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.
The government approved on December 17 an emergency ordinance by which the Ministry of Finance allocates almost RON 2.5 billion (nearly EUR 500 million), intended for the payment of arrears of the Ministry of Development (MDLPA) and the continuation of public investments. This comes on top of RON 1.35 billion allocated to the Ministry of […]
It’s the last weekend before Christmas and another chance to search for presents or enjoy the season’s music.
The government adopted an emergency ordinance on December 17 requiring all local authorities to approve, by December 31, the local taxes and fees that will apply in 2026, effectively forcing city halls to implement substantial property tax increases in line with guidelines already legislated, Ziarul Financiar...
In a meeting on Wednesday, December 17, the leaders of Romania's four-party ruling coalition agreed on the last bills to be included in the second package of budgetary measures – primarily the public administration law, but also the minimum tax on turnover, the minimum wage, and the reduction of some other public expenditures. The parties […]
Metinvest announced on Wednesday, December 17, that it completed the acquisition of ArcelorMittal Tubular Products Iași, in eastern Romania. The plant produces welded structural pipes for the construction, engineering, infrastructure, and agricultural sectors, with a maximum annual production capacity of 240,000 tonnes. The plant is Metinvest’s first production site in Romania. Negotiations on its acquisition […]
Romanian president Nicușor Dan was received by King Charles III at Buckingham Palace on Wednesday, December 17, during his official visit to the United Kingdom, marking the final stage of his trip to London. The head of state also met with Romanians who welcomed him during the visit. President Dan posted a brief message alongside […]
