The 4% economic growth in 2016 could be a peak which will go down to 3.5% in 2017, considering the lack of investments, public ones in particular, while increase based on consumption alone is not sustainable on a long run, according to Ionut Dumitru, the president of the Fiscal Council. “We expect a 3.7% economic growth this year an 4% next year. I consider that next year is a special one. We have a strong manifestation of fiscal stimuli, with the VAT reduction from 24% to 20%, Dumitru said at a press conference. He does not consider the 4% increase will repeat in the following years, because of the lack of investments and an economic growth potential which has not improved. “For instance, the National Prognosis Commission sees an economic growth leading to 5% in the next years and GDP increase of over 4% at a certain moment. I think this is not plausible because we did not have investments. There has not been a country growing on consumption alone,” Dumitru said. He considers that, in the absence of investments, especially public ones, the year 2016 may be a peak of economic growth which will go down to 3.5% in 2017. “The message is that 4% economic growth is already too much for the present economic context,” Dumitru said.
Homedit, a Romanian brand of premium furniture and home décor, announces the official opening of its first showroom, located in an interwar house in central Bucharest ("The Bamboo House”, located at No.3, Dumbrava Roșie St.). With a total investment of approximately EUR 12 million, the business was founded in 2016 as an online store by […]
The 32nd edition of the Sibiu International Theatre Festival (FITS) begins on Friday, June 20, bringing over 5,000 artists from 82 countries to the city. The events will take place over ten days and will transform the city into an "open-air stage, with large-scale productions, impressive installations, parades, fire shows, live music, aerial dances, and […]
The well-known science and nature channel Discovery is currently marking four decades since its global launch in 1985 with a special series titled "Discovery Changed My Life,” bringing testimonies from personalities whose vision was shaped by Discovery. Among those featured is also Romanian mountaineer and conservationist Alex Găvan. The series premieres on Sunday, June 22, […]
Meta Estate Trust (MET), a holding company operating in the real estate sector, has invested approximately EUR 2 million in a new retail park currently under development in Ciolpani, a commune located on the Bucharest–Ploiești corridor (DN1), it said. The project is scheduled to be completed and handed over to tenants this year, with an […]
Romania benefits from a series of favorable factors that facilitate the growth and expansion of data center capacity and could emerge as a developing market, according to an analysis conducted by the real estate consultancy company Cushman & Wakefield Echinox. A diversified energy mix, with over 50% of energy production coming from renewable sources, along […]
The German company DEHN, a manufacturer of electrical engineering solutions for critical infrastructure, including lightning and surge protection, as well as safety equipment, will open a production site in Piteşti, southern Romania. The facility, the company's first in the country, will expand its capacities to serve customers in Europe. It fits seamlessly into the company's […]
