Construction, one of only two economic sectors in Romania that made a positive contribution to GDP growth in Q2, maintained a robust, double-digit annual growth rate in July.
Romania’s current account balance narrowed to €4.86bn in January-July, down 19.5% y/y. The correction is related to the effects of the crisis: fewer holidays abroad and lower dividends.
The first segment of the Romanian capital's fifth metro line is opening this week wth 10 stations, serving one of the city's biggest residential areas.
Car production was up 10% y/y in July-August, driven by the boost in production at Ford's Craiova factory.
The value added generated by Romania’s IT and communications sector increased by 10.4% y/y in Q2, in contrast to the 10.5% GDP contraction.
Romania posted the highest national relative VAT gap in the European Union in 2018, with 33.8% of its potential VAT revenues going missing.
Romania's exports contracted by 5.1% y/y in July, to €5.55bn: the best performance since the coronavirus pandemic hit global trade in March. But the pre-crisis path was far from bullish.
The decline was softer than expected, while sentiment: short term indicators such as industrial production and retail sales point to a quick resumption of activity while health risks remain high.
Are countries in the Balkan region taking on more debt than they can afford?
Retail sales in Romania shot up by 4.8% y/y in July to nearly reach pre-crisis levels, and online sales surged by 48%.
MPs from main government and opposition parties backed proposal to hand over plot with an estimated value of almost €500mn for mixed use development around exhibition centre.
Russia, Kazakhstan and Iran make top 10 in electricity consumption index for digital currency mining industry.
Robot grocery deliveries, checkout-free stores and facial recognition payments are some of the technologies coming out of CEE as retail goes contactless.
Troubled energy giant to scale down coal power production and gradually close its coal mines while investing into new renewables capacity.
The transaction is the first step in Citylink's regional expansion strategy, and will give it a base for growth in major Moldovan cities as well as the Ukrainian city of Odessa.