The National Prognosis Commission (CNP) has revised up to 3.6 percent the projection on the Gross Domestic Product (GDP)'s growth for this year and maintained to 4.1 percent its estimate on the economic growth in 2016, according to the fall's variant of average term prognosis 2015 - 2019. In the preliminary fall variant, published in September, the institution was forecasting an increase of the GDP by 3.4 percent for 2015 and of 4.1 percent for 2016. This spring, the CNP prognoses were indicating an economic growth of 3.3 percent for 2015 and 3.4 percent for 2016. The nominal GDP is estimated at 704.5 billion lei in 2015 and at 746.6 billion lei in 2016. The most significant contribution to the GDP's real increment this year will be given by the services (2.2 percent), followed by the industry (0.7 percent). The domestic demand will be up by 4.6 percent, in 2015, as against 2.6 percent in 2014, and for 2016 a growth by 4.7 percent is estimated. The gross fixed capital formation (investments) is expected to go up by 7.6 percent this year and by up 6.2 percent in 2016, similar to September estimates. The economic growth will stay put in the next years, for 2017 being estimated a GDP advance of 4.2 percent, in 2018 - 4.5 percent, and in 2019 - 4.7 percent. The state budget for the next year is based on a 4.1pct economic growth, according to data by the Public Finances Ministry as presented on November 18. The DGP is estimated at 746.6 billion lei. In 2014, the Romanian economy has increased by 2.8 percent.
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 […]
