He claimed that the financing cost was "cheaper than during the global economic growth period.". (Photo source: ID 133672511 © Natanael Alfredo Nemanita Ginting | Dreamstime.com). Citu pointed out that the EC maintained the forecast for Romania (although at minus 6%) as it negatively revised the forecast for the whole European economy (from -7.4% to -8.3%). Romania’s economy continues to lose speed. Citu pointed out that the EC maintained the forecast for Romania (although at minus 6%) as it negatively revised the forecast for the whole European economy (from -7.4% to -8.3%). Op-Ed: Why is quality media in danger of disappearing & how does a niche online publication support itself, Romanian low-cost airline Blue Air moves Bucharest-London flights from Luton to Heathrow, Another former head of Romania’s Chamber of Deputies sent to jail for corruption, Halloween special: Horror movies shot in Romania, Romanian real estate investor develops new standard that certifies office building resilience to pandemic, A constant connection: British historian Tessa Dunlop on Queen Marie, the importance of the diaspora, and her favorite spot in Romania, Biggest M&A deal in Romania this year: Australian investment group will take over CEZ's assets, Press Release: Historical change in the financial market - ATMs with cryptocurrencies in all cities of Romania.

Business Insider SRL is a carrier of data with personal character, registered in the “Registrul de Evidenta a Prelucrarilor de Date cu Caracter Personal” with the no. Year-on-year GDP growth for the OECD area was minus 10.9% in the second quarter of 2020, following growth of minus 0.9% in the previous quarter. The economic growth in the EU is expected to remain rather constant, at 1.4% in 2020 and 2021, and the economies in the Euro area are expected to grow by 1.2% in 2020 and 2021. In Japan, where containment measures were less stringent, GDP contracted by (minus) 7.8% in the second quarter of 2020, compared with (minus) 0.6% in the previous quarter. Questions from our readers: I am a US citizen, can I enter Romania? The EC's Winter 2020 Economic Forecast is available here. Among the Major Seven economies, GDP fell most dramatically, by (minus) 20.4%, in the United Kingdom. Private consumption remained the main growth driver, the result of a tight labor market and high wage increases, particularly in the public sector,” reads the EC assessment on Romania’s economy. Year-on-year GDP growth for the OECD area was minus 10.9% in the second quarter of 2020, following growth of minus 0.9% in the previous quarter. Romanian state forecasting body to revise downwards its 2020 GDP projection, Analysis: Crop production, five times more profitable than car manufacturing and as profitable as IT in Romania, Romania updates “yellow list”: Travelers from the US no longer required to quarantine on arrival, Biggest 100 companies in Romania generate a quarter of the country’s business - full list, A Dutch couple’s new life in a picturesque Romanian village & how they share their experience with others. 28263. Real GDP growth declined from a post-crisis peak of 7.1% in 2017 to 4.4% in 2018 and is expected to have moderated to 3.9% in 2019. In the euro area and the European Union, GDP dropped by (minus) 12.1% and (minus) 11.7% respectively, compared with declines of (minus) 3.6% and (minus) 3.2% in the previous quarter. Try the Work from Hotel alternative in Bucharest, (P) How executives organize remote work & in person meetings from their hotel rooms in Bucharest, (P) Virtual Economist event: “EUROPE’S LANDSCAPE IN THE SHADOW OF THE PANDEMIC ● Romania: Transformation - Recovery - Resilience” - October 22nd 2020, (P) Why Microstrategy and Square, two american companies, invested $475 millions into Bitcoin? He also mentioned, as a positive development, the confidence demonstrated by foreign investors that placed offers of over USD 7 billion for 10-year and 30-year Eurobonds launched by the Government on July 7. source: Institutul National de Statistica. 2021. Investment is expected to remain strong in 2020, supported by construction and greater use of EU investment funds,” the EC’s economists expect. © 2018 City Compass Media and/or its affiliated companies. […] We need to look at this estimate in the European context. Bitcoin ATM franchisors can make a profit after 1-3 months, Press Release: Mazars rebrand marks key milestone, Press Release: Casazela Romania has recently enhanced their portfolio with a new mandate for property management services for an Office Building located in Piata Victoriei, Press Release: Moving from Romania to the Netherlands, (P) Comment: The top 3 key skills to be developed by the current leaders, (P) Is work from home difficult? Am I a dreamer to want the whole world to read about Romania - unrestricted? Am I a dreamer to want the whole world to read about Romania - unrestricted? How to win over, date and keep a Romanian woman. The European Commission (EC) has increased its growth estimates for Romania’s economy to 3.8% in 2020 and 3.5% in 2021, according to the Winter 2020 Economic Forecast. Do I have to quarantine? Among the Major Seven economies, the United States recorded an annual growth of minus 9.5%, while the United Kingdom recorded the sharpest annual fall … Romanian finance minister Florin Citu said on Wednesday, July 8, that he sticks with the scenario of a moderate economic decline of only 2% this year. Bitcoin ATM franchisors can make a profit after 1-3 months, Press Release: Mazars rebrand marks key milestone, Press Release: Casazela Romania has recently enhanced their portfolio with a new mandate for property management services for an Office Building located in Piata Victoriei, Press Release: Moving from Romania to the Netherlands, (P) Comment: The top 3 key skills to be developed by the current leaders, (P) Is work from home difficult? He said that the successful Eurobond issue, as well as the outcome in the previous Eurobond offer launched in May (EUR 3.3 billion), show the confidence private foreign investors have in Romania's economy. As for the annual inflation rate in Romania, the European Commission expects this to decline to 3.4% in 2020 and 3.3% in 2021, after a 4.1% peak in 2018 and an annual rate of 3.8% in 2019. What are the main risks that could impact economic growth? Robust economic growth is also expected in Ireland (3.6%), Poland (3.3%) and Hungary (3.2%).

