Saturday, 07. December 2013 - 06:12
07. 02. 12. - 13:00
Romania's Central Bank Governor Mugur Isarescu said today (Tues) the central bank had hiked the inflation prognosis from 3 per cent to 3.2 per cent in 2012.
It is expected for the inflation rate not to drop below 2 per cent.
Less favourable effects are expected from volatile prices of food products.
For 2013, the inflation prognosis stands at 3 per cent.
Mugur Isarescu said that in 2011, inflation was close to the central bank's estimations.
The phenomenon of disinflation - a situation in which the inflation rate decreases, but does not reverse - was slowed down by hike of administrated prices and the depreciation of the Romanian currency RON against the US dollar.
The positive development of inflation in Romania last year was influenced by the diminishing effects of the VAT hike (back in July 2010, from 19 to 24 per cent), and the improvements of the international markets for raw materials, agricultural and energy products, next to the monetary policy.
The annual inflation in December reached 3.14 per cent, which is the lowest in the last 20 years, according to the data from National Statistics Institute.
The European Commission said in its autumn economic prognosis that Romania would have 2.1 per cent of economic growth in 2012. For 2013, the prognosis is 3.4 per cent growth of GDP.
National History Museum shows ancient gold coins returned from UK
The Romanian National History Museum in Bucharest has exhibited a rare collection of ancient gold coins that had vanished and have now been returned from the UK where the customs had held them.
Romanian woman gives a birth for free in Serbian hospital and then leaves a baby
Hospital staff in the northern Serbian town of Pozarevac where shocked when a Romanian woman entered there, gave birth and then secretly left abandoning the baby.
Arctic opens a new fridge production line in Gaesti
Romanian company Arctic has opened a new fridge production line in the town of Gaesti in the south of the country.
Romanian businessmen discuss cooperation with Oman
Businessmen representing Romanian companies will stay in Oman for two days discussing possible ways of cooperation between the two countries.
Serbia is a homeland of vampires, not Romania, claims American journalist
An American journalist has revealed the homeland of vampires is Serbia, not Romania.
Simona Halep wins a tournament in Sofia
Romanian tennis star Simona Halep has won the WTA tournament in Sofia, the capital of Bulgaria.
Emil Constantinescu meets president of Azerbaijan
Former President of Romania Emil Constantinescu has met the president of Azerbaijan Ilham Aliyev in Baku
Architect of Romanian Parliament Palace dies
The Architect of the Parliament Palace in Bucharest has died.
Solar farm completed near Brasov
French company Voltec Solar have copleted a 2.5 MW solar farm in Romania near the city of Brasov.
Hungarian minority protests in Szekely
The Hungarian minority protested on Sunday demanding autonomy for the Szekely area.
The most popular stories –
last 7 days