The significant slowdown in the economy has to be put down to the effects of inflation, the falling purchasing power of the population and the major problems faced by more and more companies, amid falling sales, from financial bottlenecks to a drop in supplier credit, said economic consultant Adrian Negrescu. According to the data published on Thursday by the National Institute for Statistics (INS), the GDP was not changed in Q3 of this year, as compared to the previous quarter, for a seasonally adjusted series, while against the same quarter of 2023 GDP dropped by 0.2%."The economy is operating with the handbrake on. Statistical data confirms that we are witnessing real economic stagnation, with many sectors where sales are falling significantly and the number of companies closing is increasing by the day. The significant slowdown in the economy has to be put down to the effects of inflation, the falling purchasing power of the population and the major problems that more and more companies are facing, amid falling sales, from financial bottlenecks to a drop in supplier credit," said Mr Negrescu. He said that, unfortunately, the industrial production has been dropping for months, the constructions register the highest drop since the previous crisis, agriculture is very much affected by the drought and commerce gives the first signs of dropping due to the reduction of purchasing power."Even the IT&C sector is no longer making a positive contribution to GDP, the economy is gasping for breath, and the outlook for 2025 does not look good. It's a paradox what is happening in Romania - we have borrowed almost €50bn, the deficit will pass €27bn, we have allocated more money for investment and yet the economy is heading for recession. It's a sign that the situation is not positive at all and that measures need to be taken", added the economic consultant. According to him, it is ‘absolutely vital to drop the work taxes, in order to leave more money in the people’s pockets’. He said that ‘ we will not be able to restart the economy unless we take measures meant to support private investments, recruitment and increase of salaries’.
The 2025 edition of the year’s first major film fest in Europe (and one of the biggest worldwide), the Berlin International Film Festival, took place between 13 and 23 February. My notes come with a bit of delay, as I was also hit by the festival flu that got so many of us sniffling and […]
In the absence of current negative influences, Romania’s economy could have an annual growth potential of 3-4%. Political instability and global geopolitical risks are dampening growth. Economic growth in 2024 was driven by wage increases and accelerating consumption, satisfied however largely through imports. Due to a decline in domestic economic competitiveness, net exports contributed negatively […]
The Bucharest Stock Exchange (BVB) announced on Thursday, March 13, the launch of a new financial education section on the BVB Research Hub platform, dedicated to retail investors. The capital market operator said that it started this project out of the need to increase the level of financial education and promote the investment culture. It […]
The Romanian governing coalition's presidential candidate, Crin Antonescu, announced on Thursday, March 13, that he is launching a podcast designed to popularize his candidacy before the May elections. Antonescu, who is backed by the alliance made up of the Liberals (PNL), Social Democrats (PSD), the Democratic Alliance of Hungarians (UDMR), and the minorities, stated that he will […]
Some 4,500 teachers will learn about rights and responsibilities online, accessibility, inclusion, online well-being, and ethics as part of Incubatorul Civic Digital (ICD - The Civic Digital Incubator), a digital citizenship and democratic culture project implemented by Institutul Intercultural Timișoara, Asociația TechSoup and Școala de Valori. The project, which offers free training, is aimed at […]
Mihaela Murariu, Attorney at Law at Grecu Partners Business Law Firm, analyzes the impact of Artificial Intelligence on personal data protection. Artificial intelligence (AI) has become a ubiquitous technology, used in more and more fields, from marketing and healthcare to recruitment and financial services. However, the widespread use of AI raises numerous questions about privacy […]
