A team of the International Monetary Fund, led by Jan Kees Martijn, the head of the mission for Romania, will be in Bucharest between September 25 and October 4, 2023, for the annual analysis of the Romanian economy based on Article IV, announced the international financial institution in a press release.Such consultations take place periodically with all IMF member states.The IMF team will discuss economic policies with the Romanian authorities in meetings with representatives of the Ministry of Finance, the National Bank of Romania, government agencies, according to the press release signed by Geoff Gottlieb, the regional representative of the IMF for Central, Eastern and South-Eastern Europe. At the same time, the experts of the international financial institution will meet with representatives of the private sector and non-governmental organizations, the source adds.At the end of the visit, it is expected that the IMF mission will organize a press conference.The consultations constitute a supervisory exercise that is mandatory for all member states. The purpose of consultations based on Article IV is to examine the financial and economic situation at the national level and formulate some general recommendations regarding monetary policies, financial and economic policies to be followed to ensure stability and a positive evolution at the level of the economy. Based on the preliminary findings of this mission, the team prepares a report which, once approved by the management, will be presented to the IMF Executive Committee for discussion and approval.
The total number of recipients of social benefits for retired persons was, in October 2024, 925,865 – 2,322 lower compared to the previous month, according to the data provided by the National Public Pension House (CNPP) and quoted by Economica.net. Of these, 832,693...
The team of Kosovo abandoned during the stoppage time in the 92nd minute of the football match against Romania in Bucharest counting for the Nations League, accusing the Romanian fans of "racism" after the later sang Serbia-related chants. The Romanian team remained on the pitch for 74 minutes until the referee decided to put an […]
One week before the first round of the presidential elections in Romania and two weeks before the parliamentary ballot, the leader of Romania's junior ruling Liberal Party (PNL) and a presidential candidate, Nicolae Ciucă, took one more chance to argue vocally that only his party can send the senior ruling Social Democratic party (PSD) and […]
International rating agency Moody's has affirmed the ratings assigned for the first time in 2023 to Romanian financial group Banca Transilvania (BVB: TLV) and improved the outlook on the long-term deposit (Baa2) and issuer ratings (Baa3) to positive from stable. Low dependence of market funding and high profitability balances against risks posed by foreign currency […]
The number of dissolved companies in Romania increased by 6.9% year-on-year in the first nine months of 2024, reaching 30,094, up from 28,146 in the same period last year, according to data from the National Trade Registry Office (ONRC). Bucharest recorded the highest number of dissolutions at 6,184, marking a 5.4% y/y increase,
Rompetrol Rafinare, a KMG International Group (Rompetrol) member company, announced it recorded in the first nine months of 2024 a gross turnover of USD 3.57 billion and an operational result (EBITDA, an indicator that measures the company's profitability before deducting depreciation, interest, fees, and taxes) of about USD 125 million. The financial results were impacted […]
