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/)
Romanian prime minister Ilie Bolojan stated during an interview on Wednesday, December 17, that there should be no statute of limitations in cases of serious corruption. The statement comes after a Recorder investigation, which showed that several heads of the major institutions in the Romanian justice system allegedly delayed trials for years until wrongdoings were […]
President Nicușor Dan has challenged, before the Constitutional Court (CCR), the constitutionality of the law that requires that at least 40% of the athletes who play on a team in official national competitions be Romanian. Dan noted that the law violates the principle of non-discrimination and the free movement of workers, enshrined both in the […]
Craiova International Airport will open its new passenger terminal on Thursday, December 18, completing a major infrastructure investment aimed at significantly expanding capacity and improving air connectivity in southwestern Romania. It is part of a broader expansion and modernization project financed through the Large Infrastructure Operational Programme (POIM) 2014–2020, with a total value exceeding EUR […]
Romania is set to be connected to the Western European energy network thanks to grid investments worth EUR 30 billion. The funds will be provided by the EU by 2035, and the project will link Romania to Hungary and Austria in a joint project. Romanian energy minister Bogdan Ivan signaled the signing of the new […]
Franck Bagouet has been appointed managing director of TotalEnergies Marketing Romania SA and managing director of Automotive Southeast Europe Hub TotalEnergies Marketing. He succeeds Didier Grimault, who has accepted a new position within the TotalEnergies company. “I am glad to join this dynamic affiliate and confident that, together with our talented team, we will reinforce […]
Databricks, the data analytics and artificial intelligence company co-founded by Romanian professors Ion Stoica and Matei Zaharia, announced on Tuesday, December 16, that it is raising USD 4 billion in funding at a valuation of USD 134 billion, according to CNBC. The new valuation represents a 34% increase compared to the August round, when Databricks […]
