In Q4 2023, seasonally adjusted GDP remained stable in both the euro area and the EU, compared with the previous quarter, with Romania ranking among the member countries with the strongest quarterly economic contractions, according to an estimate published on Friday by Eurostat, the statistical office of the European Union.Denmark (+2.0%) recorded the highest increase of GDP compared to the previous quarter, followed by Croatia (+1.3%) and Slovenia (+1.1%). The highest decreases were reported in Ireland (-3.4%), followed by Estonia, Finland (both -0.7%) and Romania (-0.5%).In Romania's case, the contraction of 0.5% in Q4 2023 comes after an advance of 1% in Q3, as well as an advance of 1.4% in Q2.Compared with the same quarter of the previous year, seasonally adjusted GDP increased by 0.1% in the euro area and by 0.2% in the EU in Q4 2023, after +0.1% in both zones in the previous quarter.Romania's economy grew by 1.1% at an annual pace in the last three months of 2023, a significant slowdown after a 3.5% advance recorded in Q3.Also on Friday, Eurostat announced that the number of employed persons increased by 0.3% in the euro area and by 0.2% in the EU in Q4 2023, compared with the previous quarter. In Q3 2023, employment had increased by 0.2% in both zones.In Q4 2023, Romania (+1.5%), Malta (+1.4%) and Spain (+0.8%) recorded the highest growth of employment in persons compared with the previous quarter.Based on seasonally adjusted figures, Eurostat estimates that in Q4 2023, 217.1 million people were employed in the EU, of which 169.3 million were in the euro area.As for Romania, the National Institute of Statistics (INS) revised upwards the economic growth in 2023, to 2.1%, and downwards that of Q4 2023, to minus 0.5%. Thus, the Gross Domestic Product (GDP), seasonally adjusted, estimated for Q4 2023, was RON 415.906 billion in current prices, decreasing - in real terms - by 0.5% compared to Q3 2023, and up by 1.1% from Q4 2022.At the level of 2023 current prices, the estimated Gross Domestic Product was RON 1,598.576 billion, up 2.1% from the previous year.
Romania will join the Schengen Area with its land borders starting January 1, 2025, according to Romanian prime minister and Social Democrat (PSD) leader Marcel Ciolacu, who was on a visit to Brussels on Monday, November 18. The Romanian PM said during an interview that the decision regarding Romania’s accession with land borders will be […]
Exorigo-Upos, the Polish company that provides IT technology solutions for the retail sector, is preparing to take its presence in Romania to the next level by establishing an innovation hub in Bucharest. The new center will focus on developing and testing cutting-edge technologies tailored to the Romanian market, in line with the company’s long-term strategic […]
Eva and Victor, ages 16 and 17, respectively, will advocate for climate action as members of Romania's delegation at the United Nations Conference on Climate Change – COP29, held in November 2024 in Baku, Azerbaijan. The two teenagers also have clear roles in the conference. Victor, for example, will co-moderate the Climate Youth Forum, where […]
Natural gas producer Romgaz (SNG), a company in which the majority stakeholder is the Romanian state, listed on Tuesday, November 19, its first corporate bonds amounting to EUR 500 million on the Bucharest Stock Exchange. The bonds, also listed on the Luxembourg Stock Exchange since the beginning of October 2024, are part of a tranche […]
The Bucharest Court of Appeal ruled on Tuesday, November 19, to return the case involving Andrew and Tristan Tate to prosecutors at DIICOT, citing several irregularities. The judges also decided to remove several pieces of evidence and statements from the file, according to
Program empowers women in Romania to step into management or advisory board roles Offering actionable advice for women in businesses seeking strong governance Supporting EU gender diversity targets with inclusive leadership programs The European Bank for Reconstruction and Development (EBRD) celebrates Women’s Entrepreneurship Day on 19 November 2024 by highlighting the EBRD Women on Boards […]
