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.
In the context in which agri-food systems are responsible for almost one third of global greenhouse gas emissions, Auchan Romania assumes an active role in the transition of its supply chain toward a more sustainable model. At the second edition of the Climate Supplier Event, organized under the aegis of the Climate Change Summit, the […]
Janiva Magness, the winner of seven Blues Music Awards following 26 nominations, and nominated for a Grammy for a career spanning 17 albums, is set to perform at the 14th edition of the Brașov Jazz & Blues Festival, which will take place between August 14–16, 2026. Magness is one of the most valuable and influential […]
Auction house Artmark announced a major auction for this winter featuring an engraving created by Francisco Goya, the most important Spanish artist of the late 18th and early 19th centuries. Romania's late communist leader Nicolae Ceaușescu received this gift from King Juan Carlos I as a gesture of diplomacy. The engraving entitled “The Engagement – Capricho […]
Authorities managing Romania's Bicaz Gorges–Hășmaș National Park has built a fish ladder system on the Bicaz River, which will allow protected species to migrate and reproduce. There are several bridges and small bridge structures in the Bicaz River that have a “bottom sill,” meaning small waterfalls. Fish that do not jump like the trout cannot […]
The far-right opposition parties in the Romanian Parliament are set to file a motion of no confidence against the government headed by prime minister Ilie Bolojan. The motion, authored by senator Ninel Peia of the Peace – Romania First group, is specifically aimed at the reformist party Save Romania Union (USR), and is entitled “Romania […]
Romania's iconic rock singer Adrian Pleșca, known as “Artan,” died on Tuesday, December 2, after a fatal stroke, at the age of 64. The artist founded the well-known band “Timpuri Noi” in 1982 and “Partizan” in 2001, and was popular on the Romanian rock scene. Over the years, he left and returned to the two bands. Several […]
