The the economic growth of 6.5pct posted by the National Institute of Statistics (INS) for the first half of the year, and that of 13pct posted for the second quarter must be contextualized, head of the Fiscal Council Daniel Daianu told Agerpres, underscoring that we also need to consider the increase in the current account deficit and the need to correct the public budget before drawing the final conclusions."We need to understand that economic growth needs to be robust. We are looking at economic growth, but let's also look at growing external imbalances. Such growth rates are not sustainable. They are not sustainable even in developed economies that have a balanced external balance during such economic comebacks, big rebounds after the forced economic declines of 2020. It is inappropriate to say normalization, but you have unsustainable economic growth against the fundamental factors. Many economies will have lower growth rates than in 2021, in the years to come. And in our case, it is important to point out that we have a structural budget deficit and large external deficits, this combination is against us and needs to be corrected. So we need to consider this increase in the first half and the second quarter against the basic effect (we had lockdown in the first part of last year), against the external deficits and a larger structural budget deficit. This show that we shouldn't brag and we shouldn't forget that we have a major macroeconomic correction ahead of us. This year the budget deficit will be lower, it would be good to have it below 7pct of the GDP, even if the rectification target is 7.13pct. Also, we must not look at the figures for the second quarter alone. We should also consider the external balance, the external imbalances. The figure is 7pct of GDP for the entire year, but it is accompanied by an increase in the current account deficit and it must be correlated to the absolutely necessary correction of the budget deficit. We must contextualize all these figures," Daniel Daianu explained.
Roughly nine in ten Romanian employers plan to award Christmas benefits to their staff this year, according to a new survey conducted by leading online recruitment platform eJobs. The findings show that 89.7% of employers have prepared holiday perks for December, while 10.3% reported having no budget available for this purpose. As in previous years, […]
Authorities in Romania, such as the Environment Ministry, the Romanian Waters, and the Prahova local water authority Exploatare Sistem Zonal Prahova, have passed responsibility to each other for the ongoing water crisis that has left over 100,000 people without clean drinking water in the counties of Prahova and Dâmboviţa, as well as schools and hospitals in […]
Google has released its annual report on Romania’s most popular search trends, showing how politics and pop culture shaped online behaviour in 2025. Queries about Nicușor Dan, Ion Iliescu, and the viral toy Labubu stood out among the fastest-rising searches of the year, alongside major entertainment moments and high-profile public events. The spring presidential election […]
Romanians celebrate Saint Nicholas (Sfântul Nicolae) on December 6, a tradition that has grown far beyond its religious roots and signals the official start of the holiday season. The day is especially beloved by children, who eagerly prepare their freshly polished boots in hopes of finding small gifts in the morning. Many Romanians also celebrate […]
The newest episode of Voices of Romania, Romania Insider’s interview series, is now available on Spotify, YouTube, Apple Podcasts, Deezer, and all...
ASFAT, a wholly state-owned company operating under Türkiye’s Ministry of National Defence (MoND), has signed an agreement for the delivery of the light corvette Akhisar to the Romanian Naval Forces. This transaction represents a milestone for Türkiye’s defence industry, as it is the first international sale of a combat ship built in Türkiye to a […]
