Romania trade deficit narrows as imports fall

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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BNR minutes show Romania’s c-bank sees inflation going up at the onset of 2024

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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EBRD forecasts fall in Romania’s economic growth to 1.8% in 2023

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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Romanian government to upgrade port of Constanta facilities

Romania’s government is set to invest approximately RON 1.44 billion (€290 million), primarily sourced from the European Union budget, to revamp the Black Sea Port of Constanta, the country’s maritime gateway, amid surging traffic demands. The strategic investment includes infrastructure enhancements, such as rehabilitation of existing roads, water and sewerage infrastructure, and development of electricity distribution. The initial phase of the investment includes around €145

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Romania’s Forex reserves almost flat in August 2023

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

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Romania imported 6.1% less gas in Jan-April 2022

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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