October 28, 2024 UPDATE
A roundup of local and international news.
Newsroom, 28.10.2024, 20:00
A roundup of local and international news.
AGING The population of Romania in mid-2024 was 21,779,000, down 1% compared to June 1, 2023. According to the National Statistics Institute, demographic aging is deepening, with the over-65 age bracket now almost 1 million people larger than the under-14 segment. 55% of the Romanians live in urban communities, but urban-to-rural migration continues, and over 90,000 people moved to the countryside within a year. The number of women is now half a million larger than the number of men, and the national average age is close to 43.
NATURAL GAS Romania has become the EU’s largest natural gas producer, with an output of 2.3 billion cubic metres in Q2, the energy minister Sebastian Burduja announced. According to him, Romania has outperformed the Netherlands, which reported 2.2 billion cubic metres, and compared to last year Romania’s natural gas output was 1% higher. Burduja added that most of the credit for this should go to the Romanian natural gas company, Romgaz, which in the first semester reported a 5% higher gas output than in the corresponding period of last year. The Romanian official explained that Romgaz intends to earmark EUR 120-160 million to increase production. This year alone, the Romanian company started operations with 7 new drilling rigs.
SCHENGEN Romania’s accession to the Schengen area with land borders, as soon as possible, is in the national interest of Hungary, the Hungarian Foreign Minister Peter Szijjarto said Monday according to the Hungarian press agency MTI. The government in Budapest hopes that this can happen before the end of the Hungarian presidency of the EU Council, on December 31, the Hungarian official also said, adding that Romania has taken all the necessary preparatory measures to join the border free area, as shown by the evaluations of Brussels experts and the almost unanimous support of EU members. Referring to Austria’s refusal to support Romania’s full entry into Schengen, the minister said that the Hungarian government is in permanent contact with Austrian officials on this matter. Romania’s accession would also be ‘in full agreement’ with the interests of the Hungarian ethnic community in Romania, Peter Szijjarto also said.
NATO A delegation of the NATO Committee for Defense Policy and Planning is in Bucharest until October 30. According to a press release by the Ministry of Defence, the visit offers an opportunity to deepen collaboration and evaluate Romania’s contribution to strengthening NATO’s deterrence and defense posture. The NATO delegation was received at the headquarters of the Ministry of Defense, where the importance of strengthening allied solidarity in the current security context, with emphasis on the Black Sea region, was emphasized, and Romania’s priorities within NATO were highlighted.
FUELS The average petrol price in Romania has gone up by 3.3% in the past month, to approx. EUR 1.44 per litre in Bucharest. During the same period, average diesel prices rose by 2.3%. Romania has the 7th-lowest petrol prices and the 9th–lowest diesel prices in the European Union.
IMF An IMF mission led by Jan Kees Martijn will be in Bucharest between November 5 and 8, for a review of the latest economic and financial developments and of macroeconomic forecasts. In its latest “World Economic Outlook” report, released recently, the IMF lowered to 1.9% its estimate on Romania’s economic growth rate this year, from the July 2.8% forecast. According to the institution’s latest figures, in 2025 Romania is expected to see a 3.3% economic growth rate.
DEBT According to the Romanian finance ministry, the country’s governmental debt reached approx. EUR 175 bln this July, accounting for 52% of GDP. Romania’s governmental debt is split between domestic debt (roughly EUR 85.7 billion), and foreign debt (approx. EUR 89.5 billion). On the other hand, the budget deficit estimated for 2024 is nearly 8% of GDP. Since 2020, Romania has been subject to an excessive deficit procedure, after in 2019 the country exceeded the 3% of GDP ceiling set under the Stability and Growth Pact. In 2021 the EU Council recommended that Romania bring its deficit below 3% by 2024.
TENNIS The former WTA leader Simona Halep was defeated by Yue Yuan (China) on Monday, 6-3 6-3, in the first round of the WTA tournament in Hong Kong. It was for the first time that the Romanian player (aged 33, currently no. 869 WTA) played against Yuan (26, no. 44 WTA). The main draw of the Hong Kong tournament also includes Romania’s Ana Bogdan (109 WTA), who plays in the first round against Kimberly Birrell of Australia (111 WTA).
