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.
EVERGENT Investments, an investment company listed under the ticker EVER, reports a net result of RON 273.81 million, 2.8 times higher than the budgeted level for the entire year of 2024. The net result is the company’s main financial performance indicator, comprised of RON 144.02 million in net profit and RON 129.79 million in net […]
One United Properties (BVB: ONE), the leading green investor and developer of residential, mixed-use, and office real estate...
La French Tech Bucharest announces the third edition of its highly-anticipated flagship event, Inspiring Women in Business, set to take place on November 21st, 2024, at the Romanian - American University (Expoziției Boulevard, Number 1B, Bucharest), starting at 18:30. This prestigious event will spotlight influential women who are leading businesses through transformative times, showcasing their achievements, […]
Eltra Logis, one of the main players in the niche logistics, transport, and storage market, is strengthening its position in the pharmaceutical industry, which now generates 40% of the company's turnover. This consideration comes based on the significant consumption of medicines in Romania and the development of local production capacities in the pharmaceutical sector. The […]
The Nexus Gaming team, which represented Romania at the IESF World Esports Championship, defeated Portugal’s team in the final to become world Counter Strike 2 champions. The Romanian team is composed of experienced players Ciocardau, Xellow, BTN, Ragga, and Adron. During the IESF WEC24 championship, they defeated some of the strongest teams, many of which […]
Well-known American actor John Malkovich, who was on stage last week at the National Theatre in Timișoara, visited the city’s first official souvenir shop on Friday, November 15. The visit was announced by Timișoara mayor Dominic Fritz. "Even Hollywood has come to the new souvenir shop. We’re delighted that John Malkovich found high-quality mementos from […]
