According to the Central Bank data, in January – April 2024p, the balance-of-payments current account posted a deficit of EUR 6,576 million, compared with EUR 5,191 million in January – April 2023. The breakdown shows that the deficit on trade in goods widened by EUR 464 million, the surplus on services fell by EUR 651 million, the primary income deficit increased by EUR 791 million, while the secondary income surplus grew by EUR 521 million. Non-residents’ direct investmente in Romania totalled EUR 3,230 million (compared with EUR 2,408 million in January – April 2023), of which equity (including the estimated net reinvestment of earnings) and intercompany lending recorded net values of EUR 3,014 million and EUR 216 million, respectively. In January – April 2024, total external debt increased by EUR 1,804 million to EUR 171,887 million, of which: long-term external debt at end-April 2024 ran at EUR 126,798 million (73.8 percent of total external debt), up 4.1 percent against end-2023; short-term external debt at end-April 2024 amounted to EUR 45,089 million (26.2 percent of total external debt), down 6.7 percent from end-2023. Long-term external debt service ratio stood at 16.9 percent in April 2024 against 16.7 percent in 2023. At end-April 2024, goods and services import cover ran at 6.0 months, as compared to 5.6 months at end-2023. At end-April 2024, the ratio of the National Bank of Romania’s foreign exchange reserves to short-term external debt by remaining maturity came in at 109.1 percent, as against 96.3 percent at end-2023.
President Nicusor Dan signed on Thursday the decree appointing Prime Minister Ilie Bolojan as interim Vice Prime Minister on the areas coordinated by Dragos Anastasiu, the Presidential Administration informed.On 27 July, Dragos Anastasiu announced he was stepping down from the vice prime minister office, mentioning that he could no longer accept "being denigrated and thus […]
Prime Minister Ilie Bolojan continued consultations on Thursday with representatives of the Association of Communes of Romania, telling them there is a strong chance to overcome the current difficult period if the approach of "responsibility toward public funds" is maintained."The reform of local public administration will be part of the second package of government measures […]
Financing the National Recovery and Resilience Plan (PNRR) projects will continue for those already initiated and will stop only in case investment has not begun, where not a single euro was spent for construction, Development minister Cseke Attila explained on Thursday. “PNRR will not stop, neither will financing investments which have already been initiated, […]
The Justice Ministry announced on Thursday having developed in cooperation with the Finance Ministry and the National Tax Administration Agency a set of proposals to amend the Insolvency Law, which will be included in the second reform package.Some of the amendments provide for a higher recovery rate of the taxes and fees owed by insolvent […]
Romania is in the antechamber of recession, with the risk that its economy will decline in the third or fourth quarter, especially amid an increase in taxes, a significant drop in sales and record inflation at European level, says business consultant Adrian Negrescu."We are currently in the antechamber of recession. It is a moment […]
The Ministry of Culture announced on Thursday that is set to adapt national legislation for enforcing the European Media Freedom Act (EMFA), which supports media pluralism, editorial responsibility, protects journalists from abusive surveillance and intimidation, and provides protection for sources.According to a Culture Ministry release, the implementation in Romania of Regulation (EU) 2024/1083 of the […]
