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Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

BCR: Romania’s economy operates at 68% of pre-crisis potential

The pace of economic recovery in Romania has slowed in recent months, analysts of Romanian lender BCR said.

In September, the economic activity stood at 68% of the average in a normal pre-pandemic month, a slight improvement from 63% in August.

In April, at the climax of the health and economic crisis, the economy operated at only 27% of its capacity. BCR's analysts point out that they expect core inflation to remain high for longer, in the context of a persistent adverse supply-side shock and aggregate demand that has recovered faster than expected.

"According to the index developed by BCR that follows the developments in the economy daily, economic activity stood at 68% of the average of a normal pre-COVID month 19 in September, a slight improvement from 63% in August. The peak of the crisis was reached in April when the economy operated at only 27% of capacity, then suddenly recovered in the next three months, amid the gradual relaxation of restrictions on social distancing and free movement, reaching at a level of 60% in July. Even if the evolution of household demand shows a reversal of the contraction trend, the complete recovery on the supply side of goods and services may take a little longer," reads BCR's report, quoted by Bursa.

(Photo: Diony Teixeira/ Dreamstime)

[email protected]

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Profile picture for user andreich
Andrei Chirileasa
Editor-in-Chief

Andrei studied finance at the Bucharest Academy of Economic Studies and started his journalism career in 2004 with Ziarul Financiar, the leading financial newspaper in Romania, where he worked for ten years, the last six of which as editor of the capital markets section. He joined the Romania-Insider.com team in 2014 as editor and became Editor-in-Chief in 2016. He currently oversees the daily content published on Romania-Insider.com and likes to stay up to date with everything relevant in business, politics, and life in Romania. Andrei lives with his family in the countryside in Northern Romania, where he built their own house. In his free time, he studies horticulture and tends to his family’s garden. He enjoys foraging in the woods and long walks on the hills and valleys around his village. Email him for story ideas and interviews at [email protected] 

 

BCR: Romania’s economy operates at 68% of pre-crisis potential

The pace of economic recovery in Romania has slowed in recent months, analysts of Romanian lender BCR said.

In September, the economic activity stood at 68% of the average in a normal pre-pandemic month, a slight improvement from 63% in August.

In April, at the climax of the health and economic crisis, the economy operated at only 27% of its capacity. BCR's analysts point out that they expect core inflation to remain high for longer, in the context of a persistent adverse supply-side shock and aggregate demand that has recovered faster than expected.

"According to the index developed by BCR that follows the developments in the economy daily, economic activity stood at 68% of the average of a normal pre-COVID month 19 in September, a slight improvement from 63% in August. The peak of the crisis was reached in April when the economy operated at only 27% of capacity, then suddenly recovered in the next three months, amid the gradual relaxation of restrictions on social distancing and free movement, reaching at a level of 60% in July. Even if the evolution of household demand shows a reversal of the contraction trend, the complete recovery on the supply side of goods and services may take a little longer," reads BCR's report, quoted by Bursa.

(Photo: Diony Teixeira/ Dreamstime)

[email protected]

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