Coronavirus will change our lives in many ways, in Greece and across the globe. First of all, it will certainly make us poorer; at least in the short term. International experts estimate that Greece will experience a recession of between 3 and 4 percent. That estimate is based on the projection that Greece's tourism industry will suffer a 50 percent drop.
The toughest job central banks face in the next five years is managing uncertainty. In the euro area, inflation is persistently low and the ammunition available to raise it is minimal. Meanwhile, structural changes, including the rise of the digital economy and its effects on productivity, and the threat to global open trade, imply that we do not know how the economy will work.
The collapse of the national currency, which has gone from 4.7 RON to 4.8 RON per euro, is worth 2 bani (the lowest subdivision of the Romanian currency, 100 bani equals 1 RON - e.n.), and presently it doesn't even reach that, said on Sunday Adrian Vasilescu, strategy consultant at the National Bank of Romania. "There is much talk these days.
The annual inflation rate dropped to 3.6 percent in January this year, from 4 percent in December of last year, given that the food stuff prices went up by 4, 75 percent, services by 4.01 percent, and non-food goods by 2.68%, according to data released on Thursday by the National Institute of Statistics (INS). Consumer prices in January 2020 compared to December 2019 increased by 0.4 percent.
Treasury and Finance Ministry holds auction for domestic markets to issue 5-year CPI-indexed government bonds