Monday, November 14, 2022

Romania’s electricity usage has declined in the first nine months of this year

Electricity usage in Romania has declined by almost 6% in the first nine months of the year, according to data published on Monday by the National Institute of Statistics. The general population made the largest contribution to the drop in overall consumption, with 8% less electricity used. On the other hand, there was a 3% increase in energy used for public lighting. At the same time, electricity production was lower by more than six percent, with the largest fall recorded in the case of hydropower plants.

The Romanian National Bank predicts that inflation will continue to increase

Inflation will continue to rise and will reach 16.3% at the end of this year, to subsequently decrease and reach 11.2% at the end of 2023, the National Bank of Romania has predicted. The governor of the National Bank of Romania, Mugur Isărescu, has explained that if capping and compensation measures in energy prices continue after the middle of next year, the trajectory of inflation will be continuously downward, after the end of this year; otherwise there will be a temporary interruption of the drop in inflation in August 2023.
Mugur Isărescu: In face of the effects of the war in Ukraine, we have adopted a position, as we say, slightly positive, not optimistic. We don’t see massive deteriorations. For the prices of raw materials, we have data that show us a certain stabilization of quotations, we see that the blockages in global value-added chains are in a gradual dissipation. Also, the epidemiological situation shows we have no data to confirm a resurgence of COVID infections, and the mix of macroeconomic policies is positive. We have worked well with the government so far, we see a continuous normalization of monetary policy.

Romania marks 35 years since the Anti-Communist Rebellion in Brasov

The Romanian Parliament is meeting this afternoon in a solemn session to mark the 35th anniversary of the Anti-Communist Rebellion in Brasov, an uprising that took place on November 15, 1987. It is the first time that the Parliament is marking this event which contributed to the fall of the communist regime in 1989. Participants to the events in Brasov 35 years ago were also invited to the solemn session of the Parliament. The workers from the „Red Flag” truck factory took to the streets on November 15, 1987, to protest against the communist regime, and they were joined by employees from the Tractor Factory, pupils, students and other residents. However, the uprising was suppressed. Even if the events in Brasov did not directly lead to the revolution of 1989, they were a strong blow to the regime led by Nicolae Ceausescu and contributed to the fall of the communist regime. Prime Minister Nicolae Ciucă will also be present at the joint session of the Senate and the Chamber of Deputies.

Mădălina Brotăcel, RADOR