History by period

World Bank projecting Romania's economic growth at 0.3pct in 2020

The World Bank has revised significantly its estimates of the Romanian economy's advance this year, down to 0.3 percent from 3.8 percent, as projected three months ago, but growth would gradually bounce back in the second half of 2020 and further accelerate in 2021 to 4.4 percent, according to the World Bank's economic update spring 2020.

Global financial system in rough seas

Policy makers across the world are moving quickly to provide financial support to their economies, which are, in all likelihood, in deep recession. Given the unprecedented economic uncertainty associated with Covid-19, the depth and breadth of the downturn is hard to quantify. However, the global economic recession is unlikely to be short-lived.

Volunteers Help North Macedonia’s Elderly Survive Lockdown

"I don't want to risk going to my doctor and I need therapy. Please go to my doctor so she can prescribe my medication, because I only have pills left for three days."

This was one of the calls that the Red Cross's municipal HQ in the Skopje municipality of Karposh received on Wednesday morning.

UPDATE/EC: Romania doesn't comply with deficit criterion and launch of excessive deficit procedure is warranted

The fiscal budgetary strategy for 2020-2022, adopted by the Government on 10 December 2019 and sent to Parliament, stipulates a deficit target of 3.8 percent of the GDP in 2019, a figure which, according to the European Commission, provides prima facie evidence of the existence of an excessive deficit in Romania, according to a report adopted by the European Commission on Friday.

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