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Inflation – In Romania, the annual inflation rate will have minor fluctuations until the end of September and then it will take a downward path for 3 quarters, according to the National Bank of Romania - BNR. It expects the inflation rate to reach 13.9% in December. On the other hand, the BNR warns that the forecasts regarding the economic activity for next year are significantly revised downwards. According to the Central Bank, next year Romania will experience a significant drop in private consumption, under the influence of the gradual increase in interest rates on the population’s loans and deposits. The government has recently adopted the first budget rectification of 2022, a positive one, which takes into account an economic growth of 3.5%, the budget revenues for the first six months and the budget execution during this period. The Finance Minister, Adrian Caciu, claims that the budget deficit can be kept under control and that the target of 5.84% for the end of the

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