Austrian banking group Erste said that Romania’s inflation is expected to reach 4.3% by the end of 2023, in line with its previous forecast. Romania's consumer prices rose by 7.4% in January, accelerating from a 6.61% increase in December and marginally surpassing Erste's estimate of 7.34%, the banking group said in an updated research report on Wednesday. The forecast error regarding the inflation rate in January was due to costlier water and sewerage services. However, core inflation declined by 0.2 percentage points (pp) to 8.2% year-on-yearin January, in line with Erste's forecast. The share of food products in the January consumer basket rose by nearly 0.7 pp, while non-food items and services saw their shares diminish by approximately 0.5 and 0.1 percentage points, respectively. Fuel and non-oil energy items represented 18.2% of the consumer basket, up from 16.3% previously. On Wednesday, Romania's central bank decided to keep its monetary policy rate unchanged at 7%, as anticipated by Erste in January. Erste said they stick to its call for the first rate cut in May, and expect the key rate to ease to 5.75% by the end of the year.
Two Romanians were arrested during Sunday night, May 11, after robbing empty houses in the evacuated mountain village of Brienz located in the Swiss canton of Graubünden. The village had been evacuated since November due to rock falls. The locality was, however, monitored by the authorities to prevent break-ins. The would-be thieves apparently tried to […]
The European Bank for Reconstruction and Development, or EBRD, has revised its estimates regarding the evolution of the Romanian economy in 2025 downward to 1.6%. The bank expects Romania’s GDP to grow 0.2% less than the 1.8% estimate made in February, and to increase by 2.4% in 2026. Romania's GDP growth slowed to 0.8% in […]
During a meeting on Monday, May 12, the Cluj-Napoca Local Council approved a draft resolution that imposes smoking restrictions in several public spaces in the city, including public transport stations, parks, and sports facilities. The resolution was adopted with 22 votes in favor and 3 abstentions, and will come into effect 90 days from the […]
An internal survey by Romanian Business Leaders, which does not have national representativeness but was answered by 417 entrepreneurs, shows that 62% of entrepreneurs expect to have to make layoffs, while a third expect the number of employees to remain the same. The expected layoffs are directly connected to the possibility of Romania choosing a […]
Romanian Istvan Kovacs will be the main referee for the UEFA Champions League final between Paris St-Germain and Inter Milan, which will be played on May 31 in Munich. The match will be Kovacs’ third European final in the last 4 years. The 40-year-old referee has previously officiated the UEFA Europa Conference League final in […]
Over 70 museums across Romania will open their doors after hours for the 21st edition of Night of Museums, one of the country's most anticipated cultural events. Held on the night of May 17, the event offers visitors a unique opportunity to explore exhibitions, installations, and creative activities in an unconventional, late-night setting. From major […]
