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.
Talent Connect Inc. is proud to announce that it has been officially designated by the U.S. Department of State as a sponsor for the J-1 Visa Intern and Trainee Programs. This prestigious designation empowers Talent Connect Inc. to facilitate structured and guided training programs in the United States for eligible international university students, recent graduates, […]
Romanian president Nicușor Dan is present Thursday and Friday, June 26-27, in Brussels, at the first European Council since he took office as president. EU leaders at the event are set to discuss a range of topics, such as the situation of the war in Ukraine, the crisis in the Middle East, security and defense […]
Celebrities will no longer be allowed to appear in gambling advertisements on TV, radio, and online, following a decision voted on Wednesday, June 26, in a public session of Romania’s audiovisual watchdog, the National Audiovisual Council (CNA). This provision is part of a series of amendments made to the Audiovisual Regulatory Code, the secondary legislation […]
Hidroelectrica, the largest energy provider in Romania, announced on Thursday, June 26, that it had awarded the tender for a floating photovoltaic panel system within the “Nufărul Pilot Project.” The public procurement was initiated through an open tender, with an estimated value of RON 47.2 million (EUR 9.5 million) excluding VAT. Two economic operators submitted […]
Bucharest is set to bring back its tourist bus service, following a decision by the city’s General Council on Wednesday, June 25, to establish a dedicated public transport line called “Bucharest City Tour,” Agerpres...
Romania has made limited progress in enhancing its framework against money laundering, terrorist financing, and proliferation financing, according to a recent report from the Council of Europe’s committee of experts on the evaluation of anti-money laundering measures and the financing of terrorism, or Moneyval. The committee noted that the country has taken several steps to […]
