Romania aims to partner Ukraine to build drones under a new European Union defence funding mechanism, but it will be at least seven years before the country has a multi-layered air defence system, a government source said quoted by Reuters. The EU and NATO state shares a 650 km (400 miles) land border with Ukraine and has had drones breach its airspace and fragments fall onto its territory more than 20 times over the last two years, since Russia began attacking Kyiv's ports across the Danube from Romania. Tensions have mounted along Europe's eastern flank, where Estonia has accused Moscow of sending three fighter jets into its airspace and Denmark has closed airports due to suspected drones a week after NATO jets shot down Russian drones in Polish airspace. Romania also came close to shooting down a drone. "We need more air defences, nobody has them," a Romanian government defence source told Reuters. "Until then, defence will be asymmetrical with huge anti-aircraft costs which could only be covered on a NATO level." The source says Romania was in talks with Ukraine, whose drone technology has been "battle tested at large scale" to produce drones in a project to be funded via the EU's "SAFE" rearmament initiative. Romania will have 16.6 billion euros ($19.4 billion) available under SAFE, which Prime Minister Ilie Bolojan said would ensure military acquisitions worth around 1% of output annually for five years. Romanian air defences currently include F-16 fighter jets, Patriot systems, Lockheed Martin's HIMARS rocket launchers, short-range South Korean surface-to-air Chiron missiles and German anti-aircraft Gepard guns.The latter two were Romania's most cost-effective option for drone defence at the moment, the source said. Gepards are placed near populated areas close to the Ukrainian border, but the cost of covering the entire border and manning them would be prohibitive.
The gross income of employees who worked full-time under a labour contract and were paid for the entire month of October 2024 was RON 8,374, more than a quarter above the basic gross salary of RON 6,553, according to data from the National Institute of Statistics (INS) published on Friday.Around 40% of these employees earned […]
Over 31,600 building permits for residential properties were issued in the first ten months of this year, up 4.1% compared with the same period last year, according to data from the National Institute of Statistics (INS) published on Friday.Increases were recorded in all development regions: West (+297 permits), Centre (+235), North-West (+192), North-East (+134), South-East […]
VAT revenues increased in the third quarter of this year by 6.74 billion lei compared to the same period last year, totaling 35.48 billion RON, out of a total of 94.75 billion RON for the first nine months of 2025, according to data transmitted on Monday by the Ministry of Finance.Of the amount of 6.74 […]
Banca Comerciala Romana (BCR) listed on Friday a new bond issue on the Regulated Market of the Bucharest Stock Exchange (BVB), worth 1.12 billion RON, the BVB said in a release.This is the 11th bond issue listed by BCR on the Stock Exchange to date, bringing the total value of BCR's listed bonds close to […]
Romania's insurance sector is strengthening its performance against the backdrop of a dynamic market undergoing significant structural transformation, according to a new study on developments in the insurance markets of Central and Eastern Europe, conducted by a consultancy firm in partnership with a research provider."Romania stands out as one of the most dynamic insurance […]
The minimum turnover tax is a barrier to investment, and in a period when the private sector is undergoing restructuring and layoffs, it adds additional pressure on companies, according to a letter signed by 14 investor organizations that once again request the elimination of the minimum tax."In view of the discussions on the construction […]
