In January - August 2024, the balance-of-payments current account posted a deficit of EUR 17,858 million, compared with EUR 13,830 million in January - August 2023, the National Bank of Romania (BNR) informs in a press release on Monday.The breakdown shows that the deficit on trade in goods widened by EUR 2,634 million, the surplus on services fell by EUR 863 million, the primary income deficit increased by EUR 979 million, while the secondary income surplus grew by EUR 448 million.Non-residents' direct investments in Romania totalled EUR 4,139 million (compared with EUR 4,382 million in January - August 2023), of which equity (including the estimated reinvestment of earnings) and intercompany lending recorded net values of EUR 3,563 million and EUR 576 million, respectively.In January - August 2024, total external debt increased by EUR 14,189 million to EUR 182,524 million, of which: long-term external debt at end-August 2024 ran at EUR 133,389 million (73.1 percent of total external debt), up 9.2 percent against end-2023; short-term external debt at end-August 2024 amounted to EUR 49,135 million (26.9 percent of total external debt), up 6.3 percent from end-2023.Long-term external debt service ratio stood at 13.8 percent in August 2024 against 18 percent in 2023. At end-August 2024, goods and services import cover ran at 5.9 months, as compared to 5.6 months at end-2023.At end-August 2024, the ratio of the National Bank of Romania's foreign exchange reserves to short-term external debt by remaining maturity came in at 101.1 percent, as against 99.7 percent at end-2023, the central bank points out.
The agency plans to expand its team and reach a turnover of EUR 450,000 by year-end. June Communications (JUNE), a business-to-business PR and integrated communications agency, has appointed Bianca Caragea as its new Operations Manager. The step strengthens the agency’s management team as it enters a new stage of growth after seven years of sustained […]
The Babeș-Bolyai University of Cluj-Napoca (UBB) has established an endowment fund, which the institution described as a "strategic" financial mechanism aimed at supporting academic excellence and ensuring the long-term sustainability of university projects. The initiative is a first of its kind in the local academia, UBB said. The endowment fund involves attracting donations/financial resources and […]
Romanian authorities are reportedly considering imposing an access fee for the Transfăgărășan mountain road. The funds would be used for setting up decent parking areas, selecting merchants, and similar initiatives. The beautiful, winding road is one of the most visited tourist attractions in the country. Local authorities say the funds from an eventual toll would […]
Colombian reggaeton superstar J Balvin will perform in Dubai for the first time this November, headlining Untold, the globally recognized festival born in Romania. The event will take place from November 6 to 9 at Dubai Parks and Resorts, featuring more than 100 international acts across five stages. The festival is staged in partnership with […]
More than 17% of Romania’s population faced severe material and social deprivation last year, which was one of the highest shares in the EU, according to the statistical bureau of the European Union - Eurostat. In 2024, 6.4% of people in the European Union faced severe material and social deprivation, a slight decrease compared to […]
The Freedom and Respect for Every Earthling association will hold the March for Animal Rights in Bucharest on October 4, to mark International Animal Day. The march will start at 11 AM at the National Theater Park, and will go on to Piața Victoriei. Organizers say they aim to bring to the forefront the suffering […]
