- 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%.
Former US first lady Michelle Obama, the wife of Barack Obama, was in Bucharest on Thursday, September 18, to serve as the main guest at the second edition of the Impact Bucharest series of conferences. The former first lady spent about an hour in front of a large audience, speaking about her childhood in a […]
Czech president Petr Pavel spent a few days in Romania at the beginning of September while on holiday. According to statement by the Romanian Embassy in Prague, the Czech leader traveled mountain routes by motorcycle and chose modest accommodations. Pavel tried to see as much of what Romania had to offer. He planned his routes, […]
Romania is taking tangible action toward its green transition through sustainable infrastructure projects, public‑private partnerships and green bonds. Experts, government officials and business leaders have gathered today at the CES Bucharest ESG Conference, to present progress and identify solutions through which the public and private sectors can collaborate to build a sustainable and competitive economy. […]
Prime minister Ilie Bolojan announced that he will visit Brussels next week to talk to three European commissioners about deficits, defense, and EU financing. The first meeting will be with the commissioner for economy, Valdis Dombrovskis, as Romania “must adjust the issues related to deficits to be a trustworthy country, so as not to continue […]
A large majority of Romanians, namely 85%, have heard of celebrated composer George Enescu, according to the third edition of the Informat.ro – INSCOP Research Barometer conducted earlier this month. However, the survey shows a slight decline in cultural awareness compared to 2013, particularly among younger generations. The
The volume of trade between Romania and China was almost USD 9.3 billion in 2024, according to official statistics. Trade between the two, however, is not balanced. Romania registered a USD 7.7 billion deficit with China, and a USD 2.1 billion deficit in the first quarter of 2025 as well. The People’s Republic of China […]
