The National Strategy and Prognosis Commission (CNSP) revised downwards to 2.9% the growth estimate of the Romanian economy for this year, from 4.3% as previously forecast.In the spring version of the Medium-Term Forecast, CNSP shows that the overlap of shocks (the geopolitical context, successive increases in energy prices and altered global supply chains) exacerbates risks and uncertainties on the economy, while affecting short-term business expectations. .The estimates published by CNSP are in line with the forecasts of the international financial institutions, which have significantly decreased the growth targets of the Romanian economy this year. Thus, the IMF was recently estimating an advance of 2.2% for 2022, from 4.8% in the autumn, while the World Bank indicated an even more modest increase for Romania's GDP of 1.9%.For the current account deficit, CSNP foresees the maintenance of the indicator at high values in the current year (-6.9% of GDP), against the background of a growing trade deficit, amplified by the price increases. Positive corrections are expected in the medium term.The estimated level of price increase is slightly higher than the previous forecasts, respectively 9.7% compared to 9.5% for the end of the year, and 10.1% compared to 9.9% as an annual average."Recent government support measures for the vulnerable population, as well as measures to increase the minimum wage in agriculture and the food industry, will keep the dynamics of purchasing power at positive values (about + 0.7%), given a high average annual inflation (+ 10.1%)," the cited source states.For 2022, the average gross earnings are estimated to increase by 9.7%, to a level of 6,120 RON, and the number of employees will record an advance of 1.6%. The BIM unemployment rate will continue to fall this year to 5.4%.The draft budget for 2022 was set at an economic growth of 4.6%.
Six months into Donald Trump's second mandate as president of the United States, Romanian citizens are among the most pro-Trump Europeans. Most believe that his presidency is a good thing both for the country and for world peace. According to an opinion poll conducted in 12 European countries by the European Council on Foreign Relations (ECFR), 41% […]
Făgăraș Fest 2025, taking place between July 11-13 in the village of Sebeșu de Sus, Racovița commune, Sibiu County, announced its program on Tuesday, June 24. Activities include open-air music, hikes, guided nature tours, debates, and many more. Festival goers will be able to listen to well-known rock bands such as Subcarpați and Vama, and […]
The Romanian Parliament has elected new leaders for its two chambers following the formation of the new government led by prime minister Ilie Bolojan. Sorin Grindeanu, the interim leader of the Social Democratic Party (PSD), was confirmed as president of the Chamber of Deputies, while Mircea Abrudean of the National Liberal Party (PNL) was elected […]
Former tourism minister Elena Udrea received on Tuesday, June 24, approval for conditional release from the commission at the Târgșor women’s penitentiary, where she is incarcerated, News.ro reported. Next,...
Dr. Mireille Rădoi, General Director of the “Carol I” Central University Library in Bucharest, took part in the 16th edition of the Alba Transilvana Book Fair, held on June 20–22 in Alba Iulia. Organized by the “Lucian Blaga” Alba County Library, the event gathered hundreds of writers, publishers, educators, researchers, and passionate advocates of written […]
Romania ranks 49th in the 2025 edition of the World Competitiveness Yearbook, a report compiled by the International Institute for Management Development (IMD) and published in Romania by CIT-IRECSON, the Technological Information Center. The global top three are Switzerland, Singapore, and Hong Kong, according to a press release quoted by news agency
