The International Monetary Fund (IMF) revised its forecast for Romania’s economy upwards to 7% under its October 12 World Economic Outlook (WEO), up from 6% envisaged under its spring forecast round. (Details on :https://www.imf.org/en/Publications/WEO/Issues/2021/10/12/world-economic-outlook-october-2021?mc_cid=51539b3358&mc_eid=cd1f92f96c) Nothing surprising, the figure is in line with the Government’s expectations and the latest World Bank forecast (+7.3%). Among the European Union countries, only Ireland (13%), Estonia (8.5%) and Hungary (7.6%) will grow faster than Romania. The country’s economy will further rise by 4.8% in 2022 to later stabilise around a growth rate of 3.5% (2026) under the Fund’s scenario. On the downside, the IMF has revised its forecast for Romania’s current account (CA) and inflation forecast upwards. While the inflationary path is in line with a global pattern, Romania’s structural external deficit is specific to its economy and a growing concern. The IMF expected under its spring forecast that Romania’s CA gap would subside to 4.5% of GDP (from 5.2% in 2020), but it revised its projection to 5.7% of GDP in 2021 and 5.5% of GDP in 2022.
The Romanian Olympic and Sports Committee (COSR) announced the team for the European Youth Olympic Winter Festival (EYOF) Bakuriani 2025, which will take place in Georgia from February 9 to 16. Twenty athletes will compete in four disciplines, namely biathlon, alpine skiing, cross-country skiing, and snowboarding. The biathlon team comprises eight athletes, evenly split between […]
About 5.7 tons of waste, including over 3 tons of plastic, have been collected in the last two years from several of Romania’s rivers through the log boom system, the Romanian Waters National Administration (Apele Române) announced. The project has focused on major rivers across Romania, such as the Jiu River in Rovinari, where 3,100 […]
Anglo-Dutch multinational Unilever, one of the largest players in the food and non-food consumer goods market, is closing its ice cream factory in Veliko Tarnovo, Bulgaria, and moving part of the production to Romania, in Suceava, according to Ziarul Financiar. The move comes just a few months after Unilever announced that it would separate its […]
Romania received another F-16 Fighting Falcon aircraft from Norway this week, completing the 48th Fighter Squadron with a full fleet of 16 fighter jets. The aircraft landed at the "General Emanoil Ionescu" 71st Air Base in Câmpia Turzii on Thursday, January 30. The acquisition is part of a broader initiative aimed at enhancing Romania's security […]
Romanian football team FCSB was defeated 0-2 by the UK’s Manchester United on Thursday, January 30, in the last round of the main group stage of the Europa League. The Romanian champions finished their group in 11th and secured qualification for the competition's play-offs. Roughly 3,000 English fans were present in Bucharest for the match. […]
A new market analysis by independent French company nPerf revealed a competitive landscape in the mobile technology sector in Romania. Orange continues to hold its position as the market leader, as its subscribers enjoyed the best mobile internet performances in 2024, including for 5G. The barometer analyzed various factors, such as download...
