The International Monetary Fund (IMF) has significantly revised its estimates for the growth of the Romanian economy this year, from 4.8% last autumn to 2.2% in its latest "World Economic Outlook" report published on Tuesday.According to the new IMF forecasts, the Romanian economy will slow down from 5.9% in 2021 to 2.2% in 2022, and speed up to 3.4% in 2023.The draft budget for 2022 is built on an economic growth forecast of 4.6%.By comparison, Bulgaria is expected to grow by 3.2%, while the economies of Hungary and Poland are expected to advance 3.7% in 2022.For Romania, the new revised IMF figures are slightly more optimistic than the World Bank's forecast, which in early April predicted that the economy would make a modest advance of 1.9% this year as a result of rising risks from the crisis in Ukraine. Also, in its February 10, 2022 forecasts, the European Commission estimated that the Romanian economic growth will slow down to 4.2% this year, and speed up in 2023 to 4.5%.In terms of inflation, the IMF has also significantly revised its estimates, predicting that Romania will witness an average annual price increase of 9.3% in 2022, two and a half times more than the 3.4% forecast last autumn. Price growth should slow down to 4% in 2023.About Romania's current account deficit, last autumn the IMF was expecting a deficit of 5.5% of GDP, while now it is predicting it to widen to 7% of GDP and slightly shrink in 2023 to 6.5% of GDP.In February 2022, Romania's National Economic Strategy and Forecast Board revised its GDP growth forecast to 4.3%, from 4.6% as previously estimated, taking into account the inflationary shock of the last quarter of 2021 and the wave five of the coronavirus pandemic.Romania's economy advanced 5.9% in 2021 from 2020.
It's almost impossible to think about anything not related to elections this weekend but if you should need some distraction, there are options. Happening now is the European Film Festival, screening recent productions from the continent, very varied in theme, tone, and genre. The fest is playing Bucharest, Sfântu Gheorghe and Timișoara until Sunday and […]
Modernization work is ready to start at Bucharest’s Henri Coandă International Airport, also known as the Otopeni Airport, following an investment of over RON 112.4 million (some EUR 22 million) led by the National Company Bucharest Airports (CNAB), news agency Agerpres reported. The company...
Paris Hilton, who will be present at IntenCity Craiova, a festival organized this summer between June 26–29, sent a message to her fans in Romania. "I'm excited to perform at the IntenCity Festival on June 28. It's going to be so much fun! See you there," Paris Hilton told those who will come to Craiova. […]
AMAIS (Association for Alternative Methods of Social Integration) has officially launched the SeeYou mobile app, an innovative platform that connects visually impaired individuals with volunteer guides who can accompany them during everyday activities - from medical appointments or shopping to park strolls or cultural events. SeeYou is the first mobile app of its kind in […]
SAI Broker, a Romanian investment management company part of BRK Financial Group, listed a new ETF on the Regulated Market of the Bucharest Stock Exchange (BVB) on May 16, under the stock symbol BKBETETF. The ETF aims to fully replicate the structure of the main index, BET. The BET index reflects the evolution of the […]
An investment of over RON 1.26 billion, approximately EUR 254 million, is set to be made in the Port of Constanța, to increase maritime transport capacity and the volume of commercial exchanges. The funds will be used for the construction of a quay and the development of a port area covering 550,000 square meters. The […]
