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.
The Day of Timișoara, a celebration of the city in western Romania, will see performances from Mika and James Bay, among other artists. From alternative pop and British rock to jazz, electronic music and community experiences, The Day of Timișoara brings together in 2025 the top events of the Timișoara music scene, including Timișoara Jazz […]
The Bucharest public can attend this month a performance of Noh theater, the centuries-old Japanese mask drama, delivered by Yamamoto Noh Theater. Two works will be presented. Jiai – A Soul's Journey is a recent creation, a rare occurrence in Noh theater, where original creation requires a deep knowledge of classical Japanese language and theatrical […]
Horia Colibășanu, one of Romania's most famous high-altitude climbers, is set to embark on a new high-altitude expedition this summer, aiming to summit Nanga Parbat - one of the world's most dangerous peaks. Standing at 8,126 meters, it is the ninth-highest mountain on Earth and the second-highest in Pakistan. The expedition marks a major milestone […]
The ancient forests of Băiuț in northern Romania are poised to host Eastern Europe’s first certified forest therapy trail, a pioneering project blending science, health, and conservation, WWF Romania said. Announced during the “The Forest Heals” symposium on June 4, the initiative aims to transform the centuries-old woods of Strâmbu-Băiuț, part of Romania’s UNESCO Natural […]
Romanian citizens can now access official information about the new electronic identity card (CEI) through a dedicated government website, launched on Wednesday, June 4. The platform provides detailed guidance on how to obtain the new card, explains its features and security elements, and outlines the differences between electronic and traditional identity cards. The site is […]
Romanian president Nicușor Dan held his first press conference at the Cotroceni Palace on Wednesday, June 4, outlining key priorities for his mandate, including upcoming fiscal measures, government formation talks, and the foreign policy agenda for June. He announced that the first draft of the future governing program is expected by Monday, June 9, with […]
