The present situation is a very complicated one from the economic point if view, the risk for recession has increased significantly and it is possible to have a slight recession this year, says on Monday Adrian Codirlasu, chairman of the Association CFA Romania during a meeting with the press.‘In these conditions, the risk for recession I would say has increased significantly. So, it is possible to have a slight recession this year. What could change to get us a harder recession? It would be a downgrading of Romania to the non-investment-grade category. If you actually look at the economic fundamentals, like the two deficits, the current account deficit and the budget deficit, they take us out of the investment-grade category. In case we are downgraded? Yes, we can expect a severe recession, which also comes with higher interest rates and the depreciation of the leu’ explained Adrian Codirlasu.Asked when we could see clearly if Romania was going to face a recession this year, he stated that the answer could come in the first part of this year.'As numbers, when we see the first GDP figure for the first quarter. I wouldn't be surprised if it's slightly negative, because basically, until the elections, I don't think investors are going to make big steps to invest in Romania. Therefore, we could see this slightly negative development of the economy in the first half of the year, and after the elections it will matter for us to keep this rating how credible the government's fiscal policy will be. Whether it will be the same government or a new government, but the credibility of fiscal policy will be crucial. Again, what the rating agencies are saying, the fact that they are keeping us in the investment recommended rating category, is precisely the fact that they are members of the European Union and we are taking European money. So it is essential that we take European money and stick with pro-European policies. I think that a turn towards Euroscepticism will certainly lead us to a rating that is not recommended for investment', said Adrian Codirlasu. The budget for this year is built on economic growth of 2.5% and a budgetary deficit of 7% of GDP.
Estonian cinema will take center stage at the 24th edition of the Transilvania International Film Festival (TIFF) in the Focus Estonia program, presenting a curated selection featuring both recent releases and rediscovered classics, screened in restored versions. Among the films to be screened is Moonika Siimets' The Black Hole (2024), a dark sci-fi comedy inspired […]
The ITH Group, which includes the portals Vola.ro, Fru.pl, and GoVola.com and operates in Romania, Poland, and Bulgaria, announced the direct integration of LOT Polish Airlines flights into its own platforms. The collaboration strengthens the group’s position as a regional leader in flight ticket distribution, according to its press release. This will be achieved through […]
In a ruling handed down on Tuesday, May 13, the Bucharest Court of Appeal rejected a request by US authorities for the extradition of a 17-year-old Romanian student. The youth is accused of sending hundreds of bomb threats and manipulating underage girls into engaging in acts of extreme violence, sexual exploitation, and self-harm. Aside from […]
Accor, a global leader in hospitality, has announced the expansion of its presence in Romania by signing a franchise agreement with Amazonia Aquapark SRL for Novotel Timișoara. The newly built hotel is scheduled to open by the end of 2027, marking the brand's first property outside Bucharest and becoming a flagship for Novotel in Eastern […]
A survey published on Wednesday, May 14, by the Open Minds Association shows that Romanians strongly support respect and mutual support in the workplace, signaling that the business environment can play a critical role in supporting social unity. According to the first data set from the “Diversity and Inclusion Barometer,” May 2025 edition, 81% of […]
Eight of the largest business organizations active in Romania have voiced their concern over the accelerating deterioration of the business climate and the erosion of Romania’s credibility. The call is signed by AmCham Romania – American Chamber of Commerce in Romania, AOAR – Association of Romanian Businessmen, AHK – Romanian-German Chamber of Commerce and Industry, […]
