The Romanian economy will grow by 1.3% this year, compared to a 2.1% level forecast in January, according to the latest report on the “Global Economic Prospects”, published on Tuesday by the World Bank. Also, in 2026, Romania’s GDP growth is expected to be 1.9%, compared to a level of 2.6% forecast in January by the World Bank. Economic growth is expected to improve in 2027, to an advance of 2.5%. According to the international financial institution, unlike other regions, and despite a difficult external environment, economic growth in Central Europe is forecast to strengthen to 2.4% in 2025. The new fiscal package adopted in Germany could help counteract some of the external brakes, which could benefit the region, which sends about 22% of its exports to Germany, especially Poland and Romania. Globally, the World Bank has cut its global growth forecast by 0.4 percentage points to 2.3%, saying high tariffs and heightened uncertainty are creating problems for almost all economies. In a report published on Tuesday, the World Bank cut its forecasts for nearly 70% of all economies, including the US, China and Europe, as well as six emerging regions, from the levels it had forecast just six months ago, before Donald Trump took office. While it does not expect a recession, the international financial institution said that this year’s global economic growth rate will be one of the weakest in decades, with the exception of the 2008 recession. By 2027, global GDP growth is expected to average just 2.5%, the weakest growth rate for any decade since 1960. The World Bank also projects that global inflation is expected to reach 2.9% in 2025, remaining above pre-COVID levels, given tariff increases and tight labor markets. “Risks to the global outlook remain firmly tilted to the downside,” the World Bank said. It calculated that a further 10 percentage point increase in US tariffs, on top of the 10% already in place, and a commensurate response from other countries, could shave another 0.5 percentage point off its 2025 outlook. The World Bank is the latest international institution to revise its growth forecasts in the wake of Trump’s chaotic trade policies, even as US officials insist that any negative consequences will be offset by increased investment and tax cuts to be approved.
Around 32% of Romanians plan to spend their upcoming holidays abroad, with Greece, Italy, and Spain topping the list of preferred destinations, according to the Visa CEE Travel and Payment Intentions Study 2025. Of those going abroad for the summer, nearly 40% say they are “experience seekers,” prioritizing discoveries and stepping out of their comfort […]
Călin Georgescu, the far-right, Russia-friendly politician who surprisingly emerged as the first-round winner of last year’s presidential elections, will remain under judicial supervision after the District 1 Court in Bucharest rejected his appeal against the prosecutors’ decision to extend the preventive measure,
The mayor of Timișoara, Dominic Fritz, will be the new leader of the Save Romania Union party, or USR, after he received 67.2% of the votes in an internal race. The vote for the new party president was conducted online and started Wednesday at 10 AM and ended Friday at noon. A total of 10,914 […]
The Sports Barometer in Romania, a study conducted by IRES and presented on Thursday, June 12, during the Sports Festival, reveals that 32% of Romanians do not engage in any type of physical activity, and that as age increases motivation drastically decreases. According to the study, 28% of Romanians are super-active and do a form […]
The Romanian-American University has officially launched the country’s first Department of Latin American Studies (DSLA), marking a significant step in its internationalization efforts. The inauguration brought together official representatives from eight Latin American countries - Argentina, Brazil, Chile, Colombia, Cuba, Mexico, Peru, and Uruguay - underlining the strong diplomatic support for deepening educational and cultural […]
Romanian president Nicușor Dan laid wreaths on Friday, June 13, at the Monument dedicated to the memory of the victims of the June 13–15, 1990 Mineriad and at the “Kilometer Zero of Democracy” Monument. The violent events of June 1990 remain in post-communist memory as the “June 13–15, 1990 Mineriad” and refer to the repression, […]
