The economy of the euro zone and that of the European Union registered a slight growth in Q4 2024 as compared to Q3 but the Romanian economy had a double growth against the average in the EU, according to the data revised publicly on Friday by Eurostat.According to the data, the GDP of the 20 countries which have switched to the single currency registered an advance o 0.2% during October –December 2024, as compared to the previous quarter, against the growth of 0.1% initially announced by Eurostat. The European office revised the data regarding the European Union, whose economy registered an advance of 0.4% in Q4 compared to the previous quarter, double against the growth of 0.2% initially announced.Among Member States, the strongest GDP growth rates were in Ireland (3.6%), Denmark (1.6%) and Portugal (1.5%). For Romania, Eurostat data show that GDP grew by 0.8% in the fourth quarter of 2024, compared with the previous quarter. This after Romania's GDP grew by 0.1% in the third quarter compared with the second quarter. In exchange, annually, Q4 2024 as compared to Q3 2023 the economic performance of Romania, growth of 0.7% is inferior to that in the euro zone economy of 1.2% and EU – 1.4%.Over 2024 as a whole, Gross Domestic Product grew by 0.9% in the euro area and by 1% in the EU, after a 0.4% advance in both areas in 2023. Separately, Eurostat on Friday released figures on employment developments in the fourth quarter. According to the data, the number of people in employment rose by 0.1% in the euro area and by 0.2% in the EU in the fourth quarter compared with the previous quarter, while Romania was the country with the strongest quarter-on-quarter increase in the employment rate, with a 2% advance. Eurostat estimates that in the last quarter of last year, 219.7 million people were employed in the European Union, including 171.2 million in the euro area.
Romania’s prime minister Ilie Bolojan reportedly opposes the idea of further prolonging the price-capping mechanism introduced in August 2023 and repeatedly extended so far, according to Ziarul Financiar. Ambiguous statements over the weekend indicated an incipient conflict among the ruling coalition’s...
Several thousand civil servants rallied in Bucharest on September 15 to oppose government reform plans that would reduce public administration staff, Radio Romania Actualități reported. Protesters gathered in Victoriei Square before marching to the Palace of Parliament,...
A memorandum establishing a new stock exchange in the Republic of Moldova was signed on September 15 in Chișinău, with the Bucharest Stock Exchange (BVB) set to play a key role as shareholder and technology partner, according to Bursa.ro. The new Moldovan exchange will run...
The “service pensions”, also known as special pensions, paid to civilians (military not included in the report), cost the state budget and the state social insurance budget a total of RON 2.2 billion in 2024, over 22% more than in 2023,
The Czech company Tesla has officially announced to the government and local authorities that it is abandoning the project to build the energy storage factory in Brăila, an investment of EUR 90 million that was also to receive state aid, according to
Romanian households' purchasing power has deteriorated in July, both as a result of slower nominal advance (+5.2% y/y, the weakest in four years) but also because of a sharp rise in inflation (7.68% y/y) following the VAT rate hike, according to data published by the statistics office INS. The average net wage dropped by 3.0% […]
