fbpx Modifica setari cookieuri

SIMILAR ARTICLES

Deleting the red lines in order to re-invent Europe

This article was written on April 15 and has appeared in the May 2020 issue of the publication “Cronicile Curs de Guvernare”. As such, it… Mai mult

Surprise in budget implementation for first 4 months: revenues in April were on the rise. Budget deficit – reached 2.5% of GDP

The general consolidated budget registered for the first four months of the current year a deficit of almost RON27 billion, equivalent to 2.48% of GDP… Mai mult

The Monkey in its Labyrinth

Covid is a curse which helps the Romanian economy: it opens no new roads for us but closes the old ones and forces us to… Mai mult

Industrial production decreases for the 8th month in a row. -3.1% in January

According to the data communicated by the NIS, in January 2020, Romania registered a new decrease in monthly industrial production, by -2.4% in gross series… Mai mult

VIDEO / Spring, first Dacia electric model, enters series production as of 2021

Dacia-Renault presented its “show car” Dacia Spring, “which prefigures the first 100% electric model of this brand” and will enter series production in 2021, according… Mai mult

Increase alarm from National Prognosis Commission: Inflation, exchange rate and current account deficit – revised upwards

de Adrian N Ionescu , 7.5.2018

In the spring version of the 2018 – 2021 mid-term prognosis, published Friday, the National Prognosis Commission revised upwards the inflation forecast for the end of this year, from 2.6% to 3.2%.

The same thing happens with the current account deficit and the exchange rate, while the projection for the Gross Domestic Product (GDP) was maintained.

The inflation projection for the next three years has also been revised upwards: to 2.8% in 2019 (from 2.2% in the winter forecast version), 2.5% in 2020 (from 2%, previously) and 2.3% in 2021 (from 1.8%).

The current account deficit projection was also revised upwards, with new figures showing a negative balance of 3.1% this year (compared to previous 2.8%), 2.8% in 2019 (versus 2.5%), 2.5% in 2020 (versus 2.3%) and 2.4% in 2021 (compared to 2%).

The spring version of the 2018-2021 forecast also indicates a higher rate for the national currency. So:

2018 would close with a rate of 4.65 lei/euro (an increase from 4.59 lei/euro as estimated in the winter version) and next three years will bring a slight appreciation of the national currency in relation to euro, as CNP indicates an average exchange rate of

  • 62 lei/euro in 2019 (compared to 4.58 lei/euro as estimated two months ago)
  • 60 lei/euro in 2020 (compared to previous 4.56 lei/euro)
  • 58 lei/euro in 2021 (compared to previous 4.54 lei/euro)

The National Bank of Romania announced on Friday, a reference exchange rate of 4.6618 lei/euro, which represents an increase from the level announced on Thursday.

Regarding the GDP growth, the National Prognosis Commission maintained the estimates published in February, according to which the economic advance this year will be 6.1%, followed by increases of 5.7% in 2019 and 2020 and 5% in 2021.

According to the latest data from the National Institute of Statistics, the annual inflation rate rose to 5% in March 2018, from 4.7% in the previous month, in the context of a price increase by 6.5% in non-food goods, by 4.01% in food products and 2.9% in services.

According to BNR, the acceleration of the annual inflation rate in the first three quarters of 2018 is caused by consumer basket components which are exogenous to the monetary policy’s scope of action. The end of this inflationary surge has the effect of re-entering the target range starting with the last quarter of 2018.

Mergeți în homepage ›

Publicat la data de 7.5.2018

Lăsați un comentariu


NEWS

Renault holds expansion of its plant in Romania, 15,000 jobs cancelled at global level

"Putting capacity growth projects planned in Morocco and Romania on hold" - is one of the measures included in the draft plan of Renault Group… Mai mult

Romania is a net importer of electricity in 2020 as well

Romania imported an amount of electricity of almost 796 GWh in the first month of this year, by more than 36% above what it exported… Mai mult

Shareholders of Galati steel plant promise investments of one billion euros

GFG Alliance has committed to invest one billion euros to upgrade Galati steel plant in order to reduce emissions and increase production. Another EUR 1… Mai mult

Transport Ministry announces it has sent to Brussels the financing request for Sibiu - Pitesti highway

The Transport Ministry, as the Intermediate Body in Transport, approved the financing request for the project "Construction of Sibiu - Pitesti highway", Sections 1, 4… Mai mult

Romania and Juncker Plan: EUR 720 million attracted, of which 35% by Transgaz for BRUA

(The map of investment financed through Juncker Plan, by GDP share. Darker colours mean higher shares) The operator of national natural gas pipelines, Transgaz (TGN)… Mai mult

Top 3 reasons why young people leave Romania

Lack of trust in authorities, corruption and low living standards are the main reasons why young people leave Romania. The data is part of a… Mai mult

IMM Invest Romania – program implementing rules have been published

The Ministry of Public Finance announces that it has issued the methodological norms for the implementation of the Program for supporting small and medium-sized enterprises… Mai mult

Pollution import and car park expansion: comparisons with the other EU states

Romania is the EU country with the fewest cars in terms of the number of inhabitants, according to data recently published by Eurostat. We appear… Mai mult

Government is trying to save budget deficit: reductions in public administration system, cancellation of bonus for harmful conditions, excise duty on soft drinks

The Government is preparing the public for the first measures aimed at avoiding the budget slippage, which would be applied by the PSD-ALDE government. News… Mai mult

Laura Codruta Kovesi remains alone in the race for European Chief Prosecutor

French Prosecutor Jean-Francois Bohnert will be appointed as head of the European Financial Prosecutor's Office, a position for which he was heard on Thursday, 11… Mai mult

Romania - EU country with highest risk of dying in a road accident, Bulgaria is quickly decreasing number of victims since it built motorways

Romania recorded the highest road deaths in the EU also last year, with 96 deaths per one million inhabitants in 2018, almost double the EU… Mai mult

Latest developments in progress at Health Ministry: Differentiated wages based on performance, competitions organised at a regional level not by hospitals

Sorina Pintea announced on Thursday further new changes that will be brought to the functioning of the health care system, including new rules for employment… Mai mult

ANAF changes selection procedure for liquidators. Main changes

The new order on approval and selection procedures for insolvency practitioners is an important step to a very good direction, industry experts say. ANAF is… Mai mult

Romania loses competition for a seat at UN Security Council. MAE Excuse: Campaign started too late

Romania lost to Estonia in the final vote to get the non-permanent member position within the UN Security Council for the period 2020-2021. On Friday,… Mai mult

Business internationalization / eMAG makes a step to entry five new international markets and targets a business of EUR 2 billion

eMAG hopes to get the opinion of the Hungarian Competition Council over the next two months for the acquisition of Extreme Digital, the market leader… Mai mult