Romania will negotiate with the new European Commission a seven-year agreement to re-enter the 3% deficit target, prime minister Marcel Ciolacu said on Tuesday, claiming that our country is in a period of "accelerated" development and it is very important that investments continue."What I can tell you is, for example, that the World Bank gave us a loan to cover the deficit. I suppose that the World Bank saw the pace of Romania's development and did not consider it a risk for an investment in Romania," Ciolacu said, when asked what measures to reduce spending were discussed by the coalition on Monday in order to reduce the budget deficit.According to him, the government should be allowed to negotiate with the European Commission regarding the budget deficit."We have to decide, do you want to enter the logic in which, in two months, if you want, I stop any investment and we have a 3% deficit? I don't have a problem. With all the expenses that have increased in salaries and you know well that the expenses in salaries have increased last year in education and health, after a social crisis and after the biggest strike in the education system. (...) I repeat, I prefer you to ask me daily about the deficit and to continue the investments. I don't stop investments in Romania. (...) Let us negotiate with the Commission. These things are not publicly negotiated," Marcel Ciolacu pointed out, adding that other European states also have to manage the problem of excessive budget deficit.He also pointed out that in the discussions that took place in the coalition meeting on Monday it was agreed that the VAT will not be increased.The prime minister participated on Tuesday in the Business Forum organized at the Palace of Parliament, on the occasion of the meeting of the Partnership for Transatlantic Energy and Climate Cooperation.
Céline Gauer, the director general of the Recovery and Resilience Task Force (or RECOVER) at the European Commission, arrived in Romania on Tuesday, July 15, to meet with officials regarding the implementation of the National Recovery and Resilience Plan, or PNRR. As the coordinator of the PNRR, which offers funding in the form of advantageous […]
Aluminium producer ALRO, a subsidiary of Vimetco PLC from Cyprus, celebrated 28 years on the Romanian stock exchange (BVB) and 60 years of uninterrupted industrial activity. Its market capitalization has increased nearly 21 times since its listing and now exceeds RON 1 billion. The company’s history began with the first batch of Romanian aluminium, on June […]
Something is quietly shifting in Romania. In places where paperwork, patchy Wi-Fi, and long queues once ruled, change is starting to show. Towns are more connected, cities are getting smarter, and essential services are beginning to live online, not in line. A tidal wave of digitisation is common to other areas of the globe, that’s […]
Several segments in Romania's A7 and A8 highway projects have lost funding from the National Recovery and Resilience Plan (PNRR) due to project delays, the minister of investments and European projects, Dragoș Pîslaru, announced on Tuesday, July 15, as reported by Biziday.ro. He did not specify which segments of these highways were affected. The statement […]
Real estate developer Redport and businessman Dan Șucu officially inaugurated the showroom for their latest residential project, Vitality Est, and announced the start of construction work on the site near Pantelimon Park and Lake in eastern Bucharest. The project, estimated at EUR 50 million, will include 500 apartments and 400 square meters of commercial space. […]
According to an analysis from real estate consultant Colliers based on National Bank of Romania data, Romanians spent more than EUR 3 billion on international travel in the first four months of 2025, 15% more than in the same period of 2024. If the current pace continues, Romanians’ spending on foreign holidays and business travel […]
