Although there has been some discussion about reducing VAT rate, a decrease is unlikely given the expected economic and budgetary context in 2013. KPMG International has recently published the direct and indirect (VAT, etc) tax rates from more than 120 countries, including Romania, revealing a constant state of change as governments look to increase indirect [...]
Romania’s current account (CA) deficit has widened by 26% y/y to EUR 26.3 billion in 12 months to September 2024, according to data published by the National Bank of Romania (BNR). It was a new record after the costly energy imports pushed up the CA gap in 2022 after the onset of the war in Ukraine. […]
The industrial output index in Romania contracted by 2.5% y/y, and the rate was slightly steeper (-2.6% y/y) in the manufacturing segment in the third quarter of the year (Q3), according to data published by the statistics office INS. The seasonally-adjusted index diminished by 2.0% q/q (-2.7% q/q in the manufacturing segment) after the relatively […]
The season of Christmas markets and fairs kicks off this week in Sibiu, Craiova, and in Bucharest, while an exhibition on Caravaggio's influence opens in Timișoara.
Electrical cable manufacturer ELECTROPLAST is carrying out an investment project estimated at over EUR 9 million for modernizing the production unit and expanding its facilities. This investment project will triple production capacity and lead to reduced electricity consumption and carbon footprint. ELECTROPLAST is participating in the modernization of Romania's railway infrastructure. The company recently contracted...
Following an investment of EUR 2.5 million in the renovation and refurbishment of a historic building in the Rosetti Square area in downtown Bucharest, the InStil Hotels group, owned by the Alecu family, is diversifying its portfolio with a new 4-star boutique hotel property. Named Ecletico Villa, the property offers 18 rooms. The new boutique […]
The rising labor costs, the recruitment process, and the retention of experienced employees are the main challenges for business services companies active in the country, according to the 2024 report of the Association of Business Service Leaders in Romania (ABSL). According to ABSL data, all companies reported salary increases this year, and the estimated growth […]
