A mission from the International Monetary Fund (IMF), led by Jan Kees Martijn, will pay a visit to Bucharest from November 5 to 8 to analyse latest economic and financial developments and to update macroeconomic forecasts.An IMF mission, led by Jan Kees Martijn, will visit Bucharest from November 5 to 8 for a routine visit. The IMF team will analyse the latest economic and financial developments and will update the macroeconomic outlook, according to the IMF announcement signed by Geoff Gottlieb, IMF Regional Representative for Central, Eastern, and Southeastern Europe.In its latest "World Economic Outlook" report, recently published, the IMF revised down its forecast for Romania's economic growth this year to 1.9%, from the 2.8% projected in April.According to the new figures published by the IMF, after a 2.1% growth last year, Romania's economy will slow down to 1.9% this year, and is expected to accelerate to 3.3% in 2025. In the spring, the IMF had forecast a 2.8% growth for Romania's GDP in 2024, which has also been revised down from the 3.8% growth projected last autumn.At the same time, the international financial institution expects a continued worsening of Romania's current account deficit, to 7.5% of GDP in 2024, up from 7.1% of GDP forecast in April. The IMF predicts a slight reduction in the current account deficit, to 7% of GDP in 2025, compared to a previous forecast of 6.8% estimated in the spring. According to the IMF's forecasts, Romania's current account deficit will remain at a high level, even in 2029, when it is expected to reach 5.9% of GDP.Currently, Romania does not have a financing agreement with the International Monetary Fund, but the IMF evaluates the development of the Romanian economy annually, based on consultations under Article IV.The consultations represent a mandatory surveillance exercise for all member states. The purpose of the consultations under Article IV is to examine the national financial and economic situation and to provide general recommendations regarding monetary, fiscal, and economic policies to ensure stability and positive development of the economy.
In a time of major geopolitical shifts and fierce economic competition among global powers, Europe must take decisive action to regain its competitiveness. Romania, with one of the highest economic dependencies on the European Union, must redefine its position and become an influential player at the decision-making table in Brussels. In this context, Paneuropa Romania […]
As of January 2025, Antonio Vencesla is the new Corporate Affairs & Communications Director of JTI Romania, Moldova, and Bulgaria. Antonio Vencesla brings valuable experience in the Corporate Affairs & Communications field, joining JTI in 2012 as Corporate Affairs & Communications Manager. After three years, he went to Malawi to lead the Corporate Affairs team and […]
In 2024, Complice.ro, a curator and provider of experiences for individuals and companies, maintains stable sales at €850,000, similar to the previous year, despite a 30% increase in the number of customers. This dynamic highlights a shift in companies' purchasing behavior, with a greater focus on budget optimization. The " winery stay and wine tasting […]
Romania’s first professionally dyed rooster is being auctioned off by Vanessa, an artist known for creatively dyeing dogs, at a starting price of EUR 5,000. Inspired by trends in America, where colorful chickens have become popular, the artist decided to turn a rooster into a work of art. "I wanted something truly spectacular! I saw […]
The Bucharest Municipal Culture Center, or ARCUB, announced the Mărțișor Beauty Fair (Targ de Frumos), a traditional celebration of the changing of the seasons, which will be held on February 22 and 23. The fair will take place at Casa Aliad, in central Bucharest. This year’s edition will feature unique porcelain jewelry, spring flower bouquets […]
Real estate investments in Romania reached EUR 750 million in 2024, marking a 58% increase compared to the previous year, according to the annual Colliers report. The figure is slightly lower than the EUR 800 million annual average recorded over the past decade. Still, according to Colliers, Romania emerged as a regional leader, delivering the […]
