Experts of Romania's chartered financial analysts association CFA Romania put their budget deficit estimates at 7 percent of GDP in 2021 and 5.7 percent in 2022, projecting also an inflation rate of 6.06 percent over a 12-month horizon and a public debt expansion to 52.5 percent of GDP, the organization said in a release on Wednesday.Additional questions regarding the impact of the coronavirus crisis on the national economy (the duration of the pandemic's economic impact, the GDP and budget deficit evolution) have been included in the survey conducted by CFA Romania.Thus, the average projection for the 2021 state budget deficit is 7 percent, and 5.7 percent for 2022. The average projection for the nominal GDP growth in 2021 is +6.6 percent, and 4.3 percent for 2022. Also, the public debt (as percentage of GDP) is seen at about 52.5 percent over a 12-month horizon.The majority of survey participants, 36 percent, predict the coronavirus economic impact to last until at least the second quarter of 2023."Amid the substantial increase of the inflation rate, inflation expectations for a 12-month horizon continued to rise, reaching a new all-time high (of the CFA Romania Association survey). Moreover, the high dispersion of the responses is indicative of the high uncertainty regarding the evolution of inflation next year. In line with inflationary expectations and the central bank's monetary policy measures, expectations of an increase in interest rates on both the money market and for government securities have also increased," said vice president of the CFA Romania Association Adrian Codirlasu.CFA Romania's Macroeconomic Confidence Indicator increased slightly to 57.6 points (compared to the same month of the previous year the increase was of 7.2 points) due to the divergent evolution of the two components of the indicator. The anticipated inflation rate for the 12-month horizon continued to go up, averaging at 6.06 percent.Regarding the euro to RON exchange rate, all survey participants (100 percent) predict a depreciation of the RON in the next 12 months (from the current value). Thus, the average 6-month projection for the exchange rate is 5.0284, while the average exchange rate expected over a 12-month horizon is 5.0859 RON for one euro. The lowest estimated euro to RON exchange rate is 4.9700.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. CFA Romania is one of the over 160 CFA Institute members, and has the mission to promote the interests of investment experts and maintain high standards of integrity and professional excellence. The association currently has over 250 members.
Participation in cultural education activities continues to be limited, with the main barriers being difficult access, insufficient knowledge, and cost, the recently released Cultural Consumption Barometer 2024 shows. The report showed that many Romanians still associate culture with entertainment rather than with personal development or furthering their knowledge. The need for relaxation dominates in cultural […]
Roughly 84% of Romanians say that the pace of the state’s digitalization is slow or very slow, according to an Edge Institute & AtlasIntel study presented at the Digital Governance Summit 2025, which took place on Tuesday, November 25, at the presidential palace in Bucharest. The survey aims to capture the way citizens relate to […]
Romania’s Superior Council of Magistracy (CSM) issued a negative opinion on the new bill regarding magistrates’ pensions. The move is only the latest development concerning a heated issue that led to tensions between the executive and the judiciary branch. CSM’s opinion is consultative, and the government led by Ilie Bolojan can still take responsibility for […]
Romania took the presidency of the Central European Initiative (or CEI) on Wednesday, November 26, according to a press release from the Ministry of Foreign Affairs (MAE). The organization is a regional intergovernmental forum established in 1989, following the fall of the Berlin Wall. It gathers 17 Member States in Central, Eastern, and South-Eastern Europe […]
Trade between Romania and Poland continues to grow, with annual bilateral exchanges in goods now valued at more than EUR 12 billion, according to figures presented by the Polish-Romanian Bilateral Chamber of Commerce and Industry (PRBCC). The data was released during a reception in Bucharest marking Poland’s Independence Day and Romania’s National Day. Polish investments […]
As Romania moves closer to implementing the EU Pay Transparency Directive, local employers are preparing for one of the most consequential shifts in workplace regulation in over a decade. The directive, set for transposition by June 2026, introduces strict new rules on salary disclosure, pay reporting, and equal-pay verification, aiming to close persistent gender gaps […]
