Romania's | News

Romania's current account balance posted a deficit of EUR20.2 billion in January-November 2023, lower than the EUR24.3 billion level reported in the same period of 2022, central bank data showed on Friday (January 12, 2023).

The annual inflation rate posted a faster-than-expected decrease in the first two months of Q4/2023, falling to 6.72% in November, from 8.83% in September, amid the continued slowdown in the growth rate of food and energy prices, as well as following the decline in fuel prices, under the impact of lower crude oil prices, as per the minutes of the monetary policy meeting held by Romania's central bank on Friday (January 12, 2024).

Romania's annual inflation kept its downward trend in December 2023, ending the year at 6.6%, compared to 6.7% in November 2023 and 8.1% in October 2023.

Romania's Competition Council said it was analyzing the transaction through which Intesa Sanpaolo intends to acquire First Bank Romania from US-held private investment firm J.C. Flowers, as announced by the competition authority.

​The combined installed power of photovoltaic panels owned by prosumers was 1,300 MW at the end of October 2023 and, according to Romania's National Energy Regulatory Authority (ANRE), it is expected to reach 1,500 MW by the end of 2023.

ROCA Agri RDF, the agricultural holding company launched by ROCA Investments, announces that Romania's central bank has authorized the functioning of AGRO IFN, a Non-Banking Financial Institution (NBFI) in its portfolio, which is intended to cater to the financing needs of the agricultural sector.

Romania's current account balance posted a deficit of EUR18.3 billion in January-October 2023, lower by 20% than the EUR22.9 billion level reported in the same period of 2022, central bank data showed on Thursday (December 14, 2023).

Romania's annual inflation kept its downward trend in November 2023, decreasing to 6.7%, compared to 8.1% in October 2023 8.8% in September 2023, and 9.4% in August 2023 and July 2023, data from the country's statistics board INS showed on Wednesday (December 13).

Romania's hourly labor costs adjusted to the number of working days increased by 15.15% in the third quarter of 2023 compared to the third quarter of 2022, data from the country's statistics board INS showed on Tuesday (Dec 6).

Romania's energy ministry has signed a Memorandum of Understanding (MoU), thus strengthening the Romanian American strategic partnership in the field of mining and renewable energy in the region of Jiu Valley.

Romania's current account balance posted a deficit of EUR16.05 billion in January-September 2023, lower by 24% than the EUR21.14 billion level reported in the same period of 2022, central bank data showed on Monday (November 13, 2023).

Romania's annual inflation kept its downward trend in October 2023, decreasing to 8.1%, compared to 8.8% in September 2023 and 9.4% in August 2023 and July 2023, data from the country's statistics board INS showed on Monday (November 13).

Romania's central bank has kept its inflation forecast at 7.5% for the end of 2023, according to the Quarterly Inflation Report presented by central bank governor Mugur Isarescu on Friday (November 10).

Romania's national grid company Transelectrica (TEL.RO) announced in a stock market on Oct 16 the signing of a memorandum of understanding (MoU) to perform a feasibility study for the construction of a high-voltage direct current (HVDC) transmission line and conversion stations on the territory of Romania.

Romania's current account balance posted a deficit of EUR13.7 billion in January-August 2023, lower than the EUR18.5 billion level reported in the same period of 2022, central bank data showed on Friday (October 13, 2023).

Romania's annual inflation decreased to 8.8% in September 2023, after stagnating at 9.4% month-on-month in August 2023, data from the country's statistics board INS showed on Thursday (October 12).

The net flow of foreign direct investment (FDI) in the financial intermediation and insurance sector saw a 47.4% decline due mostly to removing restrictions on dividend payouts, which was imposed by Romania's central bank at the onset of the COVID-19 pandemic, in order to ensure the capital resources essential in dealing with the impact of the pandemic on the balance sheets of credit institutions, as per central bank data.

Romania's current account balance posted a deficit of EUR11.89 billion in January-July 2023, lower than the EUR15.2 billion level reported in the same period of 2022, central bank data showed on Wednesday (September 13, 2023).

Romania's annual inflation stagnated at 9.4% in August 2023, a level similar with the one reported in July 2022, data from the country's statistics board INS showed on Wednesday (September 13).

Romania's Fiscal Council has revised its 2023 budget deficit projection upwards to over 6% of gross domestic product (GDP), in the absence of measures aimed at correcting the budget gap, as per data from the Council's annual report.