Category: Uncategorized

Several sites in Romania have been added to the country’s tentative list for UNESCO World Heritage, culture minister Raluca Turcan announced. The list includes the Peleș and Pelișor castles in Sinaia, former communist prisons, the Three Holy Hierarchs church in Iaşi and the Assumption of Virgin Mary cathedral at Curtea de Argeş, and the Movile…

Exorigo-Upos, a Polish technology company, provides retail companies with support in the field of IT services, the development of e-commerce platforms, or the implementation of omnichannel strategies. It has been developing in 25 foreign markets for almost 20 years and has also been present in Romania for nine years. After a series of successful projects…

Romania’s president Klaus Iohannis and prime minister Marcel Ciolacu reacted to the attack on Slovakia’s PM Robert Fico, who was shot several times on Wednesday, May 15. The Romanian officials condemned the incident and said they were shocked by the news.  “Appalled to learn about the shooting of the Slovak prime minister Robert Fico. I…

Bibiana Stanciulov, the owner of the company that produces Magiunul de Topoloveni (a registered traditional plum jam), one of the most famous Romanian food brands, sued Metro retailer for refusing to accept paying a higher price and eventually delisting her products, according to Hotnews.ro. Stanciulov claims that the retailer’s management previously agreed to pay a…

Gameloft, a French producer and developer of video games, has decided to close the studio in Cluj-Napoca, opened 15 years ago, and to fire all 136 employees from this headquarters, the company told Economedia.ro. The information came from an employee who conveyed that, on May 13, 2024, following an internal meeting with all the employees…

The average net wage in Romania increased by 14.1% y/y to RON 4,973 (EUR 1,000) in Q1, after the earnings in March surprisingly exceeded those in December – seasonally boosted by yearend bonuses, according to data published by the statistics office INS. The higher net wages in March were in the tobacco processing industry (RON…

Romania’s seasonally (and workday) adjusted  GDP rose by 0.5% q/q in Q1, reversing the 0.6% q/q decline in Q4 and bringing the index close to the level in Q3 last year – according to flash estimates published by the statistics office INS.  The flash q/q estimate is roughly half of the expectations expressed in a Bloomberg survey,…

Along with the consensus scenario of strong fiscal stimulus and robust domestic demand, the European Bank for Reconstruction and Development (EBRD) projects strong economic growth of 3.2% this year and 3.4% in 2025 for Romania, under the latest Regional Economic Prospects report published on May 15. The main vulnerability remains the fiscal position, the EBRD…

The governor of the National Bank of Romania (BNR), Mugur Isărescu, speaking at the Inflation Report unveiling on May 15, declared that a fiscal correction is “absolutely necessary,” but it is hard to carry out such policies during an electoral year such as 2024.  “[The fiscal correction] is absolutely necessary, and we encourage the government…

Reflecting the discretionary rise in public wages, the pension reform, and the strong public investments and despite the first fiscal corrective package passed in 2023 (with a positive impact of 1% of GDP this year), Romania’s budget deficit will rise from 6.6% of GDP last year to 6.9% of GDP this year (ESA terms), according…