The Gross Domestic Product (GDP) stagnated in the first quarter of this year compared to the previous quarter, and compared to the same quarter of 2024, GDP recorded an increase of 0.2%, according to data the National Institute of Statistics (INS) published on Thursday.According to INS, based on seasonally adjusted data, GDP did not change in Q1 2025 compared to the previous quarter, and compared to the same quarter in 2024, the economy grew by 0.5%."The seasonally adjusted series was recalculated by including the GDP estimate for Q1 2025, and volume indices were revised compared to the second provisional version of the GDP for Q4 2024, published in Press Release No. 88 on April 10, 2025. As follows: Q1 2024 compared to Q4 2023 was revised from 99.6% to 99.9%; Q2 2024 compared to Q1 2024 was revised from 100.4% to 100.3%; Q3 2024 compared to Q2 2024 was revised from 99.9% to 99.8%; Q4 2024 compared to Q3 2024 was revised from 100.6% to 100.5%; Seasonally adjusted series are recalculated quarterly in accordance with European practice," the INS mentions.The budget for the current year is built based on an estimated economic growth of 2.5%.
President Nicusor Dan signed on Thursday the decree appointing Prime Minister Ilie Bolojan as interim Vice Prime Minister on the areas coordinated by Dragos Anastasiu, the Presidential Administration informed.On 27 July, Dragos Anastasiu announced he was stepping down from the vice prime minister office, mentioning that he could no longer accept "being denigrated and thus […]
Prime Minister Ilie Bolojan continued consultations on Thursday with representatives of the Association of Communes of Romania, telling them there is a strong chance to overcome the current difficult period if the approach of "responsibility toward public funds" is maintained."The reform of local public administration will be part of the second package of government measures […]
Financing the National Recovery and Resilience Plan (PNRR) projects will continue for those already initiated and will stop only in case investment has not begun, where not a single euro was spent for construction, Development minister Cseke Attila explained on Thursday. “PNRR will not stop, neither will financing investments which have already been initiated, […]
The Justice Ministry announced on Thursday having developed in cooperation with the Finance Ministry and the National Tax Administration Agency a set of proposals to amend the Insolvency Law, which will be included in the second reform package.Some of the amendments provide for a higher recovery rate of the taxes and fees owed by insolvent […]
Romania is in the antechamber of recession, with the risk that its economy will decline in the third or fourth quarter, especially amid an increase in taxes, a significant drop in sales and record inflation at European level, says business consultant Adrian Negrescu."We are currently in the antechamber of recession. It is a moment […]
The Ministry of Culture announced on Thursday that is set to adapt national legislation for enforcing the European Media Freedom Act (EMFA), which supports media pluralism, editorial responsibility, protects journalists from abusive surveillance and intimidation, and provides protection for sources.According to a Culture Ministry release, the implementation in Romania of Regulation (EU) 2024/1083 of the […]
