The Commission has granted €2 billion to Italy, Spain, Luxembourg and Romania following the modification of two European Regional Development Fund, one European Social Fund (ESF) and one Fund for European Aid to the Most Deprived Operational Programmes (OP) under the Recovery Assistance for Cohesion and the Territories in Europe (REACT-EU). In Italy, the national OP ‘Governance and Institutional Capacity' will receive a total of €1.2 billion. Of this sum, €761 million will go towards buying 68 million doses of vaccines against the coronavirus. In the Southern regions, authorities will use €374 million to hire new public healthcare workers and cover the costs of extra hours worked by workers currently in the system. €108 million will help strengthen the administrative capacity of national and regional authorities, including in the healthcare system. In Spain, ‘Comunidad Valenciana' will receive additional resources of €690 million to provide, amongst others, working capital to the most affected Small and Medium-sized Enterprises, and to reinforce health, social services and investments in basic infrastructure for citizens, including in the health and education sectors. Luxembourg will receive €69 million to support large-scale coronavirus testing and the acquisition of vaccines, and investments in sustainability such as the electrification of the national bus network. In Romania, €56 million will be invested to provide material support for disadvantaged groups, such as hot meals, assistance to disadvantaged children with school supplies and to disadvantaged mothers with essential kits for their newborn babies. REACT-EU is part of NextGenerationEU and provides €50.6 billion additional funding (in current prices) over the course of 2021 and 2022 to Cohesion Policy programmes.
On Friday, June 6, the Cluj Court of Appeal heard the appeal filed by former health minister Sorina Pintea in the case in which she was accused of bribery, upholding the sentence decided by the Cluj Tribunal a year ago: 42 months of jail with execution. At the same time, the court decided to confiscate […]
Romania’s retail sales volume index increased by 0.4% y/y in April 2025, after the annual growth rate had decelerated to +3.5% y/y in Q1 from an average of +8.6% y/y in 2024, according to data published by the statistics office INS. Sales readings will likely remain weak in May, reflecting households’ concerns ahead of the […]
Because of the slower-than-anticipated GDP growth in Q1 (+0.3% y/y) and also accounting for high-frequency data signals for the second quarter, Erste Group has revised its full-year GDP growth forecast for this year to 1.3% from 1.8%. This is close to the government's 1.4% revised forecast issued in May. Due to the much-anticipated fiscal consolidation […]
Romania’s GDP increased by an average of 0.1 q/q over the past five quarters to Q1 2025, when it posted a meager 0.3% y/y advance and quarterly standstill (+0% q/q), according to data published by the statistics office INS. The new data provides details on specific formation and utilization segments but confirms the overall economic […]
Cristian Chivu has been named head coach of Inter Milan's First Team, marking a new chapter in his long-standing relationship with the club. The 43-year-old Romanian has signed a contract with Inter until June 30, 2027. “During his life, Cristian Eugen Chivu has faced major challenges and defining moments that shaped him, both as a […]
A total of 41.7% of Romanians consider the possibility of Romania being involved in a war as their primary concern, according to a survey conducted by INSCOP Research between May 26 and 30. The figure is nearly three times higher than the next most frequently cited concerns - healthcare and rising prices (around 15% each) […]
