- As against the same quarter of 2021, the Gross Domestic Product recorded an increase by 6,5% for the unadjusted series and recorded no change for the seasonally adjusted series; - The seasonally adjusted series of quarterly Gross Domestic Product was readjusted as a result of the introduction of the estimates for Q1 2021, differences being recorded as compared to the version published in the Press release no. 85 of April 8, 2022. Romania's economy advanced 5.2 percent in Q1 2022 from the previous quarter and 6.5 percent from the year-ago period, the National Institute of Statistics (INS) announced on Tuesday.As regards the evolution of GDP in Q4 2021, the INS explained that seasonally adjusted volume indices have been changed from the second provisional version as a result of the revision of the unadjusted series by including the GDP estimate for Q1 2022, as well as by the change of the model applied for the seasonal adjustment in the quarterly series.Thus, whereas according to data released in April, the GDP was 0.1 percent down in the last quarter of 2021, the new data shows that the economy advanced 1 percent.The aforementioned revision of the unadjusted series results in the following changes: the result for Q1 2021 compared to Q4 2020 was revised from 101.9% to 101.1%; the result for Q2 2021 compared to Q3 2020 was revised from 101.6% to 103.3%; the result for Q3 2021 compared to Q2 2021 was revised from 100.4% to 97.1%; the result for Q4 2021 compared to the Q3 2021 was revised from 99.9% to 101.0%, INS said in the release.Early this May the National Strategy and Projection Commission (CNSP) revised downwards its estimate for the GDP by 1.4 percentage points to 2.9 percent from 4.3 percent in the previous forecast.The CNSP estimates are in line with the forecasts of the international financial institutions, which have significantly downwardly revised the growth milestones for the Romanian economy this year. Thus, the IMF latest growth estimate for 2022 is 2.2% as to 4.8% in the autumn, while the World Bank's projection is even more modest - at just 1.9%.On Monday, the European Commission released its spring economic forecast, showing that after a robust growth in 2021, Romania's economy is expected to slow to 2.6% in 2022, as inflation dents available revenues and the war in Ukraine affects confidence in the economy, supply chains and investments.The draft budget for 2022 was designed for an economic growth of 4.6%.
On Thursday, January 23, the European Commission granted a protected geographical indication status to Romania’s Jidvei wine. The new status offers recognition for the distinctive qualities of the wine. The brand encompasses white, rosé, red, sparkling, semi-sparkling, and liqueur wines produced from grape varieties grown in the Alba region, in central-western Romania. The vineyards in […]
Romania's pavilion at the Osaka World Expo 2025, which will take place from April 13 to October 13, was built with a focus on sustainability, including contributions from Romanian workers. The pavilion also highlights Romania's national resources. The mascot for the expo is a pelican named Haru (meaning "spring" in Japanese), symbolizing the importance of […]
Examin, a Romanian startup specializing in AI-powered video analytics, has secured EUR 200,000 in pre-seed funding from a private investor. The funds will be directed toward a market-ready product, creating an AI-driven prototype for quality inspection in manufacturing processes (AI Quality Inspection), developing its first AI Video Analytics camera, expanding the team, and scaling marketing […]
The beginning of 2025 brought increased pollution in the Bucharest-Ilfov area, as traditional pollutants such as cars and heating systems met low wind speeds, high humidity, and thermal inversion. The latter three prevent pollutant particles from dispersing and instead keep them at ground level. As a result, the level of pollution has doubled in the […]
Update: DNA confirmed that Sinaia mayor Vlad Oprea had been detained for 24 hours beginning January 23 on charges of bribery in continuous form, conducting financial operations incompatible with his position, false in asset declarations, abuse of office, and influence peddling. The prosecutors also said that Oprea indirectly received a total bribe of EUR 238,000 […]
Prosecutors from Romania's National Anticorruption Directorate (DNA) reportedly detained Vlad Oprea, the mayor of the popular mountain town of Sinaia, for 24 hours on Thursday, January 23. He faces corruption charges in a case investigated by the DNA, with further searches set to take place at the Sinaia City Hall later today, in the presence […]
