The macroeconomic confidence indicator of the CFA Romania Association dropped to 36.5 points. The financial analysts estimate an economic growth of 2.9% and inflation of 9.5% over the next year. ‘The macroeconomic confidence indicator of the CFA Romania Association dropped to 36.5 points. This situation is due to the drop, of over ten points of the components of current conditions. The anticipated rate of inflation for the horizon of 12 months continued to grow, getting to an average value of 9.50% as the answers were offered previously to the publication of the inflation rate for May’ the association says. As regards the exchange rate euro/leu, 88% of the participants anticipate a depreciation of the leu for the next 12 months ( as compared to the present value)not being registered any opinion of appreciation. Thus the average value of anticipations for the horizon of 6 months is 5.0298 lei for one euro, while the horizon of 12 months has the average value of the anticipated exchange rate 5.1125 lei/euro. “Amid the risk aversion triggered by Russia’s invasion of Ukraine, as well as high inflation, the anticipation component of the CFA Romania Association’s macroeconomic confidence indicator continued its decline in May, reaching values similar to those reached at the beginning of the corona pandemic. Inflation expectations continued to rise, with the expected inflation rate reaching a new historic high in the survey. Regarding the evolution of interest rates, the participants in the survey anticipate the increase of the monetary policy interest rate by the national Bank to at least 6% in the next 12 months,” says Adrian Codirlasu, CFA, vice president of CFA Romania Association. The deficit of the anticipated state budget for 2022 : the average value of anticipations has increased to 6.5%. The evolution, in real terms of GDP for 2022 has increased at 2.9%. ‘It is remarkable the reduction of the share of interviewees who think that the price of real estate properties in the big cities will increase over the next 12 months (8% the lowest level since September 2020), at the same time with the increase of the share of interviewees who consider that price will drop (56%, the highest share since the survey). At the same time, 72% of the interviewees in the survey consider the prices of residential properties in the main cities as being over evaluated.
Henry Páll Wulff, a German citizen living in Romania and former co-chair of Volt Romania political party, emphasizes how the disparate challenges and shifting dynamics in Romania underline the importance of understanding global trends. The year 2024 brought a wave of significant elections worldwide, from the United States to Europe and beyond. Against this backdrop, […]
Social Democrat (PSD) leader Marcel Ciolacu has been appointed by president Klaus Iohannis to form the new government, with the prime minister set to request a vote of confidence from Parliament later today, December 23. Ciolacu thus returns to Victoria Palace as head of government, backed by the newly-emerged ruling coalition. The new cabinet will […]
Igor Feio, a Portuguese citizen living in Romania for over ten years, shares his view on the Constitutional Court's recent decision to cancel the first round of the presidential elections in the country. On November 24, about 9 Million people expressed their vote in the 1st round of the Presidential Elections. It was a somehow […]
Romanian members of Parliament elected new presidents for the Senate and Chamber of Deputies after negotiations within the new ruling coalition formed between the Social Democrats (PSD), the National Liberal Party (PNL), the Hungarian minority party UDMR, and the ethnic minorities group. The coalition elected PNL interim leader Ilie Bolojan as the new head of […]
Romania is quickly becoming one of Europe’s most desirable destinations for expats, thanks to its affordability, vibrant culture, and strategic location in the heart of Europe. Whether you’re considering citizenship, a nomad visa, or residency, each pathway offers unique benefits tailored to different lifestyles and goals. In this article, we’ll explore these options in depth […]
Amsterdam-based DRI, the EU renewables arm of Ukrainian energy company DTEK, announced the signing of the “largest physical solar power purchase agreement (PPA) in Romania” with OMV Petrom, the leading integrated energy producer in Southeastern Europe. The agreement groups three PPAs with OMV Petrom over an 8.5-year period for approximately 100GWh per year at a […]
