Romania's economy will grow by 4% this year, and the growth will slow down to 3.5% in 2023 as the central bank will have to rise the refinancing rate to 7% by the end of this year (versus the 8%-9% ideal rate of the refinancing rate), according to a research report published by OTP Bank Romania. The fiscal consolidation has stalled and will resume maybe next year, while the current account (CA) deficit may exceed expectations this year amid high energy prices and slower fiscal consolidation, the report reads, concluding that the twin deficit issue remains relevant. "In a regional context, the comparison suggests a more optimistic average growth performance for Romania. Although, for next year, the prediction is pessimistic, with a lower expected result. At the moment, all areas are affected, given inflation - trade, real income, interest rates or fiscal consolidation, which has stalled at this time. [...] The positive outlook is also complemented by the fact that Romania is expected to receive European funds of about 3.5% of GDP annually in this forecast horizon," OTP Bank analysts argue, quoted by Bankingnews.ro. "Under the baseline scenario, inflation could peak in June at a level slightly below 15%, but in the period to come, the decline will be slow, and we should be prepared not to see single-digit rates until March next year. Energy and food growth are now passing through to core inflation [...]. In addition, we can anticipate another increase in the price of energy for household use in April next year, when the current cap-and-subsidy scheme expires," the report reads. OTP Bank expects the National Bank of Romania to conduct more hawkish policy towards the end of the year, yet along the line of moderation followed so far. "The current level of the key policy rate, of 3.75%, still lags very much behind the evolutions of the inflation and the risk premium for the Romanian assets and it is very likely to see it increasing to 7.0% by the end of the year, while the market suggests a level of 8-9%," according to bank analysts' expectations.
CATANE, the feature debut of director Ioana Mischie, has received an international nomination at the prestigious Hollywood Music in Media Awards for its original score composed by Emiliano Mazzenga. The film’s music has been selected among the top five film scores worldwide in the International Independent Film category. The film is the first Romanian production ever […]
Moldovan prime minister Alexandru Munteanu arrived in Bucharest on Thursday, November 13, for his first official foreign visit since taking office. He met with president Nicușor Dan and Romanian counterpart Ilie Bolojan before visiting the Parliament, where he met with the president of the Senate, Mihai Abrudean. After the first meeting, president Nicușor Dan stated […]
Bucharest maintains a steady flow of new office developments, with nearly 170,000 square meters of projects scheduled for delivery between 2026 and 2027, according to the latest Bucharest Office Marketbeat Q3 2025 report from Cushman & Wakefield Echinox. Despite a 25% drop in total leasing activity compared to last year, demand remained solid, with companies […]
The number of Romanians seeking work abroad has fallen to its lowest level in five years, according to new data from leading online recruitment platform eJobs. So far in 2025, only 106,000 applications were submitted for jobs outside Romania out of a total of 9.8 million, representing just 1.1% of all job applications. Employers abroad […]
Four young Romanians from Prahova County created Youllgetit.eu, a platform containing a database with thousands of internships dedicated to students in Europe. The youths are former members of the RO2D2 robotics, and are now students at top universities in Romania, Switzerland, Germany, and the Netherlands. Luca Moșu, one of the creators of the platform, told […]
Banca Transilvania, a leading bank in Romania, and BPC, a global leader in payments solutions, have completed the first Romanian pilot of the EU Digital Identity Wallet (EUDIW) for payments, enabling cardholders to authenticate online purchases with their new European Digital ID. The project forms part of the EU Digital Wallet Consortium led large-scale pilot funded by […]
