The Romanians bought food with the largest part of the money coming from the VAT reduction for food, the rest of the sums being directed to non-food products, other expenditure or savings, according to the research company of the market GfK. ‘From the whole sum which the Romanians could have saved following the smaller prices, 76% was reintroduced in the purchasing cycle. More exactly: more than half of the sum was directed to food and non-alcoholic drinks, 17% to the non-food – personal care and house care; the rest of the sum was kept in the pocket, either for other expenditure or for saving’ the company shows, in a press release. The purchasing behaviour modified against the moment of the first impact of the drop in prices. Thus, in June-July although approximately 70% of the total sum came to FMCG the share between food and non-food was approximately equal. ‘The GfKstudy shows that products of personal care are in attention, the trend to buy products from a superior price segment. In the meanwhile, this phenomenon was diminished, the money coming back to the food products’ the company says. The VAT quota for food was reduced on 1 June from 24%to 9%.
Romania is currently preparing state aid schemes for companies affected by the customs tariffs announced by president Donald Trump on Wednesday, April 2, according to statements made by prime minister Marcel Ciolacu. The US imposed tariffs on all countries worldwide, with a "minimum base tariff" of 10%, starting April 5. However, for some countries, the […]
Impact Hub Bucharest, in partnership with EIT Food, has opened the applications for Empowering Women in Agrifood (EWA), an EIT Food acceleration program dedicated to female entrepreneurs and their projects in the agri-food sector. Ten female entrepreneurs from the agri-food sector will benefit from mentoring, training sessions and ongoing support, access to an international community […]
The United States Embassy in Bucharest has announced an update to visa requirements for Romanian citizens wishing to travel to the US, following president Donald Trump's decision to suspend Romania's entry into the Visa Waiver Program. According to the announcement, starting April 7, 2025, all temporary visa applicants must present a printed copy of the […]
Real estate developer Speedwell Development has appointed Yannick Van de Parre as country manager for Romania. In this new role, he will support the co-founders Jan Demeyere and Didier Balcaen with the executive management of Speedwell Romania, “ensuring operational efficiency across all projects and leading the local team as the company continues its growth in […]
Digital Nation and the Ministry of Education and Research have partnered for the implementation of Saro, an AI-based solution, in schools and universities across Romania. The solution will allow students, pupils, and teachers access to an AI-powered assistant designed to address challenges such as school dropout, excessive bureaucracy, declining motivation, the need for personalized learning, […]
The town of Borșa, in northern Romania, is in discussions with the North-West Regional Development Agency to obtain at least EUR 50 million to connect its Olympic ski slope with the old slope in the Runcu Știol area and the one in Prislop Pass, resulting in approximately 25 kilometers of interconnected ski slopes. The funds […]
