BNR says it expects no further rise in inflation over the coming two quarters and is concerned about the economic stagnation in the second and third quarters of 2022.
8.0% m/m surge in energy prices help industrial price rise keep close to the 50% y/y level for the fourth month in a row.
Zero-carbon housing is a key battleground in combating climate change and global warming, as the residential building sector across Europe has the potential to cut fossil fuel dependency and reduce emissions.
EU countries need to double the rate of annual wind and solar capacity additions to reach the volumes required to meet the 1.5C aligned 2030 green capacities, think-tank Ember said in a recent report.
Extreme heat and droughts across several European countries have led to forecasts for this year’s harvests being reduced.
Renewable power generation has grown faster than sluggish demand so far in 2022, driven by strong capacity additions, IEA data showed, dragging down global power sector CO2 emissions slightly despite rising coal use in Europe.
Global emissions of carbon dioxide and other greenhouse gases rose 6.4% to 51bn tonnes in 2021, eclipsing the pre-pandemic peak of 50.3bn tonnes in 2019 as global economic activity resumed, International Monetary Fund data showed.
Hike in cost of the public borrowing — which increased by 0.9pp to 8.74% in June — raises more concerns than the size of the debt.
Immediate efforts to cut demand vital, says Fatih Birol, as prospect of EU running out of gas reserves in winter looms.
After February 24, when the first Russian tanks rolled into Ukraine, looking at a map of Europe is no longer what it used to be.
Germany’s leading economic index, the ZEW, collapsed in July as fears mount that Russia will cut the country off from gas entirely at the end of this month, and that could spark a major economic crisis, Oxford Economics reported on July 12.
In my opinion, the macro environment is riskier than before the Dotcom Bubble and before the Great Financial Bubble. Why? A nasty cocktail of factors which may reinforce each other:
Nuclear is set to make a "comeback," with capacity forecast to double between 2020 and 2050 from 413 GW to 812 GW, the IEA said.
The flow of merchandise through Romania’s Constanta Port has tripled since the war in Ukraine started, putting pressure on the capacity of the port that now is restricting the activity of Romanian exporters.
Pockets of weakness persist in emerging markets where real interest rates are deeply negative – and risks for those countries are rapidly mounting.
With no end to the Ukraine war in sight, spiralling inflation is set to drag down growth across Emerging Europe in the second half of 2022 and into 2023, wiiw’s latest forecasts say.
Romania’s retail sales up 8.1% y/y in May, pushed up by refugees' spending as well as households front-loading planned expenditures before expected price rises.