It is possible that the economic growth in Romania will be even lower than 4% in 2022, and a large number of bankruptcies are not excluded, said Ionut Dumitru, chief economist of Raiffeisen Romania. He reasoned that not all producers would be able to transfer to customers the sharp energy price increases, eventually incurring big losses."Given the imminent staggering growth in energy prices, I refuse to believe that producers will remain untouched," he explained, quoted by Wall-street.ro. The industrial prices have indeed soared by 28% YoY as of November (latest data available), while the consumer price inflation - although very high in absolute terms - can not catch up with such advance. As regards the monetary policy, Dumitru argues that the National Bank of Romania (BNR) is well behind its peers and must move fast to close the gap by steeper rate hikes. BNR is expected to operate 50bp rate hikes in each of the coming two monetary board meetings, Raiffeisen Romania's chief economist said.
President Nicușor Dan has nominated Senate president Ilie Bolojan, a leader of the National Liberal Party (PNL) and former interim president, for the prime minister seat. Dan said Bolojan is “the best person to carry out the needed adjustments in the state administration.” He pointed to Bolojan’s track record with reducing spending, and said he has […]
Balkanik Festival – Home of World Music, set to take place at Uranus Garden between September 5 and September 7, lines up this year artists who "celebrate that form of joy that does not ignore reality, but faces it with beauty, energy, and solidarity," the organizers said. The artists performing in September in Bucharest will […]
The mayor of Timișoara, Dominic Fritz, announced on Friday, June 20, that two new bridges over the Bega River will be built in the city. The bridges will be financed with EU-backed funds worth over RON 130 million. The bridges in question are the Solventul Bridge, which will connect Gării Street to Dâmbovița Boulevard and […]
A Sarmatian necropolis nearly 2,000 years old was discovered after archaeological excavations were carried out at the Mehala II site in the municipality of Timișoara, in western Romania. Researchers discovered 15 inhumation graves, most arranged in rectangular pits with rounded corners, although some no longer retain their original outline, having been disturbed by the passage […]
The George Enescu Philharmonic Orchestra will deliver on June 26 a concert marking Romania Day at the Osaka World Expo. Additionally, the Bucharest-based orchestra will present a series of other concerts and recitals, both within the Romanian Pavilion and outside, at Toyonara Hall in Osaka. The George Enescu Philharmonic Orchestra's concerts will be conducted by […]
Sphera Franchise Group, the largest food service group in Romania, has opened its first Cioccolatitaliani store in the seaside resort of Riccione, in Italy’s Rimini tourist area. This marks the official launch of Sphera Group’s development plan for the premium Italian brand of coffee, gelato, and pastry. Under the plan, it will open four locations […]
