A delegation of the International Monetary Fund (IMF), led by Jan Kees Martijn, will visit Bucharest between November 5-8 to analyze recent economic and financial developments and to review macroeconomic forecasts."An IMF mission, led by Jan Kees Martijn, will visit Bucharest between November 5 and 8, for a regular visit. The Fund's team will analyze recent economic and financial developments and update the macroeconomic outlook," reads the IMF announcement signed by Geoff Gottlieb, IMF regional representative for Central, Eastern and South-Eastern Europe.In the latest "World Economic Outlook" report, recently published, the International Monetary Fund (IMF) has revised downwards to 1.9% the estimates regarding the advance of the Romanian economy this year, from 2.8% as forecast in April.According to the new figures published by the IMF, after an increase of 2.1% last year, the advance of the Romanian economy will slow down to 1.9% this year, and will accelerate to 3.3% in 2025. In the spring, the IMF estimated an advance of 2.8% of Romania's GDP in 2024, compared to a 3.8% advance forecast last fall.Also, the international financial institution expects a further worsening of Romania's current account deficit, up to 7.5% of GDP in 2024, from a level of 7.1% of GDP, forecast in April. The IMF predicts a slight reduction in the current account deficit, up to 7% of GDP in 2025, compared to a decrease up to 6.8% as it was estimated in the spring. According to IMF forecasts, Romania's current account deficit will remain at a high level even in 2029, when it will stand at 5.9% of GDP.Currently, Romania does not have a financing agreement with the International Monetary Fund, but the financial institution annually evaluates the development of the Romanian economy, based on consultations under Article IV of the IMF's Articles of Agreement.The consultations are an oversight exercise that is mandatory for all member states. The purpose of the 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 development at the level of the economy.
Romania, which for years ranked last in the EU for packaging waste recycling, now stands at the forefront of Europe’s circular economy, proving that a country with initially fragile infrastructure can implement, in record time, one of the most effective collection and recycling systems in Europe. This rapid transformation is taking place in a European […]
Tucked inside Radisson Blu Hotel, Bucharest, Ginger Sushi Bar & Lounge marks the turn of the year with an intimate New Year’s Eve dining experience built around a multi-course tasting menu. From 19:00 onwards, guests are welcomed to a carefully paced evening that blends Japanese inspiration with premium ingredients, from scallops and Wagyu to Chilean […]
Romanian non-profit Dăruiește Viață has completed a new renovation project at the “Louis Țurcanu” Emergency Children’s Hospital in Timișoara, upgrading the Pediatric Onco-Hematology Transplant Unit to modern medical standards. The investment, worth approximately EUR 150,000, was funded by Linde Gaz Romania and Atos Global Delivery Center. The organisation has been working with the Timișoara hospital […]
The multimedia exhibition Aici Se Vede Jazz (Here You Can See Jazz), set to open at SAC Berthelot in Bucharest, explores how jazz found its way in the pre-1990 Bucharest and “the contemporary ways to listen, visualize, perform and relate artistically to its world of sounds and ideas.” Bucharest had improvised studios, rehearsals with the […]
Aon Romania, part of the global group Aon plc, draws attention to the urgent need for structured solutions to protect trade receivables in an economic context characterized by high volatility and geopolitical uncertainty. The subject was central to the discussions at TRADE CREDIT TALKS - Receivable Protection in the Age of Volatility, where business leaders […]
Bucharest’s shopping centres posted mixed financial results in 2024, with major discrepancies between the city’s largest malls and mid-sized retail centres, according to financial analysis platform RisCo.ro. The data shows contrasts in profitability and turnover, as well as significant losses among some of the capital’s biggest retail projects. AFI Cotroceni recorded the highest turnover of […]
