Romania recorded a budget deficit of 6.6% of GDP last year, according to Eurostat data, being 0.3 percentage points higher compared to 2022. If we refer to the national methodology, it amounted to 5.68%, in while in 2022 it was 5.76%. According to Eurostat, ahead of us were Italy with 7.4% and Hungary with 6.7%. There were also countries with budget surpluses, such as Cyprus and Denmark (both +3.1%), Ireland (+1.7%) and Portugal (+1.2%). As a European average, the deficit is 3.5% in 2023, while in the euro area: 3.6%. The share of government debt to GDP in the European Union stood at 81.7% last year, falling from a level of 83.4% in 2022. The most indebted member countries are Greece (161.9%), Italy (137.7%), France (110.6%), Spain (107.7%) and Belgium (105.2%). At the opposite pole are Estonia (19.6%), Bulgaria (23.1%), Luxembourg (25.7%) and Denmark (29.3%). Romania recorded a public debt of 48.8% of GDP last year, one of the lowest in the European Union. In absolute figures, Romania’s government debt stood at 783.5 billion lei at the end of last year (48.8% of GDP), increasing from 665.4 billion lei at the end of 2022 (47.5% of GDP).
Two castles in Romania's Cluj county, namely the Rákóczi-Bánffy Castle in Gilău and Bánffy Castle in Răscruci, will reopen in the coming weeks and host events dedicated to visitors. Rákóczi-Bánffy Castle in Gilău, one of Transylvania's historical monuments, will reopen its doors after a seven-year renovation process aimed at transforming it into a multifunctional cultural […]
The second edition of the Chicago Romanian Community Summit will take place on May 25, aiming to unite the Romanian community in Chicago. Leaders from various sectors - business, education, culture, and religion - will come together during the event to celebrate their shared heritage and establish a forum for addressing challenges. The summit also […]
In a recent promotional spot, Nicola Coughlan, Claudia Jessie, and Hannah Dodd, all part of the cast for Netflix’s hit show Bridgerton, played a game of True or False, Romanian Romance Edition. The game consisted of saying whether or not a particular superstition was actually true in Romanian folklore or if it was made up. The first […]
The organizers of the Untold and Neversea festivals in Romania announced the start of the 10th edition of their blood donation campaign - Blood Network. Under this initiative, blood donors can get free one-day tickets for the two summer events. This year's Blood Network runs between May 18 and June 30. Music fans can donate […]
Romanian mountaineer Adrian Ahriţculesei reached the summit of Mount Everest, Earth's highest mountain above sea level, after a 12-hour climb. The expedition, which started on April 11, is scheduled to end on May 30. "Ahriţculesei Adrian conquered the Roof of the World. He is on Everest (8,848 m). Next comes the hardest part of this […]
Hesburger, the largest chain of fast food restaurants in Finland and the Baltic countries, has entered the Romanian market with a first restaurant in Râmnicu Vâlcea. A family business with a history of over 50 years, Hesburger currently operates in nine countries and has over 470 restaurants. The company aims to open 10 new locations […]
