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.
Romania’s National Company for Road Infrastructure Administration (CNAIR) has announced plans to equip highways A1, A2, and A3, as well as national road DN1 with surveillance cameras, with the investment valued at RON 220 million (EUR 44.2 million) excluding VAT. The cameras will allow authorities to penalize drivers who exceed speed limits and detect other […]
Accor, a global leader in hospitality, proudly announces the opening of Swissôtel Poiana Brașov, introducing the Swissôtel brand to Romania for the first time. Located in the heart of Poiana Brașov, Romania’s most popular ski resort, the hotel is surrounded by the lush landscapes of the Postăvarul Massif, making it an ideal escape for skiers, […]
Romanian MEP Siegfried Mureșan (EPP/PNL) has been appointed by the political groups of the European Parliament as the chief negotiator for the future Multiannual Financial Framework (MFF) of the European Union post-2027. Mureșan, who was chief negotiator for the EUR 800 billion European Recovery and Resilience Mechanism and the 2018 and 2024 EU annual budgets, […]
Romania is failing to capitalize on strong positive private consumption and investments because of rising imports, which weigh visibly on economic growth, ING Bank analysts wrote in a note as they lowered their 2024 growth forecast from 2.0% to 1.3% on Friday, September 6. The detailed economic...
Romanian prime minister Marcel Ciolacu had a meeting with Israeli counterpart Benjamin Netanyahu in Jerusalem on Thursday, September 5. During the meeting, Ciolacu highlighted the importance of peace in the Middle East. The Romanian and Israeli prime ministers discussed economic cooperation projects, focusing on the defense industry, tourism, and Romania's agri-food exports. "We have dynamic […]
Romania’s gross domestic product (GDP) increased by 0.8% in the second quarter of 2024 compared with the same quarter of last year, based on both unadjusted data series and seasonally adjusted data series, the National Statistics Office (INS) announced on Friday, September 6. For the first half of 2024, Romania’s GDP recorded an annual growth […]
