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.
The Romanian stock market benchmark – the BET Index – officially crossed the 20,000-point threshold on Tuesday, July 25, 2025, marking a major milestone in its recent surge. The BET has gained about 7.5% in the last month, setting several new record highs on its path to 20,000 points. However, the Bucharest Stock Exchange’s recent […]
If you operate as a crypto broker, you might have come across a crypto broker program — a specialized service designed to enhance broker operations, expand service offerings, and optimize how they serve their end clients. These platforms have grown in popularity, offering streamlined access to the digital asset space with tools designed to suit both […]
For its 2025-2026 season, the George Enescu Philharmonic will bring to Bucharest more than 70 Romanian and foreign conductors and soloists of top level, 75% of whom are present for the first time in its artistic programming, the institution said. Among the names that will take the stage of the Romanian Athenaeum in Bucharest starting this […]
The Neuman House, a protocol residence for former communist dictator Nicolae Ceaușescu situated in the city of Arad, in western Romania, is up for sale for EUR 2.4 million, according to an online listing by an international agency specializing in luxury property brokerage cited by Agerpres. The building belonged to the noble Neuman...
During a press conference held on Tuesday, July 29, Romanian prime minister Ilie Bolojan presented the main measures from the magistrates' pension reform project, which will be included in the third fiscal package. The project includes raising the retirement age and capping pensions. The reform is urgent and necessary, said the official, who also warned […]
UNICEF has launched the Romanian-language version of the podcast On My Mind (În Mintea mea), created to support young people's mental health, with the support of global streaming platform Spotify. The Romanian-language version of the podcast complements the work carried out by UNICEF in Romania, which is currently implementing an initiative aimed at promoting the […]
