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’.
Participation in cultural education activities continues to be limited, with the main barriers being difficult access, insufficient knowledge, and cost, the recently released Cultural Consumption Barometer 2024 shows. The report showed that many Romanians still associate culture with entertainment rather than with personal development or furthering their knowledge. The need for relaxation dominates in cultural […]
Roughly 84% of Romanians say that the pace of the state’s digitalization is slow or very slow, according to an Edge Institute & AtlasIntel study presented at the Digital Governance Summit 2025, which took place on Tuesday, November 25, at the presidential palace in Bucharest. The survey aims to capture the way citizens relate to […]
Romania’s Superior Council of Magistracy (CSM) issued a negative opinion on the new bill regarding magistrates’ pensions. The move is only the latest development concerning a heated issue that led to tensions between the executive and the judiciary branch. CSM’s opinion is consultative, and the government led by Ilie Bolojan can still take responsibility for […]
Romania took the presidency of the Central European Initiative (or CEI) on Wednesday, November 26, according to a press release from the Ministry of Foreign Affairs (MAE). The organization is a regional intergovernmental forum established in 1989, following the fall of the Berlin Wall. It gathers 17 Member States in Central, Eastern, and South-Eastern Europe […]
Trade between Romania and Poland continues to grow, with annual bilateral exchanges in goods now valued at more than EUR 12 billion, according to figures presented by the Polish-Romanian Bilateral Chamber of Commerce and Industry (PRBCC). The data was released during a reception in Bucharest marking Poland’s Independence Day and Romania’s National Day. Polish investments […]
As Romania moves closer to implementing the EU Pay Transparency Directive, local employers are preparing for one of the most consequential shifts in workplace regulation in over a decade. The directive, set for transposition by June 2026, introduces strict new rules on salary disclosure, pay reporting, and equal-pay verification, aiming to close persistent gender gaps […]
