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.
West Beton, part of West Group, produced and delivered, through its three production sites, more than 200,000 cubic meters of ready-mix concrete in 2025. Over 90% of total deliveries went to residential projects, including HILLS Nord, the third phase of Nusco City, and developments by companies such as Hagag or Pedro Construct. The rest of […]
The government has added four more companies to the list of the first 17 that entered the reform process and the analysis of the Interministerial Committee for Supporting the Implementation of Reform 9 (CNR9), led by deputy prime minister Oana Gheorghiu. These are CNCAF Minvest, Romaero, CNMPN Remin, and Avioane Craiova, companies from the portfolio […]
Almost 180 magistrates in Romania joined an action group denouncing the compromised judicial system in the country, allegedly controlled by High Court president Lia Savonea, after judge Raluca Morosanu publicly confirmed the allegations expressed by Laurentiu Besu in the "Captured Judiciary" documentary released by investigative platform
Romania has confirmed its first case of leprosy in more than 40 years, with three other suspected cases currently under clinical and microbiological investigation, health minister Alexandru Rogobete announced on Thursday, December 11. All four individuals are women from Asia who were employed as masseuses at a spa salon in Cluj-Napoca. The first two patients, […]
The fund Cultura Face Bine, a national funding mechanism for cultural projects backed by private-sector financing, will begin supporting local cultural organizations in 2026. The fund aims to support grassroots cultural initiatives with a proven impact in their communities and which need resources to continue, develop, or transform their activities. The funding mechanism has been […]
