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.
The BET index, which follows the price movements of the most traded 20 companies listed on the Bucharest Stock Exchange (BVB), closed 2024 up 8.78% compared with the end of 2023. The BET closed at its highest end-of-year value since launch (16,720 points) but 11% below its all-time high of 18,800 points touched at the […]
2024 is almost over, and before making any predictions, hopes or wishes for 2025, I will take this moment to look back and remember the pics that stayed with me most in the past months. I will try to go in the order that I watched each, and I also included all trailers below […]
Update: The government will pass the ordinance covering measures aimed at reducing public spending and the budget deficit, prime minister Marcel Ciolacu announced. The PM said the country was facing “a difficult year ahead” and “we must quickly adopt measures that will protect Romania from possible major financial risks.” The tax on special constructions, which […]
The Government is scheduled to meet on Monday, December 30, to discuss the emergency ordinance covering measures aimed at reducing public spending and the budget deficit. The Ministry of Finance published the draft ordinance on Sunday, December 29. It is available here. Among the measures included in the draft ordinance, also known as "the austerity […]
Romania’s Ministry of Finance (MF) raised RON 2.6 billion (EUR 523.1 million) through its sixth Fidelis government bond issuance of 2024, setting an annual record of RON 16.4 billion...
UniCredit Bank, one of Romania's leading financial institutions and a member of the UniCredit Group, has announced the listing of a new corporate bond issue worth RON 750 million (EUR 150 mln) on the Bucharest Stock Exchange (BVB). The bonds, issued under the ticker symbol UCB29, are set to mature on November 22, 2029. The […]
