Following a strong rebound in 2021, the global economy is entering a pronounced slowdown amid fresh threats from COVID-19 variants and a rise in inflation, debt, and income inequality that could endanger the recovery in emerging and developing economies, according to the World Bank’s latest Global Economic Prospects report. Romania’s economy has advanced by 6.3% in 2021 and will grow by 4.3% this year and 3.8% in 2023, according to the latest edition of the World Bank’s Global Economic Prospects. Last year’s advance was revised upward from 6% projected in June, with the forecast for 2022 and 2023 revised downward accordingly. Overall, WB’s scenario is only marginally less optimistic than Government’s assumptions. In Central Europe - a region including Bulgaria, Hungary, Poland and Croatia besides Romania - growth is forecast to moderate alongside the euro area, from 5.7% in 2021 to 4.7% in 2022 and 3.7% in 2023. Although activity is likely to be disrupted in the near term from the spread of the Omicron variant, the subregional economy will benefit from firming domestic demand over the forecast horizon. In particular, investment and government revenues are expected to be bolstered by funding from the European Union (EU) Recovery and Resilience Facility - the largest component of the Next Generation EU funds. If fully implemented as planned by end-2026, these reforms and investments could help lift productivity by narrowing the digital divide and accelerating technological adoption. Measures that improve administrative capacity and governance could help boost the absorption of these funds in Central Europe.
German company Henkel, with over 500 employees in Romania, has opened a new headquarters in Bucharest, marking a fresh chapter in its three-decade presence in the local market. The space blends Henkel’s “Smart Work” concept with Romanian cultural design elements inspired by Constantin Brâncuși and traditional motifs, while a dedicated quiet zone pays tribute to […]
Ruling on the draft law on the disbursement of privately-managed pensions, namely 2nd and 3rd Pillars, inked by the Financial Supervisory Authority (ASF), promoted by the Romanian government and approved with amendments by the Parliament, the Constitutional Court (CCR) concluded that the capping the single payment granted before the start of the monthly payments to […]
The revised bill that bans the cumulation of the public pension of a special (non-contributive) nature with a wage paid in the budgetary sector, currently available for public debate, will be amended so as to restrict the exceptions provisioned in the original form, labor minister Florin Manole said, according to
The Romanian business community reiterated its firm call to decision-makers to eliminate the minimum turnover tax (IMCA), in view of the discussions on the construction of the state budget for 2026, according to a statement signed by more than 100 employers' federations, business associations, and chambers of commerce in Romania. The Romanian government will address […]
Romanian president Nicusor Dan reiterated in a speech at the 2025 Digital Governance Summit organised by Edge Institute at Cotroceni Palace and published on the Presidency's webpage, thus making it somewhat official, an invitation addressed to the "private community" to draft regulations and sectoral policies that the state is unfortunately unable to design, such as […]
Premier Energy Group (BVB: PE), a leading vertically integrated utility company in Southeastern Europe listed on the Bucharest Stock Exchange, reported its normalized revenue grew 40% y/y to EUR 1.17 billion, while normalized EBITDA rose by 36% y/y to EUR 94 million in the first nine months of 2025. On a reported IFRS basis, revenue […]
