The budgetary deficit continues to grow, which creates a higher pressure on the public finances, and Romania needs firm and urgent measures to keep its international credibility and economic stability, says the minister of finances, Alexandru Nazare.'The budget deficit continues to grow. I do not have a simple mission, but I will say with full responsibility: Romania needs firm and urgent measures to preserve its international credibility and economic stability. Today, the Ministry of Finance published the budget execution at the end of May 2025, and the data clearly show that the budget deficit continues to increase. In nominal terms, it reached RON 64.23 billion, RON 4.13 billion more than in the same period in 2024, even though in percentage terms it remains almost constant (3.39% of GDP vs. 3.41% in 2024). This widening of the deficit is creating increasing pressure on public finances, in a context in which Romania is under close scrutiny by the rating agencies and the European Commission,' the minister wrote on his Facebook page on Friday. He reiterated that the Fitch Ratings agency said that Romania is risking to lose its recommended investment grade if they do not apply rapid measures for fiscal consolidation, and the European Commission started the procedure for excessive deficit and required a plan for correction credible until the end of June and without it, Romania risks the suspension of European funds.The Finance Minister pointed out that revenues grew by 13.6 per cent, with large contributions from income tax, social security contributions, excise revenues and EU funds. At the same time, expenditures grew by 12.2 per cent, with the largest shares coming from social assistance expenditure, interest costs and public investment expenditure. 'Basically, spending grew at a faster pace than the country's economy managed to grow over the past year. If we do not urgently correct this imbalance, Romania's access to favourable financing may be jeopardised, with dramatic consequences for the economy, interest rates, investment and jobs', Alexandru Nazare pointed out. (Photo:https://www.facebook.com/)
The Romanian Ministry of Finance announced the sixth edition of the Fidelis government bond program for 2025, which will run from July 4 to July 11. This edition introduces a key novelty: for the first time, blood donors will be able to purchase bonds not only in local currency RON but also in euro. The […]
At the meeting held Monday, June 30, the Supreme Council of National Defense (CSAT), chaired by president Nicușor Dan, identified tax evasion as a major threat to the country's economic security. Moreover, the session addressed other topics of interest, such as Romania's military participation in international missions, developments in Ukraine, cyber threats, and infrastructure vulnerabilities […]
A new CURS poll published on Sunday, June 29, shows that if local elections were held in Bucharest next Sunday, reformist party USR would obtain 27%, followed by the Social Democratic Party (PSD) with 22%, and far-right party Alliance for the Union of Romanians (AUR) with 18%. The National Liberal Party (PNL) comes in fourth, […]
Last week, the European Public Prosecutor’s Office (EPPO) in Bucharest indicted three individuals for an EUR 100 million fraud in a case involving both EU and national funds. Among those indicted is an Italian citizen, alleged to be the leader of the group, which operated between 2019 and 2024. The suspect was detained on February […]
The number of building permits for residential buildings increased by 0.6% in the first five months of 2025 compared to the same period in 2024, with 14,134 such permits issued, according to data published Monday by the National Institute of Statistics. Increases were recorded in the Western region (+166 permits), Center (+70), North-West (+68), South-East […]
Cluj-Napoca, a major city in Romania’s Transylvania region, is taking a step toward becoming a more animal-friendly city, as a new proposal allowing pets in public institutions has been opened for public debate. Mayor Emil Boc announced the initiative, stating, “A city that is friendly to animals is a better city for people.” The draft […]
