The Macroeconomic Confidence Indicator of the CFA Romania Association decreased in March 1.4 points to 51.6 points, a situation that was due to the divergent evolution of the two components of the indicator: the increase of 5.2 points for current conditions and, at the same time, the decrease of 4.7 points for expectations that have a horizon of 12 months.According to a press release from the association, the anticipated inflation rate for the 12-month horizon (April 2025) averaged 5.33%. At the same time, more than 75% of participants anticipate a reduction in the inflation rate over the next 12 months.As regards the EUR/RON exchange rate, around 88% of participants anticipate a depreciation of the leu in the next 12 months and the rest a stagnation. Thus, the average value of expectations for the 6-month horizon is 4.9961 lei for one euro, while for the 12-month horizon, the average value of the anticipated exchange rate is 5.0419 lei for one euro."Although, in the short term, due to the inflow of public money, confidence in the economy is growing, for the 12-month horizon, given the macroeconomic imbalances and high fiscal uncertainty, confidence in the economy has declined," said CFA Romania vice president Adrian Codirlasu.Regarding the evolution of residential property prices in the cities, most of the participants, 44% expect a stability in the next 12 months, while 38% expect an increase in prices. Also, 62% of participants believe that current prices are overpriced, while 38% believe that they are correctly priced.The projected state budget deficit for 2024 is expected (average value of expectations) to be 5.4%, and economic growth is expected to be 2.7%.Public debt, calculated as a percentage of GDP, is expected to increase to 53% in the next 12 months.In the March exercise a survey was also conducted on the evolution of the inflation rate in the coming years as well as on the evolution of the monetary policy interest rate. Thus, 29% of survey participants expect the first interest rate cut in May 2024 and 36% expect the first interest rate cut in July 2024. As for the inflation rate entering the target range (1.5% - 3.5%), 56% of participants anticipate it will happen in 2025, while 25% anticipate that this will happen in 2026.
A street in Bucharest’s District 3 has been closed to traffic after the state-owned gas network operator Transgaz warned that it had been built over natural gas pipelines in violation of safety standards. Brățării Street was allegedly built by the District 3 City Hall in the area without proper measures in place. Vehicular traffic over […]
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Presidential adviser Ludovic Orban is leaving his position after just six weeks in office, following a mutual agreement with president Nicușor Dan to end their collaboration, the Presidential Administration announced on Tuesday, November 18, as reported by Agerpres. Orban, a former prime...
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The design phase for the most difficult section of the A8 highway, namely Lot 2B Grinţieş-Pipirig, has begun, according to a statement given by Romanian transport minister Ciprian Şerban on Monday, November 18. The contract for the section, valued at RON 5.97 billion (EUR 1.17 billion), was signed at the end of October. In total, […]
