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.
Romania has signed a major contract with France for the acquisition of Mistral portable short-range air defense missile systems. The agreement was concluded on Tuesday, November 25, between Romania’s Ministry of National Defense and France’s Ministry of the Armed Forces and Veterans, through their respective General Directorates for Armaments. The acquisition is valued at EUR […]
The European Parliament called on November 26 for EU-wide rules to strengthen the protection of minors online, recommending a minimum age of sixteen for accessing social networks, video-sharing platforms, and AI chatbots, according to a statement from the institution,
The government of Romania will be empowered to establish, ex officio or upon request, by Government Decision, an extended surveillance regime over local companies strongly affected by economic sanctions imposed by other states, according to the legislative project prepared by the government, given that the situation of the assets held by the Russian giant Lukoil […]
The European Commission (EC) will reportedly give Romania four more months to appoint permanent management under competitive procedures at 48 state-owned enterprises (SOEs) in the energy sector, after the Romanian government agreed to double the fine paid by the country and the penalties charged to those responsible (ministers) if the milestone set under the Resilience […]
The Romanian banks boasted in 2025 virtually the same record aggregated net profit as in 2024, namely RON 11.6 billion (EUR 2.3 billion, -0.6% y/y) in January-September and RON 6.2 billion (EUR 828 million, -0.3% y/y) in Q3 alone, according to data published by the National Bank of Romania. The non-performing loan (NPL) ratio has […]
The Romanian Parliament approved the National Defense Strategy on Wednesday, November 26, with 314 votes in favor, 43 against, and three abstentions, following a joint session attended by president Nicușor Dan. The document will guide national security policy for the 2025-2030 period. During the parliamentary debate, Ana Maria Gavrilă, leader of the opposition party POT, […]
