The Macroeconomic Confidence Indicator produced by the CFA Romania Association fell slightly in September, by 0.5 points, to 47.4 points.According to a press release issued by CFR Romania on Thursday, this situation was the effect of the decrease in the current conditions component. The anticipated inflation rate for the 12-month horizon decreased compared to the previous year and stood at an average of 6.86 percent."The slowdown in economic growth and the new tax measures were also reflected in the current conditions component of the confidence indicator, which fell by 6.6 points from the previous year. Also, the conduct of fiscal policy was reflected in the budget deficit expectations for the current year, with the anticipated deficit for this year recording the highest value since the beginning of the year," said Adrian Codirlasu, Vice President of CFA Romania.As for the exchange rate EURO (EUR) to Romanian leu (RON), over 84 percent of the participants anticipate a depreciation of the RON in the next 12 months. No opinion envisaging its appreciation was registered. Thus, the average value of expectations for the 6-month horizon is 5.0169 RON for one EUR, while for the 12-month horizon the average value of the anticipated exchange rate is 5.0607 RON for one EUR.As regards the evolution of residential property prices in the cities, 53 percent of the participants anticipate a decrease in prices, while 42 percent say that the prices of residential property will decrease in the next 12 months.Also, 73 percent of participants believe that current prices are overpriced and 21 percent that they are correctly priced.According to the cited source, the average value of the state budget deficit expectations for this year is 5.8 percent. For the year 2023, the anticipated value of real GDP growth is 2.2 percent.Public debt as a percentage of GDP is expected to increase to 54 percent in the next 12 months.
Two castles in Romania's Cluj county, namely the Rákóczi-Bánffy Castle in Gilău and Bánffy Castle in Răscruci, will reopen in the coming weeks and host events dedicated to visitors. Rákóczi-Bánffy Castle in Gilău, one of Transylvania's historical monuments, will reopen its doors after a seven-year renovation process aimed at transforming it into a multifunctional cultural […]
The second edition of the Chicago Romanian Community Summit will take place on May 25, aiming to unite the Romanian community in Chicago. Leaders from various sectors - business, education, culture, and religion - will come together during the event to celebrate their shared heritage and establish a forum for addressing challenges. The summit also […]
In a recent promotional spot, Nicola Coughlan, Claudia Jessie, and Hannah Dodd, all part of the cast for Netflix’s hit show Bridgerton, played a game of True or False, Romanian Romance Edition. The game consisted of saying whether or not a particular superstition was actually true in Romanian folklore or if it was made up. The first […]
The organizers of the Untold and Neversea festivals in Romania announced the start of the 10th edition of their blood donation campaign - Blood Network. Under this initiative, blood donors can get free one-day tickets for the two summer events. This year's Blood Network runs between May 18 and June 30. Music fans can donate […]
Romanian mountaineer Adrian Ahriţculesei reached the summit of Mount Everest, Earth's highest mountain above sea level, after a 12-hour climb. The expedition, which started on April 11, is scheduled to end on May 30. "Ahriţculesei Adrian conquered the Roof of the World. He is on Everest (8,848 m). Next comes the hardest part of this […]
Hesburger, the largest chain of fast food restaurants in Finland and the Baltic countries, has entered the Romanian market with a first restaurant in Râmnicu Vâlcea. A family business with a history of over 50 years, Hesburger currently operates in nine countries and has over 470 restaurants. The company aims to open 10 new locations […]
