The
The EU official also
Price
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Last
Romania will continue to report a robust economic growth, the European Commission expects<\/p>\n","protected":false},"author":110,"featured_media":81601,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[37738],"tags":[30655,32599,29631,39118],"coauthors":[],"class_list":["post-67215","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-today-in-the-news","tag-central-bank","tag-energy-prices","tag-inflation-rate","tag-price-hikes"],"acf":[],"yoast_head":"\n
\nEuropean Commission has slightly lowered its economic growth forecast for Romania.
\nTherefore, our country’s economic growth is expected to stand at 7%, compared
\nto the original estimate of 7.4% presented in July. The Commission expects
\nRomania’s GDP to exceed the level reported before the pandemic and to continue
\nto expand in the future to approximately 5%, fueled by domestic consumption and
\ninvestments under the Recovery and Resilience Plan. Economic growth is
\nendangered by the low rate of vaccination, travel restrictions that might
\naffect consumption and possible delays in implementing the National Recovery
\nand Resilience Plan. EU Economy Commissioner, Paolo Gentiloni, warned that
\ngrowth prospects at EU level are put at risk by the increasing number of
\ninfections in countries with low vaccination rates. <\/span><\/p>\n
<\/span><\/p>\n
<\/span><\/p>\n
\nreferred to a growing pressure on production in Member States due to deadlocks
\nreported in global distribution chains. Romania fares slightly better compared
\nto other EU states in terms of economic growth. Conversely, its inflation rate
\nis above the EU average, whereas unemployment will go down less compared to
\nother states. The Central Bank recently announced the inflation rate last month
\nreached nearly 8%, the highest level reported in the last 13 years. The price
\nhikes for energy and fuel, by nearly 25% higher compared to October 2020, have
\nincreased prices across the board, and the trend will continue into the second
\nhalf of next year, the Central Bank and economic experts have warned. Next
\nmonth, the inflation rate is expected to stand at 7.5% and will reportedly go
\ndown to 5.9% at the end of next year. The Central Bank says these estimates exceed
\nthe forecast present in August due to the latest energy price hikes. Central
\nBank spokesman, Dan Suciu, referred to the future evolution of prices:<\/span><\/p>\n
<\/span><\/p>\n
<\/span><\/p>\n
\n
<\/p>\n
\nhikes are largely behind us now. That doesn’t mean we will see prices going
\ndown soon. Where prices will go up, the increase will be marginal. The
\ninflation rate will continue to grow constantly until the end of 2021, and will
\nstart dropping slightly until April, due to compensations, energy subsidies expected
\nto take effect starting November 1, and whose effects will start to show in
\nApril. But again, the difference will be marginal.<\/p>\n
\n
<\/p>\n
\nmonth, natural gas reported the highest increase compared to the previous month,
\nover 21%. The only category that reported a significant drop in prices was air
\ntravel, over 16%. (VP)<\/p>\n
\n
<\/p>\n","protected":false},"excerpt":{"rendered":"