The upward revision of the inflation trajectory puts pressure on the payrolls earmarked by the private companies in Romania for 2022, according to the second part of the PayWell 2021 study conducted by PwC Romania. While the companies previously estimated at an average increase of wages of 7%, the rate should be revised upwards by 2-3 percentage points, to compensate for the loss of purchasing power, according to the study. According to a company statement, most companies drafted their budgets at the end of the summer, when inflation still stood at 4%. By the end of the year, inflation is expected to exceed 7%, which could lead to a revision of the payroll.Romania’s headline inflation is expected to hit 7.5% YoY at the end of the year (compared to 5.6% YoY projected in August and 4.1% YoY in May), to rise to 8.6% YoY at the end of the second quarter next year as the temporary energy bill subsidies are phased out, and ease to 5.9% YoY at the end of 2022, under the revised inflation outlook revealed by the National Bank of Romania (BNR) on November 11.
Romania will double its gas production and bring EUR 20 billion into the national economy thanks to the Neptun Deep project in the Black Sea, according to energy minister Sebastian Burduja. The statements were made on Thursday, March 27, during a government meeting. The minister noted that the Neptun Deep project will make use of […]
The government adopted on Thursday, March 27, an Emergency Ordinance allowing Romanian citizens who reside in an EU member state to obtain electronic identity cards that also serve as travel documents. Government spokesman Mihai Constantin stated that the measure guarantees the right to free movement and residence within the European Union. "For citizens who can […]
Untold, the globally recognized festival born in Romania, is set to return for a second edition in Dubai from November 6-9, at a larger venue, Dubai Parks and Resorts. The event promises an even bigger and better experience, showcasing a diverse lineup of musical genres and visual productions. “We were motivated by the joy and […]
Ten years ago, filmmaker Șerban Georgescu bought 250 kg of cabbage for 10 euros (his mother needed all for pickling!) and so he made an experiment: he added a new profession to his résumé and went to plant potatoes and cabbage for one year and see if there was a way to make more than […]
The Romanian Cycling Federation, or FRC, announced the dates and route of the 2025 edition of the celebrated Tour of Romania during an event at the Bucharest Chamber of Commerce and Industry on Thursday, March 27. The event will involve 26 teams in total. The 860-kilometer race will start on September 10 in Craiova, and the […]
The General Council of Bucharest approved on Thursday, March 27, a decision allowing pets, including dogs and cats of all sizes and breeds, to enter the headquarters of the City Hall and local institutions of public interest. However, pets will still be prohibited in hospitals, museums, theaters, and the Zoo, Agerpres...
