Romania's economy has never looked better than now and has never been so resistant from the structural perspective considers Andrei Radulescu, macroeconomic management director, Transylvania Bank. “If we consider what has happened in Romania, we will notice that even from the beginning of pandemic economy has presented a macroeconomic performance superior to that of developed western countries, despite the fact that Romania entered pandemic with a relatively low margin of economic policy intervention. However, Romania's economy proved resistant and evolved better compared to the euro zone, both in 2020 and 2021. Look at figures in the first 9 months of the present year. We have economic growth over 7% compared to the same period of 2020 and Romania has been among few countries that recorded a positive annual dynamic of productive investments in 2020, which allowed a rapid transition to a new economic cycle. I would like to point out the fact that from structural perspective Romania's economy has never looked better than now and I refer to the fact that if we apply Cobb-Douglas production factors we notice that capital and multiple productivity factors have a relatively balanced contribution to what that means annual GDP potential dynamic, and that is a signal that the structure of internal economic structure is very resistant. Now, this resistance is confirmed by a series of other indicators, Radulescu said. According to him, indicators also include the significant growth of direct foreign investments, which reached 5 billion euros in the first 9 month of 2021, being the highest level since 2008. Also, despite ll shocks with which Romania's economy was faced in 2021, at the end of October the risk premium due after 5 years was at low level. Present at the conference “Lessons learned in pandemic. What comes next?”, a debate with Romanian economic, banking and financial personalities, organized by Oxygen Events, Andrei Radulescu said that inflation could get down to the level foreseen by the National Bank for 2023. In his opinion, an opportunity would be for Romania to be invited to negotiations to join OCDE until the end of 2022.
Daniel Christian Hulea, a Romanian man accused of contributing to the NetWalker ransomware attacks, has been sentenced to 20 years in prison after pleading guilty to conspiracy to commit computer fraud and wire fraud, according to a public announcement from the US Department of Justice. NetWalker was a Ransomware-as-a-Service operation launched in 2019, which recruited […]
The new Romanian government, headed by the same Social Democratic prime minister, Marcel Ciolacu, recently made its governance program public. Among its objectives are reducing the level of bureaucracy, maintaining the flat tax rate, and reducing the budget deficit to 7% in 2025. To reach its goals, the government reduced the number of ministries to […]
The European Commission (EC) announced on Monday, December 23, that it disbursed payments under the Recovery and Resilience Facility (RRF) to Czechia, Germany, Italy, Portugal, and Romania, totaling EUR 26.8 billion in loans and grants. Under this latest disbursement, Romania received EUR 37.05 million as part of its second payment request. By comparison, according to the...
Romanian film trilogy Moromeții, directed by Stere Gulea, will be presented at the 54th edition of the Rotterdam International Film Festival, taking place from January 30 to February 9, 2025. This renowned European event, which annually presents hundreds of films across more than 20 sections, will feature the three films - Moromeții (1987), Moromeții 2 […]
Romania issued state aid worth EUR 1.3 billion during 2019-2023, with 62% of the projects being granted to foreign companies, according to an analysis conducted by EY Romania. The sectors that benefited the most from aid were the automotive industry, technology, manufacturing (light industry), medical industry, and the food and beverage industry. According to the […]
The Abracadabra – Secrets of Magic interactive exhibition will transform Arcub – Hanul Gabroveni in Bucharest into a magical universe starting December 27, 2024. Running until May 4, 2025, the event offers visitors the opportunity to explore a labyrinth of magic, featuring over 20 interactive attractions and more than 500 live performances by MAGITOT and […]
