Romania's long-standing partnership with the World Bank Group continues to play an important role, especially in the current geopolitical context, which requires constant efforts for an efficient mobilisation of available resources and assistance.The latest developments in the relationship between the two entities, including the release in October 2024 of the Country Partnership Framework 2025-2029, were analysed during a meeting on Monday of the Minister of Finance, Tanczos Barna, Executive Director of the World Bank Eugene Rhuggenaath, and Country Manager for Romania Yasser El-Gammal.During the discussions, the Tanczos voiced appreciation for the constant support that the organisations of the World Bank Group grant it in promoting reforms and investments essential for Romania's development. At the same time, he said that securing balances is a key priority for strengthening resilience and increasing competitiveness, requiring sustained and coordinated efforts from the authorities."In the current difficult economic and geopolitical context, it is important to take full advantage of the new governance framework and implement it in a way as to ensure sustainable economic growth, as well as the implementation of the necessary reforms and investments. We assured the World Bank team that the 2025 budget reflects this approach and aims to comply with the commitments in the budgetary-structural plan in the medium term. We have committed to reducing the deficit to 7% in 2025 and we have built a budget that provides for record investment, with Romania continuing to be at the top of the EU states, in terms of the level of public investment - reaching 7.8% of GDP. I am convinced that the solid partnership between Romania and the World Bank will continue to help us in the process of economic development," said Tanczos.According to the Romanian Finance Ministry, the World Bank Group's flexibility and ability to react quickly to respond to specific needs is reflected in a balanced manner in the current Country Partnership Framework. It will allow, through the variety of support opportunities offered (both financially and through technical assistance), supporting Romania's priority reforms and investments, rounding up the activity of other development partners.+
The Constitutional Court of Romania (CCR) admitted, on March 11, the objection of unconstitutionality regarding military pensions and decided that the Law supplementing Law no. 223/2015 on state military pensions is unconstitutional, according to Europa Libera Romania. The draft provides...
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Sales of electronics, home appliances, IT, and telecom products in Romania rose by approximately 10% in 2024 compared to the previous year, according to an analysis by Ziarul Financiar based on data from market research company NielsenIQ. The electro-IT market recorded steady growth across all segments, though...
The headline inflation in Romania edged marginally above 5% y/y in February from 4.95% y/y in January, but well above the 4.7% y/y market consensus and probably also above the central bank’s expectations – thus putting into question the monetary authority’s (recently revised) 3.8% y/y inflation forecast. The monthly inflation remained at an elevated rate […]
Romania’s industrial production contracted by 2.5% y/y in January, with a slightly milder decline of 2.3% y/y in the core manufacturing industries, the statistics office INS announced. However, there are positive signs: the workday-adjusted industrial output increased by 2.1% y/y (reflecting the smaller workday count in January 2025 compared to 2024) and the seasonally- and workday-adjusted industrial […]
Romania will begin issuing the new Electronic Identity Card (CEI) on March 20, starting in Cluj County, with a gradual nationwide rollout to follow. The initiative was finalized after the Romanian government approved three decisions on March 13, setting the regulatory and technical framework for the new ID card system. The issuance of the new […]
