Romania's economy could grow next year by 2.1% and inflation could be 8.7% at the end of the year, says Ciprian Dascalu, head economist with BCR. 'Our forecast says: 2.1 economic growth next year. To mention some background hypotheses. I think the main hypothesis is growth in the euro zone - 0.1% - similar to the working hypothesis. To give it some flexibility, if from this 0.1% we go to -1/+1% namely an adjustment of a percentage point on one side or another of the growth in the euro zone affects the growth prognosis for GDP in Romania with almost 0.7 - 0.8 %. This is the flexibility in our estimate.Inflation 8.7% at the end of the year. Again, the hypothesis that the measures will remain and they have already been approved extended, the support measures for the costs with energy up to 2025. Another hypothesis is oil price. If we watch futures curve for oil, at the end of next year the prices are anticipated to drop. And this brings a disinflationist effect and for the first round, somewhere a drop in the oil price of about 10% - it would mean effect of round one, somewhere about 0.2 percentage point of inflation. And the effects of round two get somewhere to 0.4%, said Ciprian Dascalu on Friday at the annual conference of the Association of Financial-Banking Analysts of Romania (AAFBR), event organised with the support of PwC Romania and BRD -GSG. As regards interests, he said that BNR closed down its cycle of strengthening on the key rate at 6.75% in November. Asked about the possible key interest for next year, he said that he sees it as constant for the whole of 2023. At the same time, Florian Libocor, founding member of AAFBR, head economist with BRD-GSG stated that 2023 will not mean recession for Romania, but a slowing down of the growth rhythm. He mentioned that next year will be a year of resilience.
German company Henkel, with over 500 employees in Romania, has opened a new headquarters in Bucharest, marking a fresh chapter in its three-decade presence in the local market. The space blends Henkel’s “Smart Work” concept with Romanian cultural design elements inspired by Constantin Brâncuși and traditional motifs, while a dedicated quiet zone pays tribute to […]
A couple of years ago, Romania’s Defense Ministry concluded a USD 400 million deal with Israeli company Elbit for the development of seven Watchkeeper X systems, which will be used to detect Russian operations near the border areas. The drones will be delivered in a few months, according to the manufacturer, as reported by Digi24. […]
Ruling on the draft law on the disbursement of privately-managed pensions, namely 2nd and 3rd Pillars, inked by the Financial Supervisory Authority (ASF), promoted by the Romanian government and approved with amendments by the Parliament, the Constitutional Court (CCR) concluded that the capping the single payment granted before the start of the monthly payments to […]
The revised bill that bans the cumulation of the public pension of a special (non-contributive) nature with a wage paid in the budgetary sector, currently available for public debate, will be amended so as to restrict the exceptions provisioned in the original form, labor minister Florin Manole said, according to
The Romanian business community reiterated its firm call to decision-makers to eliminate the minimum turnover tax (IMCA), in view of the discussions on the construction of the state budget for 2026, according to a statement signed by more than 100 employers' federations, business associations, and chambers of commerce in Romania. The Romanian government will address […]
Romanian president Nicusor Dan reiterated in a speech at the 2025 Digital Governance Summit organised by Edge Institute at Cotroceni Palace and published on the Presidency's webpage, thus making it somewhat official, an invitation addressed to the "private community" to draft regulations and sectoral policies that the state is unfortunately unable to design, such as […]
