Romania's Gross Domestic Product (GDP) grew by 0.9% in Q2 2023, compared to the first three months, and it increased by 1.7% in H1 as unadjusted series and by 2.8% as seasonally adjusted series compared to the same period in 2022, according to provisional data released Thursday by the National Institute of Statistics (INS).Compared to the same quarter of 2022, GDP grew by 1.1% as unadjusted series in Q2 2023 and by 2.7% on a seasonally adjusted basis."The seasonally adjusted series of quarterly Gross Domestic Product did not change significantly, as a result of the revision of the estimates for the second quarter of 2023, compared to the "signal" version published in the press release no. 202 of August 16 2023," the INS states.Gross Domestic Product - seasonally adjusted data - estimated for Q@ 2023 stood at 39.5152 billion RON current prices, up - in real terms - by 0.9% compared to Q1 2023 and by 2.7% compared to Q2 2022, although in nominal terms there was a slight decrease compared to the previous quarter.In terms of GDP use, the increase was mainly due to: household final consumption expenditure, whose volume increased by 3.9%, contributing +2.5% to GDP growth, and gross fixed capital formation, the volume of which increased by 11.2%, contributing +2.5% to GDP growth.Net exports also made a positive contribution to GDP growth (+1.0%), as a result of a 0.3% increase in the volume of exports of goods and services combined with a 1.7% decrease in the volume of imports of goods and services.
Salt Bank, the first 100% digital Romanian bank built entirely from scratch, has been named by Celent as the 2025 Model Bank for Digital Bank Launch. Celent is one of the world’s most prestigious research and advisory firms focused on technology for financial institutions. By receiving the title of "2025 Model Bank for Digital Bank […]
The 8th edition of the national educational program “Healthy Lifestyle, Diverse Nutrition and an Eco-Responsible Attitude” under the motto “Good for Taste, Good for Health, Good for the Planet!” has concluded. The program was organized by the Taste Celebration Association and funded by the Auchan Foundation with 100,000 euros. The program aims to convey to […]
Romania's budget deficit, meaning the gap between revenues and expenditures, reached 3.39% of GDP after the first five months of the year, while the new government grapples with balancing initiatives. The deficit increased compared to the first four months, when it stood at 2.95% of GDP, and remained roughly stable compared to the first five […]
eLog, a Balkan-based provider of reusable transport packaging systems for the retail sector, has entered the Romanian market by leasing 4,000 sqm of warehouse and office space at CTPark Bucharest North. The facility, developed by CTP, will serve as eLog’s first operational hub in Romania, supporting its expansion into local retail logistics. Specializing in Retail […]
More than three-quarters of Romanians (76%) see Artificial Intelligence as an opportunity for the economy and society, although half of them also acknowledge its risks, according to a new RoCoach and Novel Research study. Overall, over one-third of respondents (35.7%) believe that AI will primarily lead to job losses, even if new types of roles […]
Prosecutors with Romania's General Prosecutor's Office have formally changed the legal status of former presidential candidate Călin Georgescu from suspect to defendant, judicial sources told Agerpres on Friday, June 27. The decision comes after Georgescu quoted Corneliu Zelea Codreanu, the leader of...
