The total external debt increased, in January 2024, by 4.314 billion euros, up to 173.126 billion euros, and the current account deficit grew by 78.7%, to 1.358 billion euros, the National Bank of Romania informs on Friday through a press release."The current account of the balance of payments recorded a deficit of 1,358 million euros, compared to 760 million euros in January 2023. In its structure, the balance of goods recorded a deficit smaller by 229 million euros, the balance of services recorded a smaller surplus by 351 million euros, the primary income balance recorded a deficit of 376 million euros compared to a surplus of 27 million euros in January 2023, and the balance of secondary incomes recorded a smaller surplus by 72 million euros," the press release reads.According to the source, with regard to external debt, the long-term debt amounted to 125.244 billion euros on January 31, 2024 (72.3% of the total external debt), up by 3.4% compared to December 31, 2023, and the debt in the short term reached the level of 47.882 billion euros (27.7% of the total external debt), increasing by 0.5%.The long-term external debt service rate was 11.2% in January 2024, compared to 17.4% in 2023.The degree of coverage of imports of goods and services on January 31, 2024 was 6.3 months, compared to 5.6 months on December 31, 2023.The degree of coverage of the short-term external debt, calculated at the residual value, with foreign exchange reserves at the BNR on January 31, 2024 was 99.9%, compared to 97.4% on December 31, 2023.
Romania’s government has assumed responsibility in Parliament for legislation reforming magistrates’ pensions, prime minister Ilie Bolojan announced on December 2. He said the draft law had received the opinion of the High Court of Cassation and Justice, noting that the court’s assessment was negative. It is the government’s second attempt to have the bill promulgated, […]
Romania Education Alliance (REA), the first private school network in the country, announced it has exceeded the milestone of 1,000 students enrolled across its member schools just one year after launch. "The fact that we surpassed 1,000 students in our very first year of activity shows that the REA model addresses a real need in […]
Genesis College, one of the largest private educational institutions in Romania, announced the regulatory approval of the transaction through which the investment firm Mozaik Investments becomes its majority shareholder. The transaction, signed at the end of July, received all necessary approvals from the Competition Council on November 25, and, formally, the entire investment procedure is […]
The European Bank for Reconstruction and Development (EBRD) is lending up to EUR 29.9 million to the Romanian city of Brasov to finance energy efficiency upgrades in public buildings, initiating the city’s participation in the Bank’s flagship EBRD Green Cities programme. The Bank’s investment will fund the renovation of up to 20 public buildings, including […]
This festive season, JW Marriott Bucharest Grand Hotel invites guests to embrace the extraordinary and transform each moment into a lasting memory. On New Year’s Eve, the hotel unveils The Grand Countdown — a luminous celebration of new beginnings, thoughtfully crafted across four distinctive venues, each with its own character and atmosphere. The night begins […]
The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control over ArcelorMittal Tubular Products Iași (AMTP Iași) by Metinvest B.V. of the Netherlands, part of the Ukrainian steel and mining group owned by Rinat Akhmetov, New Voice of Ukraine reported last week. Metinvest has...
