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.
The third edition of Taifas Balkan Film and Culture Festival, set to take place in Timișoara between October 13 and October 19, will include a retrospective dedicated to Romanian director Radu Jude. The public will be able to see the director's short films, in addition to a preview of his latest production, Dracula, presented at […]
Sursa International Light Art Festival, an event featuring immersive installations, projections, and light structures, will take place at the National Library of Romania from October 13 to October 19. The event brings together international and Romanian artists “in a visual dialogue about technology, architecture and sensitivity,” the organizers announced. “We wanted to build the opportunity […]
Romania’s Defense Ministry has signed a contract worth RON 50.4 million with Rheinnmetall Automecanica, a subsidiary of the German defense industry giant Rheinmetall, for the delivery of drone detection systems, Economedia.ro reported. The radar system will be delivered within 18 months at most and will reportedly be...
The former Steaua Roșie cinema in Cluj-Napoca will reopen as Edison-House of Music, a cultural hub dedicated to music and community, the organizers of the Jazz in the Park festival announced. Built in the early 1900s, the Edison building became, after World War II, the Steaua Roșie cinema. After 1989, the venue underwent several changes […]
Unprecedented amounts of precipitation have been recorded in Romania as cyclone Barbara hit the country on October 5-8, according to the authorities. At the same time, Bucharest exceeded the absolute maximum levels of rain for October. “Between October 5–8, 2025, Romania was affected by the Mediterranean cyclone Barbara, which formed over the Ionian Sea and […]
Romania is one of six European countries recently selected to develop a new artificial intelligence and supercomputing center under the EuroHPC – AI Factories program. The project, known as the AI Factory, will be Romania’s first national AI infrastructure, marking a major step toward strengthening its digital and research capabilities. The initiative will be led […]
