The European Bank for Reconstruction and Development (EBRD) worsened the estimates regarding the evolution of the Romanian economy in 2023 and 2024, according to a report published on Wednesday by the international financial institution. According to the latest forecasts of the EBRD, Romania’s GDP should register an advance of 1.8% this year, after the May forecast indicated an expansion of 2.5% in 2023. Growth should accelerate to 3 .2% next year, compared to a level of 3.5% estimated in May, the report states. The EBRD expects the economy to grow by 2.4% in 2023 and 3.2% in 2024 in its region of activity The European Bank for Reconstruction and Development (EBRD) expects the advance of the economy in its region of activity – which covers about 40 economies – to be 2.4% in 2023 and 3.2% in 2024. Gas consumption in emerging Europe fell by more than 20% in the winter of 2022/2023, after reduced supplies from Russia pushed up energy prices. But even if the price of gas in Europe has returned to the level of the beginning of 2021, it remains almost four times higher than the price of gas in the US, according to the EBRD report published on Wednesday. “Countries are on a disinflationary trend, but it will take longer until they return to their inflation targets,” Beata Javorcik, EBRD’s chief economist, told Reuters. European industry has reduced activity in gas-intensive sectors such as construction materials, chemicals, metals and paper, while increasing activity in sectors with less CO2-intensive production. carbon, such as electrical equipment, car manufacturing and medicine production.
Interim president Ilie Bolojan said on Monday, May 12, that he would vote for independent candidate Nicușor Dan in the second round of Romania’s presidential election. Dan, the current mayor of Bucharest, runs against George Simion, the leader of the far-right party AUR, in the election scheduled for May 18. In an interview with
Romania aims to strengthen its defense industry by manufacturing drones and purchasing military vehicles from Germany’s prime arms manufacturing company Rheinmetall, taking advantage of the EU’s EUR 800 billion defense budget. The Romanian Ministry of Economy announced that drones, explosives, and ammunition to NATO standards will be produced in the country. The drones will be […]
A new survey conducted between the two rounds of Romania’s presidential elections shows that trust in democratic institutions is at a historic low, despite continued civic participation. The “Unfinished Democracy” poll, carried out by AtlasIntel in partnership with the Eidos Foundation and Politică la Minut, reveals widespread dissatisfaction with how democracy functions in Romania. Only […]
Constanța’s historic Casino will reopen to the public between May 21 and 25 as part of the Constanța Days events. The building, which has undergone extensive restoration in recent years, will be accessible to visitors for the first time since the start of renovation works. Constanța City Hall announced a special program for the occasion, […]
Real estate investor-developer Hagag Development Europe said it is entering the hospitality market in Romania with its first hotel project in Bucharest, developed in partnership with Radisson Hotel Group. The future hotel, Radisson RED Bucharest Old Town, will be the first Radisson RED in the country. The project involves a EUR 13 million investment and […]
The prosecutors investigating the theft of the Dacian gold treasure from the Drents museum in Assen, Netherlands, believe that the items were not melted down but hidden by the arrestees. The Dutch Public Prosecutor's...
