Download PDF or read online: July 2023 Issue | Business Review Magazine

The July 2023 issue of Business Review Magazine is now available in digital format, featuring the main cover story titled “At a Crossroads: Budget Deficit Endangering Romania’s Economic Growth.” Read it online by clicking here. To download the magazine in PDF format fill out this form and we’ll make sure to send you a PDF copy.

Editorial: Keeping the local economy afloat

By Anda Sebesi, Editor-in-Chief, Business Review Magazine

“Romania’s economy finds itself in a “soft landing” scenario in 2023, meaning a slowdown in economic growth, but not a recession. We are at the end of an economic cycle that began ten years ago, in which the economy grew at a rapid pace every year, allowing us to close much of the gap that separated us from the European Union average in terms of GDP per capita. But even though we are not going through a crisis, there are major problems regarding the budget deficit and the current account deficit, which must be corrected by the government in order for the country to receive the European funds from the National Resilience and Recovery Plan (PNRR).

This year’s economic growth will be around 2-3%, significantly lower than last year’s 4.8%, but nevertheless a number that demonstrates the country is not experiencing a crisis. There’s been real wage growth even in conditions of high inflation, which is another positive sign.

The Romanian economy has proven its resilience even in the face of major issues that all EU states are experiencing and the uncertainties caused by the war in Ukraine. As experts say, though the forecast of 3% GDP growth for this year may seem small, it is not at all insignificant compared to how other states in the region are performing. And economic growth is the best way to solve our budget problems as well, especially since the necessary reforms are being carried out rather slowly.”

In this issue:

• Apartment prices holding steady as mortgage lending declines
• At a Crossroads: Budget Deficit Endangering Romania’s Economic Growth
• Rhythms of Romania: An inside look into Summer Well Festival
• Nature restoration becomes top priority for economies worldwide

• LEONI sets new standards for excellence in Romania’s automotive industry
• Romanian startups benefitting from diversified EU-backed funding
• Two threats and two opportunities for Romania’s IT industry in Q4 2023

• Responsible design prioritises safety while maximising sustainability
• The Danube Delta: A serene setting for arthouse film festival ANONIMUL
• Haferland Week 2023: A captivating journey through time and Transylvanian traditions
• The best swimming pools in Bucharest

EDITOR-IN-CHIEF: Anda Sebesi | JOURNALISTS: Aurel Constantin, Mihai Cristea, Miruna Macsim, Romanita Oprea, Oana Vasiliu

CONTRIBUTORS: Ovidiu Posirca, Claudiu Vrinceanu

COPY EDITOR: Anca Alexe | PHOTO EDITOR: Mihai Constantineanu | PHOTOS: Dreamstime.com | ART DIRECTOR: Raluca Dumitru

PUBLISHER: Bloc-Notes Media Network ADDRESS: 82-98 Calea Grivitei, 1st floor, Hotspot Workhub, District 1, Bucharest, Romania

SALES & MARKETING MANAGER: Luiza Luca

PRODUCTION: Dan Mitroi | DISTRIBUTION: Eugen Musat

EXECUTIVE DIRECTOR: George Moise | GENERAL MANAGER: Catalin Alistari | USA MANAGER: Oana Molodoi | FOUNDING EDITOR: Bill Avery

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