August 12, 2025
A roundup of local and world news
Newsroom, 12.08.2025, 13:55
BANK The governor of Romania’s Central Bank, Mugur Isarescu, is today expected to present the quarterly report on inflation. According to a press release, the annual rate is likely to see a spike in the third quarter this year, against the end of the energy price cap and raised VAT and excises starting August 1st. The National Bank says the inflation rate is going to decrease in the following three quarters and know a fluctuating evolution. According to the National Institute for Statistics, in July this year the annual inflation rate went up to 7.84% from a 5.7% a month ago against the growing prices in food and non-food products as well as in services. We recall that food prices in Romania went up by roughly 8%, prices for services grew by more than 7 percent and non-food products over 8%.
REFORM The reform of the local administration in Romania involves the idea of slashing 40 thousand jobs, with an annual impact of over 400 million Euros – the Minister of Development, Public Works and Administration, Cseke Attila says. He explains the aforementioned measures are absolutely necessary because the state will no longer be able to financially support the present local administration structures. The institutions, which do not have complete organizational charts will have to do without, whereas those with complete charts will have to axe jobs, the official has also said. The local administration reform is part of package 2 of fiscal-budgetary measures aimed at reducing the country’s budget deficit. The first austerity package already came into effect on August 1st.
UKRAINE The people of Ukraine must have the freedom to decide their future and a diplomatic solution must protect Ukraine’s and Europe’s vital security interests – says a statement signed by the leaders of the EU member states with the exception of Hungary posted on the consilium.europa.eu webpage. The statement also says that ‘meaningful negotiations can only take place in the context of ceasefire or reduction of hostilities. “A just and lasting peace that brings stability and security must respect international law, including the principles of independence, sovereignty, territorial integrity and that international borders must not be changed by force.” The EU insists that President Volodymyr Zelensky be invited to the meeting on Friday in Alaska between the US President Donald Trump and his Russian counterpart Vladimir Putin. On Wednesday, the head of the Ukrainian state and several European leaders will be attending a video- conference with the White House leader.
TENNIS Romanian tennis player, Sorana Cirstea, on Monday qualified for the round of 16 of the WTA 1000 tournament in Cincinnati, Ohio, a competition with more than 5.1 million dollars in prize money. The Romanian clinched a 6-7, 6-4, 6-4 win against Yue Yuan of China in a match where she obtained nine aces. Cirstea will next be playing Iga Swiatek of Poland, who benefitted from the withdrawal of Ukrainian Marta Kostiuk. Swiatek has so far won all the head-to-head matches with Cirstea. The latest two of them ended 6-1, 6-1 to the Polish challenger.
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