The state budget for next year is built on an economic growth of 3.4pct, an average annual inflation of 6pct and a deficit of 5pct of GDP, according to the Fiscal - Budgetary Strategy 2024 - 2026 published on Wednesday."Internal demand will be the main element through the investment component represented by the gross formation of fixed capital (+6.5pct), the effect of the development of some important public and private investment projects, simultaneously with an increase in final consumption, slightly below that of the product gross domestic product, respectively 3.3pct. On the supply side, construction will continue to be the most dynamic sector with an increase in VAB (Vertical Assembly Building) of 7.1pct, based mainly on the attraction and efficient use of European funds. The tertiary sector will have in turn, a positive contribution to the economic advance with an increase of 3.5pct. For the industry, a modest increase of the gross added value was foreseen, respectively of 1.2pct, in the conditions of maintaining an uncertain geopolitical context," the document states.The Gross Domestic Product is estimated at 1,733 billion RON at current prices, and the budget deficit at 5pct of GDP, under the conditions of revenues of over 586 billion RON and expenses of 673 billion RON. The share of total expenses in GDP is estimated at 38.8pct, and that of revenues at 33.8pct of GDP.The total number of unemployed is estimated at 215,000 people and the average net salary at 4,733 RON.
REHAU, the German leader in polymer-based solutions for the construction, automotive, and industrial sectors, announced the appointment of Paul Chipriean as Country Manager for Romania at the beginning of this year, taking over for Alexandru Oprea, who will move on to a new strategic regional position. Concurrently, Paul Chipriean will also serve as Director of […]
Moldova will not compete in the Eurovision 2025 song contest. The decision was made "following a detailed analysis of the current situation, as well as economic, administrative, and artistic challenges," the organizers stated. The announcement was made on Wednesday, January 22, by the director of the national television Moldova 1, Corneliu Durnescu, and the head […]
Low-cost airline Wizz Air said that it continues its expansion at the Sibiu base with the allocation of a second aircraft in the summer of 2025, bringing the total number of aircraft in Romania to 33. The company will thus increase capacity in the Transylvanian city by adding over 320,000 seats, a 58% increase compared […]
The renovation and rehabilitation work on Romania's famous Constanța Casino is in its final stages, and the historic building may already host its first major event in March. The Casino is set to officially open to the public in the spring. Set for 2022, the official opening was delayed due to unforeseen problems, doubling the […]
Creating a website can often feel like a challenging task, especially for those without programming or design experience. To meet the needs of a growing market, Andrei-Fredy Crăciun created Loopple AI, a platform that allows users to build fully functional websites in less than a minute with the help of artificial intelligence – no technical […]
Romania will set up and operate its first fish farms in the Black Sea this year, as announced by environment minister Mircea Fechet, with certain areas already assigned for future farms. Investments are long overdue, as discussions about fish farms in the Black Sea have been ongoing for decades in Romania, while similar investments have […]
