Romania celebrates Europe Day
Romania and member countries around the European Union celebrate Europe Day on May 9. The Council of Europe was founded on 5 May 1949, and hence it chose that day for its celebrations when it established the holiday in 1964. Following the foundation of the European Union in 1993, observance of Europe Day by national and regional authorities increased significantly. „The European Union has an essential role in promoting and ensuring peace, stability and prosperity for the entire continent”, Romanian Prime Minister Viorica Dăncilă said in her message on the occasion. „Romania consistently followed a pro-Euopean roadmap while strenghtning its democracy and modernising its society and economy. Romanians are fully sharing the EU values while Romania’s actions will always focus on efforts aimed at strengthening the EU”, Ms. Dăncilă pointed out.
Romania’s economy to grow at 5.1 percent in 2018 – World Bank
Romania’s economy is expected to grow at 5.1 percent in 2018, with 4.5 percent in 2019, and 4.1 percent in 2020, according to most recent World Bank forecast on economies in Europe and Central Asia. The economy is expected to grow further above potential in 2018. GDP will likely expand by around 5.1 percent in 2018, driven by the fiscal stimulus and helped by a resurgent EU. Continued growth in consumption is expected to widen the current account deficit to 4.3 percent in 2018. Inflation is set to peak at
around 5 percent in mid-2018 reflecting the excess domestic demand and the fading out of the base effect of the tax cuts. Romania’s National Bank (BNR) anticipates a gradual subsequent decline in inflation towards 3.5 percent at the end of 2018, due to a slowdown in private consumption dynamics as no further fiscal boost to households’ real disposable income envisioned. However, the World Bank warns that accumulating fiscal pressures and excess domestic demand limit the space for policy-makers to maneuver in 2018 and beyond. The current account deficit is on the rise, and inflationary pressures persist. These developments leave the Romanian economy vulnerable to exogenous shocks. The authorities may need to take corrective measures to keep the deficit below 3 percent of GDP in 2018 through good quality fiscal adjustment.
Gaudeamus Book Fair in Oradea
The Gaudeamus Book Fair opened in Romania’s north-western town of Oradea on Wednesday. Established in 2014, the Oradea edition of the fair is expected to close on May 13. The book fair promotes Romanian writers to present their literary works for the upcoming generations through exhibition-type events that are dedicated to books and education. It’s all about books, exciting topics and captivating content for the national publishing and media industry and for book fans from across the country.
Alexandru Danga/adanga
