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.
Romanian director Radu Jude has won the Silver Bear for Best Screenplay for Kontinental '25 at this year's Berlin International Film Festival/ Berlinale. Kontinental '25 is Jude’s third film awarded in Berlinale’s main competition, after Aferim!, which earned...
With nearly 1,300 real estate transactions in 2024, the company tripled its sales volume compared to 2023. The total value of real estate transactions reached EUR 146 million in 2024. There were 114 transactions in January 2025, double the number in January 2024. With a total of almost 1,300 real estate transactions, North Bucharest Investments […]
Forvis Mazars Group, the international audit, tax and advisory services partnership, releases today its annual CEE M&A report, prepared in association with Mergermarket. It reveals that dealmaking in the CEE region suffered a decline in overall deal value, although a marginal rise in deal volume shows the market’s underlying robustness. The Investing in CEE: Inbound […]
With a total of almost 1,300 real estate transactions, North Bucharest Investments (NBI) managed to triple its sales volume compared to 2023, and the total value of transactions reached €146 million in 2024. This amount reflects an increase of 133% compared to the previous year and consolidates the company's leading position on the real estate […]
French president Emmanuel Macron said that Russia manipulated elections in Romania and that the cancellation of last year's presidential elections did not shock him as a result of that intervention. Macron made the comments during a session of questions from users on social media regarding the situation in Ukraine. Over one hour, he...
Romania’s Ministry of Education released the latest edition of the National Metaranking, identifying the top universities in the country. The ranking has undergone minor changes compared to last year’s edition or the last independent metaranking published in the fall by academic experts. The Transilvania University of Brașov has entered the top 5 universities in Romania, […]
