Romania's IT&C sector close to 8% of GDP

Business Forum

2 April, 2025 at 5:19 PM

The IT&C sector has a contribution of nearly 8% to the Romanian GDP, according to a message from interim president Ilie Bolojan.

The sector employs over 250,000 professionals, with service exports exceeding ten billion euros annually.

'We recognise the challenges posed by the recent changes in legislation and we're listening to the concerns of this sector. Romania requires fiscal balance, but also smart policies that preserve its appeal for skilled professionals and investment. We need a common vision to transition from digital autonomy reliant on outsourcing, to a core model centred on intellectual property, innovative products, and scalable Romanian brands,” according to the president's message submitted during an event of The Romanian Association of Software and Services (ANIS).

In the interim president's view, Romania has all the potential to become a regional technology hub, provided it treats innovation as a cornerstone of economic development.

Romania's informal economy falls short of global average

Romania's informal economy represents about one eighth of its GDP, according to an EY report.

Economy

Romania's unemployment rate at 3.37% in February

Romania's unemployment rate at the end of February 2025 was 3.37%, a decrease of 0.01 percentage points compared to the previous month.

Economy

Romanian business productivity up nearly 20%

Productivity in Romania has increased from 26% in 2008 to 44% in 2024, with women making a notable contribution, according to an analysis of Alpha Bank.

Economy

Moody's changes Romania's rating to negative over fiscal deficit

Moody's Ratings has revised its outlook on Romania's rating from stable to negative due to growing concerns about the nation's fiscal strength in the coming years.

Economy

President Klaus Iohannis resigns from office

lie Bolojan, president of the Senate, will become president of Romania, with limited powers, until the May elections.

Economy

World Bank downgrades forecasts for Romania's economy

Investment, especially in Poland and Romania, is expected to improve on the back of structural reforms and delayed EU funds.

Real estate

CEE economic convergence: A success story with challenges ahead

SEE Property Forum 2024, Romania's leading international real estate event, brought together top economic minds to debate the effects of the economic convergence process in the region and also the current and future economic outlook of CEE.