The German economy, the biggest in the EU, will see a recovery, from an estimated growth rate of 0.6% in 2019, to 1.1% in 2020 and 2021, according to the same document. Organisation for Economic Co-operation and Development (OECD), ©

GDP Growth Rate in Romania averaged 0.63 percent from 1995 until 2020, reaching an all time high of 6.10 percent in the first quarter of 1996 and a record low of -11.90 percent in the second quarter of 2020. These forecasts are produced by the Directorate-General for Economic and Financial Affairs (DG ECFIN). All rights reserved. Letter from the Editor: Should news be free? Among the Major Seven economies, the United States recorded an annual growth of minus 9.5%, while the United Kingdom recorded the sharpest annual fall (minus 21.7%). GDP also fell sharply in Italy, Canada and Germany in the second quarter (by (minus) 12.4%, (minus) 12.0% and (minus) 9.7% respectively (compared with (minus) 5.4%, (minus) 2.1% and (minus) 2.0% in the previous quarter)‎. The Gross Domestic Product (GDP) in Romania contracted 11.90 percent in the second quarter of 2020 over the previous quarter. The expected economic growth for both 2020 and 2021 is 0.2 percentage points higher than in the Autumn 2019 Forecast (3.6% and 3.3% respectively).

“Economic growth in Romania eased further in 2019. While investment may have had a significant contribution to growth in 2019 supported mainly by construction, the net exports' contribution to GDP growth turned more negative in 2019 with both imports and exports declining. 28263. Moving the company treasury money into Bitcoin is the new trend, (P) Steps to successfully implement and integrate technology in the classroom.

Note: As a consequence of measures put in place by governments to reduce the spread of the Coronavirus (COVID-19), many statistical agencies are facing unprecedented collection, compilation and methodological challenges to develop indicators across a number of domains. Try the Work from Hotel alternative in Bucharest, (P) How executives organize remote work & in person meetings from their hotel rooms in Bucharest, (P) Virtual Economist event: “EUROPE’S LANDSCAPE IN THE SHADOW OF THE PANDEMIC ● Romania: Transformation - Recovery - Resilience” - October 22nd 2020, (P) Why Microstrategy and Square, two american companies, invested $475 millions into Bitcoin? A continuation of expansionary fiscal policies aggravating existing macroeconomic imbalances could affect investors’ confidence and lead to higher funding costs. More sluggish external demand was the main cause of the fall in export growth and also led to a decline in industrial production. OECD Chart: Quarterly GDP, Total, Percentage change, previous period, Quarterly, last 8 quarters, Link to underlying data - Source: Quarterly National Accounts: Quarterly growth rates of real GDP. The report also speaks about the reversal in early 2020 of measures introduced in December 2018 concerning the taxation of the banking and energy sectors is expected to favor private investment, but, just this week, the Senate rejected the Government’s ordinance that did that. 2019. GDP Annual Growth Rate in Romania averaged 3.12 percent from 1996 until 2020, reaching an all time high of 12.60 percent in the fourth quarter of 2004 and a record low of … -6,0. To address these challenges, the statistical community is developing guidance, both conceptual and practical, to help ensure the continued delivery of timely and reliable statistics. Romania: GDP drops at record pace in Q2 amid Covid-19 fallout September 9, 2020 A second release showed that the economy contracted 10.5% on an annual basis in Q2, contrasting Q1’s 2.4% growth, as Covid-19 containment measures took their toll. More legislative unpredictability or rapidly deteriorating fiscal deficit could also affect the business environment in Romania and have a detrimental effect on investment decisions,” the report explains. Moving the company treasury money into Bitcoin is the new trend, (P) Steps to successfully implement and integrate technology in the classroom. The contribution of net exports is expected to remain negative over the forecast horizon, leading to a worsening of the already high current account deficit. "We see that in almost all countries these figures have worsened compared to the spring estimates, in some states by almost one percentage point or more. Download the entire news release (PDF 120KB). The significant fiscal stimulus planned in 2020 and 2021 is expected to give a new boost to private consumption while also stimulating imports. Conversely, the start of much needed fiscal consolidation would contribute to the unwinding of the accumulated imbalances but would also result in somewhat lower economic growth over the forecast horizon. 4,0. This is the largest drop ever recorded for the OECD area, significantly larger than the (minus) 2.3% recorded in the first quarter of 2009, at the height of the financial crisis. The EC also warns that the risks to the growth forecast are tilted to the downside. He also said that he expects the European Commission to revise its projection, which currently indicates a 6% GDP contraction for Romania's GDP, according to the Summer Forecast issued on July 7. © 2018 City Compass Media and/or its affiliated companies. Two Americans get stuck in Romania during the COVID-19 lockdown: We believe Romania is a hidden gem! Questions from our readers: I am a US citizen, can I enter Romania? In France, where lockdown measures were among the most stringent, GDP declined by (minus) 13.8%, after a drop of (minus) 5.9% in the previous quarter. How to win over, date and keep a Romanian woman. Indicators. The European Commission (EC) has increased its growth estimates for Romania’s economy to 3.8% in 2020 and 3.5% in 2021, according to the Winter 2020 Economic Forecast. In the United States, where many states introduced ‘stay-at-home’ measures late March,GDP contracted slightly less ((minus) 9.5%, compared with (minus) 1.3% in the previous quarter). However, in some cases, there will inevitably be an impact on quality and, as such, the statistics included in this press release may be subject to larger, and more frequent, than normal revisions. “The fiscal policy stance will be a key determinant of the evolution of economic growth in 2020 and 2021. All rights reserved.

I remain of the opinion that it is too pessimistic an estimate compared to what is happening in Romania today," Citu said, quoted by Profit.ro.

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