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.
Romanian director Cristian Mungiu will be part of the jury that will judge the films in the main competition of this year’s Venice Film Festival - Venezia 82. The jury, headed by American director Alexander Payne, includes French director and screenwriter Stéphane Brizé, Italian director and screenwriter Maura Delpero, Iranian director and writer Mohammad Rasoulof, Brazilian actress, writer, and […]
Romania continues to face significant prison overcrowding, according to the Council of Europe’s latest data, released on Friday, July 18. The 2024 Annual Penal Statistics on Prison Populations (SPACE I) show that Romania is among six countries in Europe with severe overcrowding, housing 116 inmates for every 100 available places. The report, which...
Chris Hemsworth returns to Disney+ in August with a new season of the National Geographic documentary series Limitless, this time focused not just on longevity, but on discovering how to live better. Titled Limitless: Live Better Now, the three-part season follows Hemsworth through physical, emotional, and mental challenges across six countries, with one standout episode […]
The Black Sea 200 Regatta 2025, Romania’s first non-stop offshore regatta with a 200 nautical mile route, takes place between July 21 and 27. Now in its first edition, the event brings together more than 10 boats from Romania and Bulgaria, according to the organizers. The endurance course will start and finish in the Romanian […]
The National Environmental Guard has fined an illegally operating zoo in Dâmbovița county, southern Romania, a total of RON 120,000 following a joint inspection that uncovered serious violations, including the lack of environmental authorization and inadequate conditions for wild animals kept in captivity. The zoo was reportedly charging RON 50 per person for entry and […]
The National Cybersecurity Directorate (DNSC) and engineering company Enevo Group have signed a strategic cooperation agreement to strengthen cybersecurity in Romania’s energy sector. The partnership aims to test and develop monitoring and alerting technologies for cyberattacks, and to improve national response coordination to incidents affecting critical infrastructure, the companies said. The agreement focuses on sharing […]
