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.
More than 680 houses in Suceava country and 170 houses in Neamţ county were impacted in the flash floods that hit northeastern Romania at the end of last week. Forty-one houses were completely destroyed, Raed Arafat, the head of the Department for Emergency Situations (DSU), announced on Friday, August 1. Three people were killed in […]
Romanian justice minister Radu Marinescu said on Thursday, July 31, that harsher penalties are being considered for violence against women and domestic violence, including the criminalization of femicide. The minister said that Romania currently has legislation that is fairly adequate, in line with European standards, for combating violence, including domestic violence. He also said that […]
Via Transilvanica, the long-distance trail that crosses the country, will apply to be the first accredited long-distance route in Romania after the government issued the methodological norms regulating the hiking trails of national interest. Tășuleasa Social, the non-profit that developed the trail, called the recently issued norms "a huge step that transforms a bold idea into...
Former prime minister and Social Democratic leader Marcel Ciolacu stated that he does not rule out a candidacy for the presidency of the Buzău County Council, after rumors to that end. PSD Buzău president Romeo Lungu had previously told journalists that discussions are underway for the former prime minister to run for the Buzău County […]
The Balneo-Physiotherapy Clinic in the Călimănești resort town, southern Romania, will undergo rehabilitation with a EUR 10 million financing from the European Union, according to representatives of the Vâlcea County Council. The project implementation period will be 24 months from the completion of the tender for the execution of the works, which include, in addition […]
Bringo, the first personal shopper-based rapid grocery delivery service in Romania, handling over 4,000 daily orders in more than 35 cities, launches a loyalty program that turns shopping into a continuous reward experience. "Beyond functional benefits like discounts, free delivery, or double refunds for SGR packaging collected right at your doorstep, Bringo YOU offers a […]
