The government approved on Thursday the government debt management strategy over 2024 - 2026, as presented in a memorandum by the Finance Ministry, the Executive said in a release.With budget deficits running high and Romania subject to an excessive deficit procedure, the Finance Ministry's goal is to ensure financing for the budget deficit and the refinancing of the public debt, mainly in national currency, in order to continue the development of the internal market in correlation with its absorption capacity for RON-denominated government securities, in parallel with accessing external financial markets according to the opportunities offered by these markets, with the aim of extending the average maturity for the total debt and diversifying the investment base.Also, the policy of contracting loans from international financial institutions will continue, in order to ensure robust sources of financing and minimizing costs in the medium and long term.The 2024 - 2026 government debt management strategy represents the continuation of the previous strategy for the period 2023 - 2025 and is designed in compliance with the best practices defined in the World Bank and International Monetary Fund guidelines for designing public debt strategies, and in consultation with the National Bank of Romania.The strategy is limited to the debt contracted directly or guaranteed by the government, through the Finance Ministry, but does not include loans from the general current account of the State Treasury ("temporary financing"), cash management instruments and guarantees granted in the name and account of the state by Exim Banca Romaneasca, which were included in the public debt structure starting in 2022, as per the Court of Accounts Ruling No. 3/11.01.2023.The Memorandum presents the structure of the government debt portfolio by the type of currency, interest rate and debt instruments.
Victor Ponta, who served as Romania’s prime minister between 2012 and 2015, announced on Wednesday, May 7, that he is founding a party under the name "Romania First.” The platform will bring together PRO Romania, the party he founded after leaving the center-left Social Democratic Party, with the Romanian Ecologist Party, and other specialists and […]
Romania will receive CHF 10 million in funding for the development of dual education, as part of a second Swiss contribution, the Switzerland - Romania Chamber of Commerce (CCE-R) announced. The funding is part of a program for the development of dual education that aims to support the integration of young people into the labor […]
The Romanian Parliament approved a draft law that increases the amount of punishment for unauthorized operations with pyrotechnic articles on Wednesday, May 7. Initiators of the bill say that every winter hundreds are injured due to firecrackers, most of them children. Mihai Weber, the Social-Democratic Party ()PSD) member of Parliament who initiated the bill, says […]
The second edition of the Learning Tapestry Conference takes place in Bucharest, at the Radisson Blu Hotel, on May 14th, and will bring together global experts in psychology, business strategy, education, and leadership. They will debate how we can build an education system capable of preparing young people to adapt, reinvent, and thrive in a […]
OMV Petrom, a major energy provider in Romania, announced the opening of the largest electric vehicle charging hub in Romania on the A1 motorway, at Miercurea Sibiului. It features a total of 34 fast-charging points: 17 in each direction, 16 for electric cars and 18 for electric trucks. The charging stations are high-capacity: each charger […]
The Romanian airline Dan Air recently announced that it will begin operating regular flights to Damascus from cities such as Bucharest, Frankfurt, Berlin, and Stockholm. The company is the only one from the European Union currently operating commercial flights to Syria. The flights will begin on June 15, and tickets are already available. The routes […]
