The Government approved the budgetary rectification for the state budget, the social insurance budget and the unemployment insurance budget, taking into account the macrocosmic forecasts developed by the National Forecasting Commission, the Minister of Finance, Marcel Bolos, announced on Monday.The indicators on which the rectification was carried out are economic growth revised to 2.8%, a GDP deflator of 7.2% and an updated GDP of 1768.8 billion RON.The revenues of the general consolidated budget in 2024 reach 620.2 billion RON and the expenses of the general consolidated budget amount to 743 billion RON. "There is a surplus of budget revenues after the first eight months, revenues that we use to develop Romania! 84% of the deficit goes to the investment area. We are the first European state in terms of the ratio between the deficit and the volume of investments. Obviously, at this level investment record, the budget deficit also increases to 6.9% of the Gross Domestic Product, but it is a sustainable deficit, taking into account that 8.5 RON out of 10 RON spent go to highways, hospitals, schools and gas networks, water and other objectives of local interest," stated Marcel Ciolacu at the beginning of the government meeting.The prime minister said that this money returns to the economy and multiplies: for one euro invested, six or eight euros return to the state."That's why we have to go forward with a lot of courage. We don't have time for philosophers who, as prime ministers, had a deficit of 9.2%, and investments were only 1.7% of GDP. They only knew how to consume, not to build! Now, the consumption margin is very limited and it is vital to keep it that way," said Ciolacu. (Photo:https://gov.ro/)
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 […]
