On Thursday, the European Commission estimated that the growth rate of Romanian economy slowed down by 1.8% in 2023, 0.4% less than estimated in the fall, when the high inflation and slow credit growth affected domestic demand, while foreign demand was very low, according to winter economic provisions released on Thursday by EC. The Commission also reviewed estimates referring to the advance of Romanian economy in 2024 to 2.9% from 3.1% as foreseen in the fall of 2023. Although private consumption is expected to increase, investments will remain the main contributor to GDP increase this year. Monetary policy is expected to be a restrictive one in 2024 and will relax only gradually when inflation pressure drops. The relaxation of financial and monetary conditions, accompanied by a higher foreign demand will lead to a real GDP increase of 3.2% in 2025, somewhat less than autumn prognosis, the EC report shows. Concerning inflation, EC estimates that in 2023 it dropped to 9.7% from 12% in 2022, mainly due to the significant slowdown of private credit increase and strict monetary conditions, as well as lower energy and food prices. Except for a short period at the beginning of 2024, following some increase of indirect taxes, prices will continue to drop. Average annual inflation is foreseen to reach 5.8% in 2024 in order to slow down to 3.6% in 2025,”EC estimates, warning that there are risks of a disinflation process more gradual in case salaries and pensions continue to grow rapidly. The European Commission publishes two sets of detailed provisions every year, in the spring and autumn and two sets of intermediate provisions in winter and summer. Intermediate provisions include annual and quarterly GDP and inflation values of all member states for the on-going and future years, as well as data for the EU and euro areas.
At 24 years old, Romanian Claudiu Fusaru is the youngest T-38 instructor in the 469th Squadron of the Euro-NATO Joint Jet Pilot Training (ENJJPT), the most complex international program for training NATO fighter pilots. The pilot training program, active since 1981, brings together 14 NATO nations and trains the best fighter pilots in the world […]
The Romanian General Prosecutor’s Office and the Directorate for the Investigation of Economic Crime conducted searches at companies part of the Tinmar group on Thursday, November 6, Economedia.ro reported. The company, one of the largest energy traders in...
The Romanian government has approved a new emergency ordinance that introduces major fines for feeding wild bears, environment minister Diana Buzoianu announced on Thursday, November 6. The legislation also defines key terms such as "feeding of bears" and "habituated bear," aiming to curb practices that draw wildlife into populated areas,
The American defense technology company Allen Control Systems (or ACS) has signed a memorandum of understanding with the Romanian Armed Forces for the joint production of autonomous anti-drone turrets in Romania. ACS recently signed two contracts for the delivery of its autonomous Bullfrog turret to the armies of South Korea and the United Arab Emirates. […]
Global environmental NGO Greenpeace saluted the fact that Romania adopted a new normative act on Thursday, November 6, creating the necessary legislative framework so that citizens, municipalities, NGOs, and small enterprises can jointly produce, manage, and consume renewable energy. The framework was finally created “after nearly three years of waiting and requests from local authorities […]
Roweb, compania românească din spatele software-ului nr.1 din Belgia în Real Estate În timp ce România continuă să importe mai mult decât exportă, companii locale precum Roweb demonstrează că soluțiile digitale și inteligența artificială pot echilibra balanța și pot pune țara pe harta inovației europene. AI made in Romania: de la cod la […]
