The International Monetary Fund (IMF) has downgraded its estimate of Romania's economic growth this year to 1.9%, from 2.8% in April, according to the latest World Economic Outlook report, published by the international financial institution on Tuesday.According to the new IMF forecasts, after a 2.1% growth last year, the Romanian economy will slow down to 1.9% this year, and then accelerate to 3.3% in 2025. In the spring, the IMF estimated a 2.8% increase in Romania's GDP in 2024, figures also revised downwards from the 3.8% advance forecast last autumn.The international financial institution also expects Romania's current account deficit to widen further to 7.5% of GDP in 2024, from 7.1% of GDP, as forecast in April. Moreover, the IMF estimates a slight reduction in the current account deficit to 7% of GDP in 2025, down from the 6.8% it estimated in spring. According to IMF forecasts, Romania's current account deficit will remain at a high level even in 2029, when it will stand at 5.9% of GDP.As regards inflation, the IMF foresees that Romania will record an average annual price increase of 5.3% this year, followed by 3.6% in 2025, after a 10.4% rise in 2023. By comparison, in April, the IMF was estimating an average annual inflation of 6% in 2024 and 4% in 2025.As for the unemployment rate, the IMF expects it to remain stable at 5.6% in 2024 and to fall slightly to 5.4% in 2025.The forecasts were released on the occasion of the annual meetings of the International Monetary Fund (IMF) and the World Bank (WB), which are taking place this week in Washington.In Bucharest, in September, the National Commission for Strategy and Prognosis (CNSP) revised downwards to 2.8% the economic growth projection for this year, from 3.4% previously, with the Gross Domestic Product expected to reach nearly 1,769 billion RON.
Participation in cultural education activities continues to be limited, with the main barriers being difficult access, insufficient knowledge, and cost, the recently released Cultural Consumption Barometer 2024 shows. The report showed that many Romanians still associate culture with entertainment rather than with personal development or furthering their knowledge. The need for relaxation dominates in cultural […]
Roughly 84% of Romanians say that the pace of the state’s digitalization is slow or very slow, according to an Edge Institute & AtlasIntel study presented at the Digital Governance Summit 2025, which took place on Tuesday, November 25, at the presidential palace in Bucharest. The survey aims to capture the way citizens relate to […]
Romania’s Superior Council of Magistracy (CSM) issued a negative opinion on the new bill regarding magistrates’ pensions. The move is only the latest development concerning a heated issue that led to tensions between the executive and the judiciary branch. CSM’s opinion is consultative, and the government led by Ilie Bolojan can still take responsibility for […]
Romania took the presidency of the Central European Initiative (or CEI) on Wednesday, November 26, according to a press release from the Ministry of Foreign Affairs (MAE). The organization is a regional intergovernmental forum established in 1989, following the fall of the Berlin Wall. It gathers 17 Member States in Central, Eastern, and South-Eastern Europe […]
Trade between Romania and Poland continues to grow, with annual bilateral exchanges in goods now valued at more than EUR 12 billion, according to figures presented by the Polish-Romanian Bilateral Chamber of Commerce and Industry (PRBCC). The data was released during a reception in Bucharest marking Poland’s Independence Day and Romania’s National Day. Polish investments […]
As Romania moves closer to implementing the EU Pay Transparency Directive, local employers are preparing for one of the most consequential shifts in workplace regulation in over a decade. The directive, set for transposition by June 2026, introduces strict new rules on salary disclosure, pay reporting, and equal-pay verification, aiming to close persistent gender gaps […]
