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".
Representatives of the ruling Social Democratic Party, PSD, gathered for a congress in Bucharest on Friday, November 7, to elect new leadership and to amend the party’s Statute. The only candidate for party leader is Sorin Grindeanu, who held the interim position after Marcel Ciolacu's resignation in May. In his speech at the congress, Sorin […]
The e-commerce sector recorded strong early results on Black Friday 2025, according to real-time data released on Friday, November 7, by PayU GPO Romania from its dedicated Media Center. By 14:10, the payment processor reported successful transactions totaling RON 514 million (roughly EUR 101 million). PayU said shoppers had made roughly 889,000 purchases, with around […]
Contakt Express Logistik, one of Romania’s leading retailers of mobile phone and tablet accessories, with a network of over 235 stores, is set to launch the initial public offering (IPO) between November 12 and December 3, 2025. The company offers a wide range of products, including cases, screen protectors, chargers, and gadgets, both in physical […]
Romania attracts fewer international tourists today than it did during the communist era, making it the only country in Europe in this situation, the National Association of Travel Agencies (ANAT) warned, as reported by news agency Agerpres. According to the organization, Romania received more than 3.4...
InterCapital ETF, the first international ETF provider in Romania, will launch two new exchange-traded funds on the Bucharest Stock Exchange starting November 11, 2025. The new instruments are the InterCapital CROBEX10 TR UCITS ETF, which offers exposure to the Croatian blue-chip equity market by tracking the performance of the CROBEX10tr index, and the InterCapital EUR […]
The Competition Councils of Romania, Bulgaria, and the Republic of Moldova have granted the necessary authorizations and approvals for the completion of the transaction through which Maspex Romania takes over the majority shareholding of Purcari Wineries. The Maspex Group, which has been present in Romania for nearly 30 years, became the majority shareholder of one […]
