Seasonally adjusted gross domestic product rose by 0.4% in the euro area and the EU in the third quarter of 2024 compared with the previous three months, with Hungary, Latvia and Romania reporting the most significant declines, data released on Friday by the European Statistical Office (Eurostat) show. In Q2 2024, the economy went up by 0.2% in the euro zone and the EU.As a comparison, the US GDP went up in Q3 2024 by 0.7% as compared to the previous three months and 2.7% against the similar period of 2023.Among the EU member states, the most significant advance of economy in Q3 2024, compared to the previous three months, was registered in Ireland (3.5%), Denmark and Lithuania (both with 1.2%) and the most severe decline in Hungary (minus 0.7%), Latvia (minus 0.2%) and Romania (minus 0.1%, after an advance of 0.1% in Q2 2024).As compared to Q3 2023, between July and September 2024, GDP went up by 0.9%in the euro zone and by 1% in the EU, after an advance of 0.5% in the euro zone and 0.8% in the EU, in Q2 2024.Romania reported an annual decline of 0.3% between July and September 2024, after an annual advance of 0.8% in Q2 2024.The National Institute for Statistics (INS) revised downwards the economic growth of Romania during Q3 of this year, against the previous quarter, at -0.1% after having announced previously that it stagnated, and agains the same period of 2023 the GDP registered an increase of 1.1% gross series and a drop of 0.3% on the seasonally adjusted series, according to the temporary data published on Friday by INS.
The fund Cultura Face Bine, a national funding mechanism for cultural projects backed by private-sector financing, will begin supporting local cultural organizations in 2026. The fund aims to support grassroots cultural initiatives with a proven impact in their communities and which need resources to continue, develop, or transform their activities. The funding mechanism has been […]
The European Commission (EC) announced on Thursday, December 11, that it is referring Romania to the Court of Justice of the European Union (CJEU) for failing to meet obligations under Ambient Air Quality Directives. According to the Commission, Romania has not ensured that its national air quality monitoring network complies with legally required standards on […]
The Bucharest Court of Appeal (CAB) held an unprecedented press conference on Thursday, December 11, in response to allegations raised in a recent media investigation published by Recorder, with court president Liana Arsenie firmly rejecting the claims. However, at the start of the press event, a judge from within the institution publicly stated that the […]
Romania’s Superior Council of Magistracy (CSM) issued its first response to the Recorder documentary alleging systemic manipulation within the justice system, calling the investigation an amplification of a “campaign to destabilize judicial authority.” The council said on Thursday, December 11, that it will evaluate what measures need to be taken following the report. In a […]
MedLife, Romania’s largest private medical services network, announced on Wednesday, December 10, that it reached a market capitalization of EUR 1 billion on the Bucharest Stock Exchange (BVB). The milestone secures its position as “the most valuable healthcare company” in the country. The achievement came nine years after MedLife’s listing on BVB in December 2016, […]