Romania's | News

Romania's energy minister Sebastian Burduja has signed 24 financing contracts worth RON68 million (EUR13.6 million), through the Modernization Fund, in order to support investments in new electricity production capacities from renewable sources for self-consumption for public entities.

Romania's current account deficit stood at EUR9.17 billion in January-May 2024, higher by 34% than the EUR6.8 billion level recorded in the same period of 2023, central bank data showed on Monday (July 15, 2024).

Romania's annual inflation decreased to 4.9% in June 2024, compared to 5.1% in May 2024 and 5.9% in April 2024, data from the country's statistics board INS showed on Thursday (July 11).

Foreign Minister Dmytro Kuleba called on partners to follow Romania's example and provide Ukraine with additional Patriot systems and other air defense equipment.

Romania's Competition Council has conducted unannounced inspections at the premises of 14 companies active on the Romanian information and communication technology (IT&C) equipment market.

Romania's current account deficit stood at EUR6.5 billion in January-March 2024, higher by nearly EUR1.5 billion (+26%) compared to the level reported in the same period of 2023, central bank data showed on Thursday (June 13, 2024).

Romania's annual inflation decreased to 5.1% in May 2024, compared to 5.9% in April 2024, data from the country's statistics board INS showed on Wednesday (June 12).

Romania's economy inched up 0.1%, in unadjusted data, and grew by 1.8% In seasonally adjusted data, in the first quarter of 2024 compared to the same period of 2023, in line with provisional (1) estimates from the country's statistics board INS.

Romania's hourly labor costs adjusted to the number of working days increased by 16.45% in the first quarter of 2024 compared to the first quarter of 2023, data from the country's statistics board INS showed on Tuesday (June 4).

Romania's annual inflation rate is expected to decline to 4.9% in December 2024, from a previous projection of 4.7%, and to fall only marginally inside the variation band of the target at the end of the projection horizon, i.e. to 3.4% in March 2026, in line with prior forecasts, as per the minutes of the monetary policy meeting of the Board of Directors of Romania's central bank, of May 13, 2024, released on May 23.

Romania's current account deficit stood at EUR3.94 billion in January-March 2024, slightly lower than the EUR3.96 billion level reported in the same period of 2023, central bank data showed on Tuesday (May 14, 2024).

Romania's annual inflation decreased to 5.9% in April 2024, compared to 6.6% in March 2024 and 7.2% in February 2024, data from the country's statistics board INS showed on Tuesday (May 14).

Romania's central bank has decided at its Board meeting on Monday (May 13, 2024) to keep its key interest rate unchanged at 7% a year, being the bank's fourth consecutive rate freeze in 2024 and the seventh consecutive freeze in 2023.

The annual inflation rate will decline further in the coming months, but at a slower pace compared to 2023 and on a slightly higher path than that anticipated in the February 2024 medium-term forecast, which had seen it go down to 4.7 percent in December 2024 and to 3.5 percent at end-2025, members of Romania's central bank Board said in the minutes of the monetary policy meeting of April 4, 2024.

Romania's e-commerce market is growing further, but its growth is slow, as per an analysis by MerchantPro, the local SaaS solutions platform for e-commerce, based on data recorded by online stores active on the platform.

Romania's annual inflation decreased to 6.6% in March 2024, compared to 7.2% in February 2024 and 7.4% in January 2024, data from the country's statistics board INS showed on Thursday (April 11).

Romania's central bank has decided at its Board meeting on Thursday (April 4, 2024) to keep its key interest rate unchanged at 7% a year, being the bank's tenth consecutive rate freeze.

Romania's government debt reached RON802 billion in January 2024, in line with the latest finance ministry data.

Romania's beer market continued to decline in 2023 for the second consecutive year, reaching 15 million hectoliters, 5% fewer than in 2022, in line with data provided by the Romanian Brewers Association.

Romania's economic growth of 2.1% in 2023 was generated almost 50% by the construction sector, which ended up accounting for 8% of the country's GDP, compared to 6% in 2018.