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.
Former US first lady Michelle Obama, the wife of Barack Obama, was in Bucharest on Thursday, September 18, to serve as the main guest at the second edition of the Impact Bucharest series of conferences. The former first lady spent about an hour in front of a large audience, speaking about her childhood in a […]
Czech president Petr Pavel spent a few days in Romania at the beginning of September while on holiday. According to statement by the Romanian Embassy in Prague, the Czech leader traveled mountain routes by motorcycle and chose modest accommodations. Pavel tried to see as much of what Romania had to offer. He planned his routes, […]
Romania is taking tangible action toward its green transition through sustainable infrastructure projects, public‑private partnerships and green bonds. Experts, government officials and business leaders have gathered today at the CES Bucharest ESG Conference, to present progress and identify solutions through which the public and private sectors can collaborate to build a sustainable and competitive economy. […]
Prime minister Ilie Bolojan announced that he will visit Brussels next week to talk to three European commissioners about deficits, defense, and EU financing. The first meeting will be with the commissioner for economy, Valdis Dombrovskis, as Romania “must adjust the issues related to deficits to be a trustworthy country, so as not to continue […]
A large majority of Romanians, namely 85%, have heard of celebrated composer George Enescu, according to the third edition of the Informat.ro – INSCOP Research Barometer conducted earlier this month. However, the survey shows a slight decline in cultural awareness compared to 2013, particularly among younger generations. The
The volume of trade between Romania and China was almost USD 9.3 billion in 2024, according to official statistics. Trade between the two, however, is not balanced. Romania registered a USD 7.7 billion deficit with China, and a USD 2.1 billion deficit in the first quarter of 2025 as well. The People’s Republic of China […]
