania First group, is specifically aimed at the reformist party Save Romania Union (USR), and is entitled “Romania […]
Romania's iconic rock singer Adrian Pleșca, known as “Artan,” died on Tuesday, December 2, after a fatal stroke, at the age of 64. The artist founded the well-known band “Timpuri Noi” in 1982 and “Partizan” in 2001, and was popular on the Romanian rock scene. Over the years, he left and returned to the two bands. Several […]
