The government paid in Q1 record interests of 8.6 billion lei, in the context where the public debt exploded last year, with a budgetary deficit of 102 billion lei, and the state continues with a very high deficit this year as well, which would reach from 80 billion lei to almost 83 billion lei following the budgetary adjustment, and makes plans for expenditure, such as the National Plan for Investments Anghel Saligny which would have a budget of 50 billion lei between 2021 – 2028, Profit.ro says. For the whole year, the expenditure with interests and commissions for the governmental public debt is estimated to 16.63 billion lei, a record sum. In the first six months of the previous year, the interests went up to 8.35 billion lei and for the whole year 2020 at 13.9 billion lei. The revenue of the budget for the first six months of this year was 176.38 billion lei, and the expenses 210.19 billion lei, with a deficit of 33.8 billion lei. According to the data published by the ministry of finances and quoted by Profit.ro, the level of state indebtedness was 49.5% of GDP in June, dropping slightly from 49.7% in May. The threshold of 50% was, probably, surpassed in July, month for which the ministry did not publish any data, after the state borrowed at the beginning of the month 3.5 billion euro (17.2 billion lei) from the foreign market. The fact that they used the foreign market is explained by the need to cover the necessary for financing in the context of months when they borrowed from the domestic market more.
The demand for skilled and unskilled workers is 10%-20% lower than it was last year, the experts are less inclined to change their jobs, and the contraction in the IT market already visible in the UK and western Europe is reaching Romania to some extent, according to Alexandra Peligrad, CEO of Smartree human resources company. […]
Sorina Pintea, former Social Democrat (PSD) member of the Parliament (2016-2017) and later minister of health (2018-2019), was sentenced to 3 years and six months of jail with execution for bribe-taking by a ruling given by Cluj Court on April 26. The decision is not final and can be appealed,
Banca Transilvania, OTP Bank, and Exim Banca Romaneasca won in court against the consumer protection body ANPC on the loan repayment formula, bringing to five the number of financial institutions that invalidated ANPC’s decisions, Profit.ro...
BayWa RE Romania, the Romanian subsidiary of the renewable energy division of the conglomerate of agricultural cooperative associations BayWa from Germany, plans to build its first photovoltaic park in Romania starting next year, according to
The Romanian branch of the Austrian major integrator of IT&C solutions Kontron (formerly S&T), Kontron Services Romania, has planned to trigger a collective dismissal process, as a result of which 84 employees out of a total of 258 people will lose their jobs starting on June 13, according to
The Macroeconomic Confidence Indicator compiled by the CFA Romania Society decreased in March by 1.4 points, to 59.4 points on a 0-100 scale, with the 50-point benchmark indicating a balanced state of economy and expectations (or a balanced combination). "Although, in the short term, due to the influx of public money, the confidence in the […]
