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The deficit of Romania’s current account (CA) has widened by 37% y/y to EUR 29.4 billion in 2024, amid a deterioration in all its main segments: trade in goods and services, primary incomes (dividends, interest, wage remittances) and secondary incomes (transfers), according to data published by the National Bank of Romania (BNR). The CA-to-GDP ratio…

Romanian steel mill ArcelorMittal Hunedoara temporarily suspends activity, starting February 14 until the end of March, with the payment of only 75% of the basic salary of the employees affected by this measure. The company cited very high electricity prices, Profit.ro reported. In December, ArcelorMittal Hunedoara also temporarily reduced activity, with wages paid only at…

The net average wage in Romania rose by 13.4% y/y in 2024, or by 7.4% y/y in real terms – more than double the 3.4% y/y real advance in 2023, according to data published by the statistics office INS. Besides robust consumer lending, this pushed the retail sales to an outstanding +8.6% y/y advance in…

Romanian prime minister Marcel Ciolacu said at the beginning of the February 13 government meeting that the implementation of the reforms pledged under the Resilience Facility (which are triggering disbursement of loans and grants from the EU budget) is becoming the main criterion for evaluating the activity of ministers.  He warned that he would not…

UiPath, the first Romanian unicorn listed on the New York Stock Exchange, has reportedly closed its Quality Assurance department in Bucharest, which currently counts 25 employees, according to Profit.ro. This involves terminating the contracts of those working in software testing, but the company is also offering employees the option to find jobs in other departments,…

To compensate for the canceled 12% pension indexation that should have been operated in January 2025, the government of Romania promised RON 800 one-off payments in two equal installments for low-income pensioners. The first installment will be in April, and the second will be at the end of the year, according to a decision adopted…

Romania recorded 5,746,452 employees in 2024, the highest level in the past decade, according to the Ministry of Labour. The number of individual employment contracts reached 6,710,815 at the end of 2024 – 700,000 more than a decade ago, Economica.net reported. According to the National Employment Agency (ANOFM), employers declared 629,733 job openings in 2024,…

Romania’s new interim president, Ilie Bolojan, delivered his first message on Thursday, February 13, emphasizing his commitment to economic, social, and political stability, security, and fair elections. “We have no time to lose, and the risk of a major crisis is real,” he said. Ilie Bolojan took over as interim president on February 12 following…

Romania, alongside other European states, was targeted by acts of “sabotage” characteristic of Russian tactics throughout 2024, according to a recent report from DIICOT. The goal of these hybrid attacks was to test NATO countries’ defense preparedness and identify weaknesses in infrastructure, the Directorate for Investigating Organized Crime and Terrorism said. “Since 2022, at least 50…

The Colosseum Archaeological Park in Rome is hosting the “Brâncuși: Scolpire il volo” exhibition from February 13 to May 11, the first time that a Romanian’s works are displayed in the Italian capital. The exhibition takes place due to a collaboration with the Pompidou Center in Paris. It is divided into two sections: the first…