The draft State Budget Law for 2022 was launched on Sunday morning in public debate, on the website of the Ministry of Finance, which was set on revenues worth 216.473 billion lei, and expenditures in the amount of 493.215 billion lei engagement loans and of 301.758 billion lei budget loans, with a deficit of 85.285 billion lei.The budget for next year is built around an economic growth of 4.6% and an ESA deficit of 6.24% of GDP, according to the report on the macroeconomic situation for 2022 and its projection for 2023-2025.The report on the macroeconomic situation for 2022 and its projection for the years 2023-2025 show that the draft budget is configured on an economic framework with an economic growth of 4.6% forecast for 2022, with a peak in 2023 of 5.3% and an average annual rate of 4.9% over the entire horizon 2023-2025, higher than that estimated to be recorded in the EU and the Eurozone, 4.3%, given that the economic shock caused by the pandemic is one of the most significant in recent history, having, in the case of Romania, the particularity of a relatively rapid return of real GDP to the pre-pandemic level.According to the report, the deficit is estimated at 76.983 billion lei, respectively a share in GDP of 5.84%. In 2022, the ESA deficit is estimated at 6.24% of GDP in 2022, the cash deficit at 5.84% of GDP, and the structural deficit at 5.71% of GDP.The budget deficit forecast for the next three years shows a gradual reduction in the ESA deficit to 4.40% of GDP in 2023, 2.90% of GDP in 2024 and 2.02% of GDP in 2025.In 2022, investment expenditures amount to approximately 88.4 billion lei, representing 6.7% of GDP, and in 2025 they should reach approximately 136.2 billion lei, an increase in absolute value compared to 2022, but also as a percentage in GDP with a peak in 2025 of over 8% of GDP, and in 2024 they will represent 4.81% of GDP, an increase of 6.1 billion lei compared to 2021, with a peak in 2020 -2022.
Romanian prime minister Ilie Bolojan stated during an interview on Wednesday, December 17, that there should be no statute of limitations in cases of serious corruption. The statement comes after a Recorder investigation, which showed that several heads of the major institutions in the Romanian justice system allegedly delayed trials for years until wrongdoings were […]
President Nicușor Dan has challenged, before the Constitutional Court (CCR), the constitutionality of the law that requires that at least 40% of the athletes who play on a team in official national competitions be Romanian. Dan noted that the law violates the principle of non-discrimination and the free movement of workers, enshrined both in the […]
Craiova International Airport will open its new passenger terminal on Thursday, December 18, completing a major infrastructure investment aimed at significantly expanding capacity and improving air connectivity in southwestern Romania. It is part of a broader expansion and modernization project financed through the Large Infrastructure Operational Programme (POIM) 2014–2020, with a total value exceeding EUR […]
Romania is set to be connected to the Western European energy network thanks to grid investments worth EUR 30 billion. The funds will be provided by the EU by 2035, and the project will link Romania to Hungary and Austria in a joint project. Romanian energy minister Bogdan Ivan signaled the signing of the new […]
Franck Bagouet has been appointed managing director of TotalEnergies Marketing Romania SA and managing director of Automotive Southeast Europe Hub TotalEnergies Marketing. He succeeds Didier Grimault, who has accepted a new position within the TotalEnergies company. “I am glad to join this dynamic affiliate and confident that, together with our talented team, we will reinforce […]
Databricks, the data analytics and artificial intelligence company co-founded by Romanian professors Ion Stoica and Matei Zaharia, announced on Tuesday, December 16, that it is raising USD 4 billion in funding at a valuation of USD 134 billion, according to CNBC. The new valuation represents a 34% increase compared to the August round, when Databricks […]
