The financial markets have no patience with Romania and the lack of realism and the misunderstanding of the situation we are in is appalling, says the chairman of the Fiscal Council, Daniel Daianu.'We have to cut this budget deficit and we don't have time. I repeat, this discourse, 'let's collect better', 'let's reform the state', sir, sounds good, but they are slogans. The financial markets have no patience with Romania. That will show in the budget execution. If we collect better in 2026, that will show. Until then you cannot present such a package to investors, rating agencies and the Commission. However, we have a rather fractured dialogue with the Commission. And that has to be said. I have heard 'cutting spending has no impact on growth'. How can cutting spending not have an impact? We need to reduce aggregate demand, i.e. domestic absorption. Whether we do it on the spending side, whether we do it on the revenue growth side, aka tax increases. We don't even have time for fine tuning, because some people are saying 'sir, you have to have an optimum, you have to have impact studies. Now let's tell those external funders, you know we still need to do impact studies. See? The lack of realism, the lack of understanding of the situation we're in, to my mind, is appalling. And I notice that there are analysts, economists, so-called macroeconomists, who come up with this discourse: 'Let's collect better first'. I sit and I ask myself, man, has that man ever talked to the people who finance us? Did he talk to the rating agencies? This is not a symposium on economic thinking at the University of Applied Sciences, where we're evoking all sorts of theories. Things are clear', said Daniel Daianu at the 17th annual conference of the Association of Financial Analysts and Bankers of Romania (AAFBR). Under these conditions, Daianu considers that in case we don’t have a credible package for adjustment, the markets will react ‘for us with much clutter’. As regards the fiscal policy, he said that it should no longer ‘throw sand in the gears’ to the monetary policy because the National Bank is not a magician.
Romania has 454 casinos, which places the country right after the United States, which hosts 2,147 such places and over 600 casino hotels, B1tv.ro reported. Bucharest ranks as the second city, after Las Vegas, in terms of the number of casinos per population....
The candidate of the National Liberal Party (PNL) for Bucharest general mayor, Ciprian Ciucu, is two percentage points ahead of Daniel Băluţă, the representative of the Social Democrats (PSD) in the race, seen so far as the preferred one, according to a survey commissioned by the Liberal Party and published by Cotidianul.ro, as reported by
Romania is nearing the conclusion of a "huge USD 30 billion" investment agreement with the United States covering nuclear, hydro, natural gas, and artificial intelligence-based technologies, energy minister Bogdan Ivan announced last week, according to Ziare.com and
Romania’s minister of economy Radu Miruță said on November 3 that a share of the funds allocated to the country under the European Commission’s Security Action For Europe (SAFE) programme could be used to revitalise the Mangalia shipyard and strengthen the country’s defence and transport infrastructure,
Spanish company Telefónica is considering the acquisition of Digi Communications (BVB: DIGI) of Romania, active at home but also on the markets of Italy and Spain, in a deal that could significantly change the European telecommunications market, according to Ziarul Financiar, citing Spanish publications...
A still significant share of the foreign investors in Romania surveyed by the Foreign Investors Council (FIC), namely 40%, expect their markets to expand, while 47% expect stagnation, leaving a small share of investors undecided or pessimistic. The expectations for external demand are below average, with only 29% of those surveyed expecting higher exports and […]
