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.
Romania, which for years ranked last in the EU for packaging waste recycling, now stands at the forefront of Europe’s circular economy, proving that a country with initially fragile infrastructure can implement, in record time, one of the most effective collection and recycling systems in Europe. This rapid transformation is taking place in a European […]
Tucked inside Radisson Blu Hotel, Bucharest, Ginger Sushi Bar & Lounge marks the turn of the year with an intimate New Year’s Eve dining experience built around a multi-course tasting menu. From 19:00 onwards, guests are welcomed to a carefully paced evening that blends Japanese inspiration with premium ingredients, from scallops and Wagyu to Chilean […]
Romanian non-profit Dăruiește Viață has completed a new renovation project at the “Louis Țurcanu” Emergency Children’s Hospital in Timișoara, upgrading the Pediatric Onco-Hematology Transplant Unit to modern medical standards. The investment, worth approximately EUR 150,000, was funded by Linde Gaz Romania and Atos Global Delivery Center. The organisation has been working with the Timișoara hospital […]
The multimedia exhibition Aici Se Vede Jazz (Here You Can See Jazz), set to open at SAC Berthelot in Bucharest, explores how jazz found its way in the pre-1990 Bucharest and “the contemporary ways to listen, visualize, perform and relate artistically to its world of sounds and ideas.” Bucharest had improvised studios, rehearsals with the […]
Aon Romania, part of the global group Aon plc, draws attention to the urgent need for structured solutions to protect trade receivables in an economic context characterized by high volatility and geopolitical uncertainty. The subject was central to the discussions at TRADE CREDIT TALKS - Receivable Protection in the Age of Volatility, where business leaders […]
Bucharest’s shopping centres posted mixed financial results in 2024, with major discrepancies between the city’s largest malls and mid-sized retail centres, according to financial analysis platform RisCo.ro. The data shows contrasts in profitability and turnover, as well as significant losses among some of the capital’s biggest retail projects. AFI Cotroceni recorded the highest turnover of […]
