Romania’s economy posted a surprising 6.5% growth rate in the first quarter, but economists predict a significant slowdown for the rest of the year, euractiv.com reads. Romania’s GDP grew 6.5% in the first quarter of 2022 compared with the same period of 2021, the statistics institute said in a flash estimate Tuesday (17 May). Against the previous quarter, the GDP growth was 5.2%, coming after a considerably lower advance in the fourth quarter of 2021. The statistics institute revised previous data so that a small contraction of 0.1% in the last quarter of 2021 compared with the previous three-month period became a growth of 1%. The data is still preliminary, and more detailed figures on the first-quarter GDP will be released in June. Romania’s government initially estimated economic growth above 4% for the full year, but its forecast has since been reduced to less than 3%. The European Commission has recently said Romania’s economy would grow by 2.6% in 2022, down from 5.9% in 2021, as high inflation will reduce purchasing power and private consumption, while economic sentiment is affected by the war in Ukraine.
Accor, a global leader in hospitality, has announced the expansion of its presence in Romania by signing a franchise agreement with Amazonia Aquapark SRL for Novotel Timișoara. The newly built hotel is scheduled to open by the end of 2027, marking the brand's first property outside Bucharest and becoming a flagship for Novotel in Eastern […]
A survey published on Wednesday, May 14, by the Open Minds Association shows that Romanians strongly support respect and mutual support in the workplace, signaling that the business environment can play a critical role in supporting social unity. According to the first data set from the “Diversity and Inclusion Barometer,” May 2025 edition, 81% of […]
Eight of the largest business organizations active in Romania have voiced their concern over the accelerating deterioration of the business climate and the erosion of Romania’s credibility. The call is signed by AmCham Romania – American Chamber of Commerce in Romania, AOAR – Association of Romanian Businessmen, AHK – Romanian-German Chamber of Commerce and Industry, […]
Low-cost carrier Wizz Air announced six new routes from Timișoara and Brașov, two major cities in western and central Romania, respectively, as well as a third aircraft allocated to its Timișoara base. The additional aircraft will support the launch of five new international routes from Timișoara to Larnaca, Nuremberg, Basel, Frankfurt Hahn, and Naples, with […]
The Ploiești Court of Appeal reinstated the status of protected natural reserve for the Crâng Forest, a remnant of the famous Vlăsiei Woods, in a ruling made public on Tuesday, May 13. In 2024, the Buzău County Council approved the revision of a 1995 decision concerning the protection of natural areas and monuments, removing Crâng […]
Cristina Uruc, interim manager of Romania’s Artexim - the organizer of the George Enescu International Festival and Competition, has been unanimously elected president of the European Association of Artist Managers (AEAA). The decision was made during the organization’s General Assembly held recently in Istanbul, hosted in partnership with Borusan Sanat, one of Turkey’s leading cultural […]
