The International Monetary Fund (IMF) has downgraded its growth projections for the Romanian economy this year. The latest “World Economic Outlook” report from the IMF revises the estimate from 3.8% in October to 2.8% According to the IMF’s new forecasts, after an advance of 2.1% last year, the economy will grow to 2.8% this year, accelerating to 3.6% in 2025. In October, the IMF estimated an advance of 3, 8% of Romania’s GDP in 2024. Regarding inflation, the IMF forecasts that Romania will register an average annual increase of 6% this year and 4% next year, from 10.4% in 2023. In October, the IMF estimated an average annual increase in inflation of 5.8% in 2024. Also, the IMF expects Romania’s current account deficit to remain at 7.1% of GDP in 2024, similar to the level forecast in October and to that of 2023. For 2025, the international financial institution predicts a slight reduction, to 6, 8% of GDP, of the current account deficit. As for the unemployment rate, the IMF estimates a level of 5.6% in 2024, similar to that of 2023, and at 5.4% in 2025. The forecasts were published on the occasion of the annual meetings of the International Monetary Fund (IMF) and the World Bank (WB), which take place between April 15 and 20, in Washington.
After ten years of protecting urban biodiversity, the Văcărești Natural Park Association has officially become the Bucharest Natural Park Association (APNB), reflecting its expanded mission to safeguard and promote nature across the entire capital city. The rebranding signals a strategic shift from focusing on a single park to building a city-wide network of natural areas, […]
The Romanian team took first place at the European Youth Chess Championship for teams in the under-12 category. The tournament took place in Terme Catez, Slovenia. The team, composed of Lucas Rusu, Răzvan-George Pârvu, Iustin Larion, and Iustin-Nicolas Cazacu, led by Petre Nad, achieved 5 victories and one draw in the 7 rounds and surpassed […]
Simina Tănăsescu, seen as belonging to the reformist wing of the Constitutional Court of Romania (CCR), has been elected as the Court's president for a three-year term following a vote held on July 11, Hotnews.ro announced. She succeeds Marian Enache, whose mandate expired earlier this month. Tănăsescu...
Prime minister Ilie Bolojan, the only candidate for the position of president of the National Liberal Party (PNL) in Romania, was elected to this position on July 12 at the party's Congress. Bolojan served as interim PNL head after Nicolae Ciuca resigned following his failure in the presidential elections last November. During his term as […]
The average net wage in Romania increased by 7.6% y/y to RON 5,508 (EUR 1,087) in May, while the real annual advance eased to +2.3% y/y – the slowest pace in nearly two years, according to data published by the statistics office. Further moderation is expected as the government froze the wages in the budgetary […]
The Trump Organization has announced the launch of its first luxury residential project in Romania, in partnership with Romanian developer SDC Imobiliare – a local Cluj Napoca-based real estate developer controlled by Ştefan Berciu. The project, Trump Tower Bucharest, marks the official debut of the Trump brand in the country, according to
