IMF forecasts higher growth around the world, Romania included
The world economy will grow faster than previously expected this year thanks to increased trade, investment and manufacturing, the International Monetary Fund has said. In its World Economic Outlook on Tuesday, the IMF increased its growth forecast for this year from 3.4 per cent to 3.5 per cent. Romania’s real GDP growth is expected to hit 4.2% in 2017 before it decelerates to 3.4% in 2018, accoding to IMF. In its previous WEO report released in October 2016, the IMF said it expected Romania’s economy to expand by a real 3.8% in 2017. The country’s GDP grew by 4.8% last year, according to the IMF. However, in a message on social media on Wednesday, Romanian PM Sorin Grindeanu said he expected the country’s growth to hit 5.2 percent of the GDP in 2017.
Winter’s unexpected comeback in Romania
The weather will get colder and rainy in Romania these days, with snow coming back to mountain areas. Romanian meteorologists issued rain alerts in most of the country, and snow orange alerts in mountain areas. Temperatures are expected to drop to negative values in the following nights in most of the country, capital Bucharest included. Heavy rains in the Romanian south-western county of Mehedinţi made the traffic almost impossible while northern areas of the county were hit by snow and blizzards. Heavy snow was also reported in the country’s western Jiu Valley.
Brancusi’s Wisdom of the Earth goes on display
Brancusi’s famous Wisdom of the Earth will go on display at Romania’s National Art Museum in the capital Bucharest. Valued at €11m, the sculpture is one of just a few works by Constantin Brâncuşi remaining in his homeland. Visitors will be allowed access starting from June 1, Radio Romania reported on Wednesday. Created in 1907, the work dates from the same creative period as Brancusi’s celebrated sculptures The Kiss and The Prayer, when the artist explored concepts such as universal value, expressed in starkly minimal forms. The last time a Brancusi work was sold was in June 2014 in New York, when Christie’s auctioned off for €5.4 million a simple plaster cast of his masterpiece The Kiss.