The 2025 budget was presented to the International Monetary Fund mission, which had no recommendations to make to the Romanian side, Finance Minister Tanczos Barna said on Tuesday."We received no recommendation on no visit, from anyone. (...) My colleagues had a purely technical discussion where we made a presentation of the budget. Period," the finance minister said after the debates on the general directions in the 2025 state budget blueprint held in the joint budget & finance committees of Parliament.Asked about the danger of Romania ending up in the 'junk' category of non-investment grade countries, after two rating agencies downgraded its outlook to negative, Barna replied: "I am convinced that Romania will not end up in junk. It's a strong signal, and this signal was received by the government and the governing coalition, and that's exactly why the budget is built on a 7% deficit. That is precisely why we were at ECOFIN last week and we committed once again to observe that calendar for reaching 3% in 7 years. That is precisely why we had a meeting with the World Bank, we met with investors, in order to convey this firm commitment of Romania: no matter the government at rule, no matter who the prime minister or the finance minister is, for 7 years Romania will stick to this plan. It is priority No. 1 for anyone who comes to government that Romania returns to a 3% deficit, that it continues investments and that we do not revert to a 3% deficit on the account of slashing investments from the budget. This parallelism can be maintained. We have European funds that support investments and we have a very firm commitment. You've seen that Mr. Bolojan has already started downsizing the staff at the institutions he leads. Reform has begun at county councils too, and we need reforms to keep spending under control," added the finance minister.An International Monetary Fund mission is in Bucharest over February 3 - 7 to review the latest economic developments and update forecasts.Currently, Romania does not have a financing agreement with the International Monetary Fund, but the financial institution annually evaluates the Romanian economy, based on Article IV consultations.As far as the rating outlook is concerned, in December 2024, rating agency Fitch announced that it had worsened Romania's outlook from stable to negative, and in January this year S&P Global made a similar announcement.
The Day of Timișoara, a celebration of the city in western Romania, will see performances from Mika and James Bay, among other artists. From alternative pop and British rock to jazz, electronic music and community experiences, The Day of Timișoara brings together in 2025 the top events of the Timișoara music scene, including Timișoara Jazz […]
The Bucharest public can attend this month a performance of Noh theater, the centuries-old Japanese mask drama, delivered by Yamamoto Noh Theater. Two works will be presented. Jiai – A Soul's Journey is a recent creation, a rare occurrence in Noh theater, where original creation requires a deep knowledge of classical Japanese language and theatrical […]
Horia Colibășanu, one of Romania's most famous high-altitude climbers, is set to embark on a new high-altitude expedition this summer, aiming to summit Nanga Parbat - one of the world's most dangerous peaks. Standing at 8,126 meters, it is the ninth-highest mountain on Earth and the second-highest in Pakistan. The expedition marks a major milestone […]
The ancient forests of Băiuț in northern Romania are poised to host Eastern Europe’s first certified forest therapy trail, a pioneering project blending science, health, and conservation, WWF Romania said. Announced during the “The Forest Heals” symposium on June 4, the initiative aims to transform the centuries-old woods of Strâmbu-Băiuț, part of Romania’s UNESCO Natural […]
Romanian citizens can now access official information about the new electronic identity card (CEI) through a dedicated government website, launched on Wednesday, June 4. The platform provides detailed guidance on how to obtain the new card, explains its features and security elements, and outlines the differences between electronic and traditional identity cards. The site is […]
Romanian president Nicușor Dan held his first press conference at the Cotroceni Palace on Wednesday, June 4, outlining key priorities for his mandate, including upcoming fiscal measures, government formation talks, and the foreign policy agenda for June. He announced that the first draft of the future governing program is expected by Monday, June 9, with […]
