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.
Ireland can be seen as one of the most important business hubs in Europe and the European Union, as many international companies have established regional headquarters there. If you are looking for a country to expand your enterprise, you should definitely consider Ireland for several reasons that are presented below. Location and language The first […]
Cyprus is mostly known as a tourist destination. However, there is also a business side to it, as many investors choose it to open companies because of the favorable taxation system. Apart from its low corporate tax rate, there are a few more reasons why you should choose it if you are looking for a […]
The Romanian Commercial Code provides for various types of entities that can be created by natural persons and companies, local or foreign. Each of them has its own particularities, which can give it various advantages. How do you choose among them? We will review the main types of companies and their pros to help you […]
A new alley named after Romanian diplomat Nicolae Titulescu was inaugurated on Tuesday, December 9, in Paris’s Parc Monceau during a ceremony attended by Romania’s president Nicușor Dan and Paris mayor Anne Hidalgo. “I expressed my appreciation for the decision to name an alley in the beautiful Parc Monceau in Paris after the great Romanian […]
Oxygen Resort, a development located in central Romania’s Harghita county, has inaugurated its first bungalows. The first 18 bungalows are already functional, with another 17 units to be completed in the next stage, bringing the total to 35. The inauguration of the bungalows “marks the transition from a center dedicated predominantly to recreational activities to […]
Romania carried out a new medical evacuation mission for civilians from Gaza on Monday, December 8, transporting eight Palestinian patients and 29 accompanying relatives to Bucharest for treatment, according to the Department for Emergency Situations (DSU). The patients were evacuated aboard a Romanian Air Force C-130 Hercules aircraft after lacking access to adequate medical care. […]
