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.
Real estate investment and development company Global Vision has announced its first entry into the retail sector with a commercial project in Oradea, northwest Romania. The investment exceeds EUR 10 million and is part of the company’s broader EUR 150 million investment pipeline. The new retail development, named Oradea Retail Plaza, will be located in […]
Low-cost carrier Wizz Air has added a second aircraft to its base at Sibiu International Airport and announced a significant expansion of its operations in the Romanian city. The airline, which has been present in Sibiu for more than a decade, is now offering over one million seats to and from Sibiu, representing a 48% […]
Romania’s main trade union confederations are preparing coordinated protest actions and considering a general strike in response to the government’s new fiscal and austerity measures, Economica.net reported. The decision was made during a meeting of union leaders evaluating the impact...
The Coalition for the Digital Economy, which brings together companies such as Uber, Glovo, Wolt, Bolt, Bringo, and Lime, in response to Ziarul Financiar's claims that the drivers of the ride-hailing operators are avoiding taxes and social security contributions, assured that this is not the case. ...
Romanian energy group OMV Petrom (BVB: SNP) will decide by the end of September on the special dividend, based on the progress of the investment projects, the impact of the present and future fiscal reforms implemented by the government, and the market conditions, the company's CFO Alina Popa explained, quoted by Cursdeguvernare.ro. ...
Romania’s teachers’ unions announced on August 5 that education minister Daniel David has pledged to ask prime minister Ilie Bolojan to drop some of the most contested measures from the government’s first package of reforms, Hotnews.ro reported. The...
