GDP remained stable, both in EU and in the euro zone, in quarter 3, 2023, compared to the same period of 2022, after an advance of 0.5% in EU and 0.6% in the euro zone, in the period April- June 2023, according to the data released on Thursday by Eurostat. Among EU member states, the most significant advance was recorded in Malta (7.1%), Croatia (3%) and Romania (2.9%), in quarter 3, 2023, compared to the same period of 2022. The most significant decline was in Ireland ( minus 5.4%) nd Estonia (minus 4%). US GDP went up by 1.3% in quarter 3, 202, compared to the previous 3 months and by 3% annually. Eurostat data show that EU economy remained stable and that in the euro zone dropped by 0.1% in 2023, compared to the previous 3 months, when an increase of 0.1% was recorded both in EU and in the euro zone. Among EU member states, the most significant annual advance over July- September 2023 was recorded in Malta (2.4%), Poland (1.5%), Cyprus (1.1%), Romania and Hungaru ( both with 0.9%), while the most significant decline was in Ireland (minus 1.9%), Estonia (minus 1.3%) and Finland (minus 0.9%).
The Ministry of Development proposed to the government to analyse the opportunity to develop an investment program dedicated to the economic recovery of small towns with a population of under 25,000 in non-metropolitan areas. The financial support for the development of these towns has been so far fragmented, and competition with large cities for funds proved […]
Prime minister Ilie Bolojan said on November 6 that he hopes that the ruling coalition will manage to legislate by the end of this month the rest of the second package of budgetary measures, namely the public administration streamlining law and the law on magistrates' pensions. Unless the law on the public administration is legislated, […]
Japanese group Makita announced that it will reduce production of power tools in China for the US market due to the unpredictability of US tariffs and move this production to factories in Romania and Thailand, according to Nikkei Asia, as reported by Economica.net. The Japanese group reported business of almost EUR 640 million locally...
The Competition Council has outlined a series of concerns related to the transaction through which the Schwarz group, which operates the Kaufland and Lidl store chains in Romania, intends to take over the La Cocoș stores, according to a press release quoted by
Romania’s flag carrier, Tarom, has requested the government to disburse a new tranche of restructuring state aid approved in 2024 to address the current liquidity deficit, Profit.ro reported. The company argued that, because of late payment penalties...
Retail sales volume contracted by 2.3% q/q in Q3, resulting in a 0.3% y/y decline in Romania (the second negative reading since the Covid-19 pandemic), visibly dragged down by the real wages that contracted by 3.7% y/y in July-August (latest data available) after +2.2% y/y in Q2, +4.6% y/y in Q1 and around 9%-10% y/y […]
