The budget deficit rose to 4.57% of GDP after the first eight months of this year, from 4.02% of GDP at seven months, according to the data sent by the Ministry of Public Finance on Friday."Execution of the general consolidated budget in the first eight months of 2024 ended with a deficit of 80.87 billion RON, respectively 4.57% of GDP, compared to the deficit of 42.19 billion RON, respectively 2.63% of GDP related to the eight months of 2023," according to the quoted source.Total revenues amounted to 375.76 billion RON in the first eight months of 2024, registering an advance of 13.7% (y/y), supported by receipts from current revenues - mainly insurance contributions, VAT, payroll tax and income, profit tax and non-tax revenues.The sums reimbursed by the European Union on account of payments made and donations totaled 22.94 billion RON, down 18.3% (year/year).On the other hand, expenses of the general consolidated budget in the amount of 456.63 billion RON increased in nominal terms by 22.5% compared to the same period of the previous year. Expressed as a percentage of the Gross Domestic Product, expenditures for the first eight months of 2024 registered an increase of 2.6 percentage points compared to the same period of 2023, from 23.2% of GDP to 25.8% of GDP.Expenditures on projects financed from non-reimbursable external funds (including subsidies from the European Union related to agriculture) were 30.9 billion RON.In the budget rectification recently adopted by the Government, the deficit for the current year was revised upwards from 5% of GDP to 6.94% of GDP. The Fiscal Council estimates, however, that the cash deficit will approach 8% of GDP in 2024.
Solar Open Day brought the public closer to a new photovoltaic park. On September 17, the Romanian Photovoltaic Industry Association (RPIA) organized in Călugăreni, Giurgiu County, the third edition of the event, which has already become a landmark for the solar energy industry. This year’s host was PPC Renewables Romania, which opened the doors of […]
Grivița 53, the first private theatre built in Romania in roughly 80 years, was unveiled in Bucharest after nearly a decade of construction and fundraising efforts that brought together more than 14,000 supporters. The project, valued at about EUR 4.5 million so far, was launched in 2016 by director and writer Chris Simion-Mercurian and Tiberiu […]
An injured 24-year-old French tourist was rescued after falling in the Valea Căldărilor area of Romania’s Bucegi Mountains on Friday morning, September 19. The young man was recovered by mountain rescuers after an operation that lasted more than six hours. According to the data communicated by Salvamont Prahova, he was part of a group of […]
Vodafone Romania and Digi Romania announced the signing of the relevant legal documents for acquiring Telekom Romania Mobile Communications from the OTE group and Deutsche Telekom on Friday, September 19. The two telco operators will split Telekom assets between them. As part of the deal, Vodafone spent EUR 30 million, while Digi paid EUR 40 […]
Sebastian Burduja, adviser to prime minister Ilie Bolojan and former minister of energy, warned of the security impact of the sale of major dairy Napolact to a group owned by a businessman close to the Hungarian prime minister Viktor Orban, according to
Romania could face energy poverty or even blackouts if coal-fired power plants are shut down before new gas-fired facilities at Iernut and Mintia are completed, energy minister Bogdan Ivan said in an interview with Digi24 on September...
