Macro

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

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

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

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

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

Romania’s foreign exchange reserves (excluding gold) stood at EUR53.90 billion at the end of August 2023, compared to EUR 53.93 billion on 31 July 2023, the National Bank of Romania (BNR) data showed on Friday (September 1). Foreign exchange inflows totaled EUR1.932 billion last month, representing: changes in credit institutions’ foreign currency-denominated required reserves with the BNR; inflows into the Ministry of