Despite a significant reduction of state aid granted in 2022 compared to 2021, EU member states continued to back companies affected by crises caused by the coronavirus pandemic and the Ukraine war, according to data released by the European Commission on Tuesday. According to those data, in 2022, member states reported state aid of 228 billion euros for all objectives, including crisis measures connected to the coronavirus pandemic, the Ukraine war and other measures. It is the equivalent of 1.4% of EU GDP in 2022, and a drop by 34.8% compared to 2021, when state aid amounted to349.7billion euros. Data also show that 33.6% of total support (76.65 billion euros) helped companies affected by the pandemic to ramian viable, while 17% (39.33 billion euros) corresponds to measures adopted to thwart the negative effects of the Russian invasion in Ukraine. In Romania's case, data of the EU Executive show that overall expenses with state aid amounted to 4.2 billion euros and the first five state aid measures absorbed 55.9% of total expenses, that is 2.3 billion euros. The value of aid co-financed with EU funds in Romania corresponded to 353 million euros (8.4% of total expenses) and were concentrated mainly on regional development (48.2%). When it comes to the type of state aid instruments, Romania used mainly direct grants (1.7 billion euros or 40% of all state aid), followed by guarantees (969.8 million euros or 23.1%) and others (736.6 million euros or 17.6%). In 2022, expenses connected to the coronavirus pandemic in Romania amounted to 1.7 billion euros, 41.7% of all state aid, compared to an average of 33.6% at EU level. As for expenses meant to counteract the negative effects of the Russian invasion in Ukraine, Romania's expenses amlunted to 182.3 million euros or 4.4% of state aid, compared to 17.2% at EU level.
The restructuring plan laid out by Liberty Galați was validated by the Galați Court on Friday, August 1, after having been approved by 52% of the ailing plant’s creditors last month. The plan, approved by creditors and confirmed by the Galați Court, sets out firm measures to restructure both the company’s operational activity and the […]
Animest, Romania’s leading animation film festival, returns to Bucharest this autumn with a special 20th anniversary edition. Running from October 3 to 12, the festival invites audiences to explore the theme of "the journey” - a metaphor for both its two-decade history and the personal, emotional paths traced through animated storytelling, the organizers said. Last […]
An article delving into the benefits of hydrotherapy, published by the famous US newspaper The New York Times, features a recommendation for six wellness centers, including Romania’s Therme center. According to the article, “studies show that immersion in water, hot or cold, can calm the nervous system, reduce joint pain and inflammation, stimulate circulation, lower […]
Plastic surgeon Tiberiu Paul Neagu, head of the Burns Center at Floreasca Hospital, one of the major hospitals in Bucharest, was dismissed on Monday, August 4, after a patient was transferred to Belgium following multiple multi-resistant hospital-acquired infections. The scandal broke out when a patient with burns over 70% of her body, who had been […]
The Buzău Land/Ținutul Buzăului UNESCO Global Geopark has received high praise from evaluators following a three-day official visit aimed at assessing its progress and determining whether the site will retain its UNESCO geopark status. The visit, conducted in June by Goran Radonic (Croatia) and Iván Cortijo Sánchez (Spain), concluded with positive feedback for the geopark […]
One United Properties (BVB: ONE), a publicly listed developer that has so far been focused on Bucharest, announced the signing of a promissory sale and purchase agreement for land located in a prime central area of Sibiu. The site, located on the former FLARO industrial platform, offers significant potential for urban regeneration, according to company […]
