In the eurozone the government deficit to GDP ratio increased from 3.5% in 2022 to 3.6% in 2023, and in the EU from 3.2% to 3.5%, Eurostat said. In the eurozone the government debt to GDP ratio decreased from 89.5% at the end of 2022 to 87.4% at the end of 2023, and in the EU from 82.5% to 80.8%. In 2023,
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In the first half of 2024, Romania’s GDP recorded an annual growth of 0.7% for the unadjusted data series and 1.5% for the seasonally adjusted data series in the first half of 2024 compared to the same period of 2023, provisional estimates from the National Institute of Statistics (INS) showed on Friday (Sept 6). During the period under review, the following economic
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Romania’s trade deficit dropped by 17.6% to 25.555 billion euro in January-November 2023, the National Statistics Board (INS) data showed on Tuesday. Exports grew by 2% to 86.921 billion euro, while imports fell 3.2% to 112.477 billion euro. In November alone, exports decreased by 2.2% on an annual basis to 8.222 billion euro, while imports fell 3.9% to 10.579 billion euro. The
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The National Bank of Romania (BNR) kept its key monetary policy rate at 7% for the seventh consecutive meeting in November, in line with market expectations. The rates to deposit and credit facilities remained at the 6% and 8%, respectively. Board members were of the unanimous opinion that the reviewed context overall warranted keeping the monetary policy rate unchanged, with a view
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Growth in Romania is now expected at only 1.8% in 2023 as a whole, considering the slowdown in the first half of the year, according to a report published on Wednesday (Sept. 27) by the European Bank for Reconstruction and Development (EBRD). The London-based financial institution’s projection was downwardly revised from an initial 2.5% one in May. Romania’s economy proved resilient in
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Residential building permits issued in Romania declined 24% on an annual basis in the first seven months of this year, the National Institute of Statistics (INS ) data showed. A total of 20,196 residential building permits were issued. Declines were recorded in all development regions: Bucharest-Ilfov (-1,460 permits), Sud-Muntenia (-1,019), Nord-Vest (-983), Vest (-841), Nord-Est (-642), Sud-Est (-623), Sud-Vest Oltenia (-497) and
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Romania, Hungary and the Czech Republic are the European economies most vulnerable to a new rise in energy prices, according to the latest EY European Economic Outlook. “Our analysis shows that Europe is more vulnerable to a renewed increase in energy prices than other major economies, in particular the US. In the event of another spike in energy costs, the most adversely
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Romania’ natural gas imports dropped 6.1% in the first four months of 2022 compared to the same period of 2021, National Institute of Statistics (INS) data showed on Thursday (June 23). The country imported during January-April 802,800 toe of natural gas. Meanwhile the domestic gas production was close to 2.38 million tons of oil equivalent (toe) a decrease of 6.1% (or 153,700 toe) from
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