The government approved on Thursday the government debt management strategy over 2024 - 2026, as presented in a memorandum by the Finance Ministry, the Executive said in a release.With budget deficits running high and Romania subject to an excessive deficit procedure, the Finance Ministry's goal is to ensure financing for the budget deficit and the refinancing of the public debt, mainly in national currency, in order to continue the development of the internal market in correlation with its absorption capacity for RON-denominated government securities, in parallel with accessing external financial markets according to the opportunities offered by these markets, with the aim of extending the average maturity for the total debt and diversifying the investment base.Also, the policy of contracting loans from international financial institutions will continue, in order to ensure robust sources of financing and minimizing costs in the medium and long term.The 2024 - 2026 government debt management strategy represents the continuation of the previous strategy for the period 2023 - 2025 and is designed in compliance with the best practices defined in the World Bank and International Monetary Fund guidelines for designing public debt strategies, and in consultation with the National Bank of Romania.The strategy is limited to the debt contracted directly or guaranteed by the government, through the Finance Ministry, but does not include loans from the general current account of the State Treasury ("temporary financing"), cash management instruments and guarantees granted in the name and account of the state by Exim Banca Romaneasca, which were included in the public debt structure starting in 2022, as per the Court of Accounts Ruling No. 3/11.01.2023.The Memorandum presents the structure of the government debt portfolio by the type of currency, interest rate and debt instruments.
President Nicușor Dan has nominated Senate president Ilie Bolojan, a leader of the National Liberal Party (PNL) and former interim president, for the prime minister seat. Dan said Bolojan is “the best person to carry out the needed adjustments in the state administration.” He pointed to Bolojan’s track record with reducing spending, and said he has […]
Balkanik Festival – Home of World Music, set to take place at Uranus Garden between September 5 and September 7, lines up this year artists who "celebrate that form of joy that does not ignore reality, but faces it with beauty, energy, and solidarity," the organizers said. The artists performing in September in Bucharest will […]
The mayor of Timișoara, Dominic Fritz, announced on Friday, June 20, that two new bridges over the Bega River will be built in the city. The bridges will be financed with EU-backed funds worth over RON 130 million. The bridges in question are the Solventul Bridge, which will connect Gării Street to Dâmbovița Boulevard and […]
A Sarmatian necropolis nearly 2,000 years old was discovered after archaeological excavations were carried out at the Mehala II site in the municipality of Timișoara, in western Romania. Researchers discovered 15 inhumation graves, most arranged in rectangular pits with rounded corners, although some no longer retain their original outline, having been disturbed by the passage […]
The George Enescu Philharmonic Orchestra will deliver on June 26 a concert marking Romania Day at the Osaka World Expo. Additionally, the Bucharest-based orchestra will present a series of other concerts and recitals, both within the Romanian Pavilion and outside, at Toyonara Hall in Osaka. The George Enescu Philharmonic Orchestra's concerts will be conducted by […]
Sphera Franchise Group, the largest food service group in Romania, has opened its first Cioccolatitaliani store in the seaside resort of Riccione, in Italy’s Rimini tourist area. This marks the official launch of Sphera Group’s development plan for the premium Italian brand of coffee, gelato, and pastry. Under the plan, it will open four locations […]
