The National Strategy and Prognosis Commission (CNSP) estimates an economy advance of 7% this year, in line with recent EC prognoses. CNSP thus maintained the GDP estimated growth for this year, which it advanced in the August prognosis, but dropped estimates for 2022 from 4.9% to 4.6%. According to the Projection of main macroeconomic indicators 2021-2025, published by CNSP, GDP advance is estimated at 5.3% in 2023, 5% in 2024 and 4.5% in 2025, all these figures being unchanged compared to the summer variant. This year, CNSP estimates GDP at 1.190 billion lei. Final consumption is foreseen to grow by 6.4% in 2021, against a decline of 3.6% last year. In the following years the growth will temperate at 4.1% in 2022, 4.5% in 2023, 4.4% in 2024 and 4.1% in 2025. At the investment chapter increases of 8.2% this year, 9.3% in 2022, 11.2% in 2023, 9% in 2024 and 7.1% in 2025. The deficit of the balance of trade will deepen in the years to come, reaching 23.5 billion euros in 2021, from 18.4 billion euros in the previous year, to reach 33.7 billion euros in 2025. Export of goods is estimated at 73.1 billion euros this year, on the rise by 17.6% and import at 96.7 billion lei, on the rise by 20%. The current account deficit will be 6.3% of GDP this year, from 5% in 2020, to drop slightly to 6.1% of GDP next year. Inflation at the end of the year is estimated at 7.7%. BNR foresaw an annual inflation rate of 7.5% in December 2021, the new projection being higher by 1.9% compared to that of the central bank in August. For 2022, CNSP estimates an inflation rate drop of 4.7% at the end of the year. The average lei/euro exchange rate is anticipated at 4.92 this year, to reach 4.98 next year. The average number of employees will grow slightly this year by 1.4% to 5.104 million persons, the number of unemployed will drop to 250,000 persons, from 296,100 last year and the unemployment rate in 2021 is estimated at 3%, on the drop from 3.4% in 2020. For next year, the Prognosis Commission estimates the continuation of the growth of the number of employees to 5.2 million persons and the drop of the unemployment rate to 2.8% and of the number of unemployed to 258,000 persons. Net average salary is foreseen to be 3,467 lei/month in 2021, after an increase of 7.8% compared to the previous year and to 3,775 in 2022 (plus 8.9%). According to estimates of the National Statistics Institute, released on Tuesday, the growth of Romanian economy slowed down at 0.3% in quarter 3 compared to the previous quarter, while compared to the same period of 2020, the GDP advance was 7.2% for gross series and 8% for adjusted series. In the first 9 months of 2021, GDP grew by7.1% for gross series and 6.8% for adjusted series compared to the same period of the previous year. The European Commission recently reviewed at 7 %estimates on Romania's economic growth this year after having foreseen a 7.4% advance in July.
The Nexus Gaming team, which represented Romania at the IESF World Esports Championship, defeated Portugal’s team in the final to become world Counter Strike 2 champions. The Romanian team is composed of experienced players Ciocardau, Xellow, BTN, Ragga, and Adron. During the IESF WEC24 championship, they defeated some of the strongest teams, many of which […]
Well-known American actor John Malkovich, who was on stage last week at the National Theatre in Timișoara, visited the city’s first official souvenir shop on Friday, November 15. The visit was announced by Timișoara mayor Dominic Fritz. "Even Hollywood has come to the new souvenir shop. We’re delighted that John Malkovich found high-quality mementos from […]
The CONFIDEX H2 2024 study shows a relatively stable year without major events that could significantly impact Romania’s economy, but leaves room for growing concern regarding the future. According to the study, supported by private equity funds ROCA, AGISTA, and CITR, the leader in Romania’s insolvency and restructuring market, only 29% of managers report optimism […]
Romanian president Klaus Iohannis was on a visit to Berlin from November 15 to 18 to signal the strong ties between Romania and Germany with a speech in the German Bundestag. He also met German chancellor Olaf Scholz and president Frank-Walter Steinmeier. During his speech, the Romanian president said that the friendship between the two […]
In a rapidly digitalizing world, companies face numerous challenges in managing documents and data efficiently. Andrei Negulescu, Strategic Digitalisation Manager at Matricia Solutions, shares unique insights into how his firm helps businesses navigate the complex journey of digital transformation. In today’s world, every business talks about digital transformation, but few know how to make it […]
The Bucharest National Airports Company, which operates the two main airports of the capital, wants to purchase 450 benches for passengers in the boarding gate area of the Henri Coandă International Airport, better known as the Otopeni Airport. According to the announcement, CNAB will purchase 250 three-seat benches and 200 four-seat benches. The contract is […]
