Category: Uncategorized

Romania’s statistics office INS revised Q2 GDP upwards by 3% to RON 421 bln (EUR 84.6 bln) under the second preliminary estimate. It improved only marginally the annual growth rate for the quarter, from 0.8% y/y to 0.9% y/y. Consequently, the growth rate for the entire H1 was maintained at 0.7% (+1.4% y/y if adjusted…

Romania’s exports contracted by 7.5% y/y to EUR 6.55 bln in August, while imports dropped by 3.0% y/y to EUR 9.43 bln amid a combination of subdued economic activity across Europe and still strong domestic demand at home, according to data published by the statistics office INS. The trade deficit consequently widened by 9% y/y…

The net average wage in Romania edged down in August compared to July, but the 13.8% y/y nominal advance (+14.8% y/y in July) resulted in a still substantial 8.3% y/y real increase as the inflation kept easing, according to data published by the statistics office INS. In absolute terms, the net average wage reached RON…

Janna Damigeana is a household name in the vibrant Romanian city of Cluj-Napoca by now. She left the United States and moved to the city right before the pandemic with her Romanian spouse. During lockdown, she started vlogging her life and journey to learning Romanian, and quickly amassed a large following. Her natural and funny…

The data-dependent National Bank of Romania (BNR) will keep the key rate on hold at 6.5% at its last meeting of this year scheduled on November 8, according to a research note published by Erste Group. The decision would be based on the large fiscal slippage this year (recently confirmed by the government), a still…

International agency S&P affirmed Romania’s BBB-/stable sovereign rating and said it would not take negative actions unless the government deficit exceeded its rather comfortable current medium-term projections or if other existing imbalances such as high inflation or substantial current account deficits persisted. S&P doesn’t have great expectations from Romania’s twin deficit narrowing, but it believes…

Starting October 10, stores in Romania are required to inform consumers about changes in product quantities when the presentation, packaging, and form remain the same, even if the price stays unchanged. The regulation is issued by the National Authority for Consumer Protection (ANPC) and is aimed at combating the phenomenon of “shrinkflation.” In essence, it refers…

Romania’s Central Electoral Bureau announced this week the final validation of 14 candidates for the presidential elections set to take place at the end of November. Ten of them have the backing of political parties, while four are independents. The Bureau also announced the order in which candidates will appear on the ballot after a random…

David Popovici, a double world champion and Olympic swimming champion, has raised over EUR 160,000 in just 10 days to help build a family home for children with special needs, exceeding the initial target of EUR 115,000. The initial amount represented a quarter of the money needed to build a family home for 11 children…

German president Frank-Walter Steinmeier awarded Silviu Vexler, the president of the Federation of Jewish Communities in Romania and deputy of the Jewish minority in the Romanian Parliament, with the Cross of Merit in the rank of Officer of the Order of Merit of the Federal Republic of Germany. He was honored for his “tireless and…