decline

Cyprus and Romania are among the most affected countries in the European Union by the tourism decline due to the COVID-19 pandemic, says the latest Eurostat survey. In 2020, tourism was among the sectors most affected by the COVID-19…

Romania's Gross Domestic Product (GDP) has dropped by 3.9% during the pandemic year of 2020, compared to 2019, reads the latest report by the National Institute of Statistics (INS). Although a decrease of 12% has been reported in the second…

The biggest drops occurred in developed countries, cutting across all major forms of foreign direct investment. Global foreign direct investment (FDI) flows fell 49% in the first half of 2020 compared to 2019, due to the…

The protracted COVID-19 pandemic has seriously affected Romania’s economic activity and household incomes in the short-run, says the World Bank’s Human Capital Index. "A proactive but constrained fiscal response supported firms to retain…

In the second quarter 2020, still marked by COVID-19 containment measures in most Member States, seasonally adjusted GDP decreased by 12.1% in the euro area and by 11.9% in the EU, compared with the previous quarter, according to a…

Orange Group has announced the financial results for the second quarter of 2020, available on June 30. Therefore, during April-June, Orange Romania has posted a turnover of EUR 242 million, down by 10pc compared to the same period last…

OMV Petrom Romanian oil company's net profit in the first half of this year stood at RON 867 million, by 56 pct less than in the similar period of last year, according to the half-year report. Sales income was RON 10.069 billion, which…

The Romanian economy showed signs of resilience in the first quarter of the year, says the latest economy forecast released by the European Commission today. The EC says that the real GDP increased by 2.4% year-on-year (0.3%…

To prevent the spread of the COVID-19 pandemic, EU Member States have taken a wide variety of restrictive measures. Among other limitations, bars, restaurants and hotels were closed in almost all countries affecting the volume of services…

The crisis generated by the pandemic highlights the weak economic foundations. An Euler Hermes analysis predicts that the Romanian economy will register the worst quarterly contraction of more than 20 years in the second…