The budget deficit rose to 3.24% of the Gross Domestic Product (GDP) after the first four months of this year, the negative balance amounting to 57.29 billion RON, compared to 35.88 billion RON or 2.06% of GDP after the first three months, according to the data published on Monday by the Ministry of Finance (MF)."Execution of the general consolidated budget in the first four months of 2024 ended with a deficit of 57.29 billion RON, respectively 3.24% of GDP compared to the deficit of 27.35 billion RON, respectively 1.70% of GDP related to the four months of 2023", the MF informs.Total revenues amounted to 182.7 billion RON in the first four months of 2024, registering an increase of 15.3% at an annual rate, supported primarily by receipts from current revenues - insurance contributions, VAT, profit tax, tax on salaries and non-fiscal income - respectively by European funds.The expenses of the general consolidated budget in the amount of 239.99 billion RON increased in nominal terms by 29.2% compared to the same period of the previous year. Expressed as a percentage of the Gross Domestic Product, expenditures for 2024 registered an increase of 2 percentage points compared to the same period of 2023, from 11.6% of GDP to 13.6% of GDP.The budget for this year is built on a deficit decreasing to 5% of GDP, from 5.68% of GDP in 2023.
“Garden of Memories,” a civic initiative meant to commemorate the 1989 Revolution that led to the fall of communism in Romania, is set to take place between December 19-20 around the Memorial of Rebirth, in Bucharest’s Revolution Square. Organized by the Streets for People Association, together with the Bucharest City Hall and the Museum of […]
Runware, a startup founded by two Romanian entrepreneurs, announced last week that it has secured a USD 50 million Series A funding round led by Dawn Capital, one of the largest European investors in B2B software companies. The round also included Comcast Ventures, Speedinvest, Insight Partners, and a16z Speedrun. The company founded by Flaviu Rădulescu and […]
The body of Romanian former justice minister Rodica Stănoiu was exhumed on Monday, December 15, after prosecutors opened an in rem case regarding her suspicious death, Digi24 reported. Investigators are looking into the possibility that the former minister may have been killed through negligence. ...
Authorities in Romania have begun imposing fines for owners of bicycles and electric scooters who do not take out mandatory motor third-party liability insurance (RCA). The new rules have been applicable since November 13, but the Romanian Parliament granted a 30-day grace period until the application of sanctions, according to...
Art Safari will relocate to Amzei Square in central Bucharest in 2026, where it will operate under a new format titled Art Safari New Museum, following more than a decade of pop-up exhibitions hosted in historic buildings across the capital. After 12 years, 17 editions, and more than 1 million visitors, the exhibition platform will […]
In Romania, Christmas is more than holiday markets, decorated trees, and wrapped gifts. It's a season filled with old customs, lively rituals, and dishes that bring families together. One of the most popular Christmas traditions is caroling. Although traditions vary depending on the area, the ritual of going from house to house and singing carols […]
