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.
Romania achieved the best result in its history at the 37th edition of the International Olympiad in Informatics 2025. The four students representing the country each secured a gold medal. The olympiad took place in Sucre, Bolivia, and brought together participants from over 90 countries to compete in computer science. Romania’s golden team consisted of […]
Romania has the third-highest electricity spot price in the EU from the beginning of the year to date, maintaining the position it held last year, according to data analyzed by Profit.ro. The average daily price of electricity traded on the day-ahead market operated by OPCOM (equivalent...
With AI's promise to elevate efficiency and access to knowledge comes the prospect of increased inequality for those who cannot access it. Against the backdrop of the many challenges AI poses, it is important to examine our truth bubbles, identities, and modes of organizing, behavioral scientist Tamás Dávid-Barrett argues. Tamás Dávid-Barrett, who trained as both […]
Home prices continue to rise rapidly in most major cities across Europe and globally, including Romania. Bucharest and other large cities are nearing the critical threshold of inaccessibility for residents with average incomes, according to an analysis by the Social Monitor, a project of Friedrich-Ebert-Stiftung Romania, based on data from Numbeo and Eurostat. In the […]
Representatives of Romania’s main education trade union federations protested on August 4 for the fourth consecutive day in front of the Ministry of Education and Research, opposing austerity measures introduced under Law 141/2025, which came into force on August 1,
The Declic Community has submitted a petition signed by roughly 90,000 Romanians to the Presidential Administration, calling on president Nicușor Dan to initiate a national referendum on the reform of special pensions. The civic group is demanding that all pensions follow the contributory principle and that the retirement age be the same for all professions, […]
