Romania will sign an agreement with the next European Commission so that in seven years it will reach the 3% governmentdeficit required under the Maastricht Treaty, Prime Minister Marcel Ciolacu said on Tuesday.He was asked by journalists if taxes will increase next year and what will happen to the government deficit."First of all, we had an agreement with the European Commission for three years, from a historical deficit of 9.2%, the highest in Europe, unimaginable for any government, and we promised that within three years we will reach 3%, in a year when access to European funds was huge, in which you closed a past financial year, 2016 - 2020, where you had the obligation to come up with 15% of funding you had the current financial year, which had started after a year to have mature projects and you had the investments from the National Recovery and Resilience Plan (PNRR)... How can you promise, in Romania's most important moment of development, a deficit of 3%? Truly, what the commission told us and we have respected and will respect it this year too - under no circumstances should we have a consumption-triggered deficit. (...) We have reached a dialogue with the commission and, of course, with the next commission we will sign the agreement to have a seven-year entry into the deficit under the Maastricht Treaty of 3%, with a 0.74% annual decrease. That shows that no one wants to increase any tax or rate," Ciolacu said. According to him, the measures to be taken to curtail tax avoidance will continue, based on digital transformation and risk modules developed through artificial intelligence."We need an orderly Romania; when I said that, everyone laughed. It is necessary to see what priorities are in investments, so that public money is redirected where it multiplies rapidly in the economy. (...) Everything is done after risk analyses."Ciolacu on Tuesday participated in the release the 22nd edition of the work "White Paper of SMEs in Romania".
Chinese electronic giant Xiaomi has opened its first physical store in Romania as part of a broader strategy to strengthen its presence on the local market, with additional retail expansion planned for 2026. The new Xiaomi Store, located in Bucharest’s ParkLake Shopping Center, is the company’s first directly operated retail space in the country and […]
Romania will introduce new penalties for retailers that refuse to replace defective products, under a new law recently promulgated by president Nicușor Dan. The measure requires traders to provide a replacement within 30 days when customers report that a purchased item is faulty, whether the purchase was made in-store or online. The retailers that fail […]
Romanian Finqware (17th), Questo (18th), Footprints AI (21st), and Steepsoft AI (28th) are among the fastest-growing technology startups in the region, included in the main category of the Deloitte Technology Fast 50 Central Europe 2025 ranking. The ranking measures the growth rate between 2021 and 2024. This year's ranking, now in its 26th edition, is […]
Verbund Wind Power Romania, the Romanian subsidiary of Austrian energy company Verbund, has selected a consortium comprising Prime Batteries Technology and Enevo Group for the supply and integration of a new Battery Energy Storage System - BESS with a capacity of 76 MWh and an absorption/delivery capacity of 48MW. Verbund operates a 226 MW wind […]
The union at the Automobile Dacia automobile factory in Mioveni expressed concern about the administration's proposal to reduce production, starting in January 2026. The production is reportedly planned to be reduced to 55 units per hour, from 65 units currently, according to the company's employees speaking for Europa FM, as reported by
Romanian prime minister Ilie Bolojan announced on November 21 that a decision will be taken in December regarding the minimum turnover tax (IMCA) applied to companies with a turnover of EUR 50 million or more, whose 16% profit tax falls below 1% of turnover, Economica.net...
