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 Romanian Parliament adopted on Wednesday, June 4, the "Romania Without Violence" law, a significant legislative step aimed at curbing acts of aggression and improving protections for victims. The new legislation amends and supplements several normative acts, most notably doubling the minimum penalties in the Penal Code for assault and other violent offenses. Alongside harsher […]
Indie American films, canoe and kayak rides, and the march celebrating the LGBTQIA+ community are among the events happening in Bucharest. Jazz takes center stage in Cluj, while very short films are screened in Timișoara as part...
The Day of Timișoara, a celebration of the city in western Romania, will see performances from Mika and James Bay, among other artists. From alternative pop and British rock to jazz, electronic music and community experiences, The Day of Timișoara brings together in 2025 the top events of the Timișoara music scene, including Timișoara Jazz […]
The Bucharest public can attend this month a performance of Noh theater, the centuries-old Japanese mask drama, delivered by Yamamoto Noh Theater. Two works will be presented. Jiai – A Soul's Journey is a recent creation, a rare occurrence in Noh theater, where original creation requires a deep knowledge of classical Japanese language and theatrical […]
Horia Colibășanu, one of Romania's most famous high-altitude climbers, is set to embark on a new high-altitude expedition this summer, aiming to summit Nanga Parbat - one of the world's most dangerous peaks. Standing at 8,126 meters, it is the ninth-highest mountain on Earth and the second-highest in Pakistan. The expedition marks a major milestone […]
The ancient forests of Băiuț in northern Romania are poised to host Eastern Europe’s first certified forest therapy trail, a pioneering project blending science, health, and conservation, WWF Romania said. Announced during the “The Forest Heals” symposium on June 4, the initiative aims to transform the centuries-old woods of Strâmbu-Băiuț, part of Romania’s UNESCO Natural […]
