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.
Participation in cultural education activities continues to be limited, with the main barriers being difficult access, insufficient knowledge, and cost, the recently released Cultural Consumption Barometer 2024 shows. The report showed that many Romanians still associate culture with entertainment rather than with personal development or furthering their knowledge. The need for relaxation dominates in cultural […]
Roughly 84% of Romanians say that the pace of the state’s digitalization is slow or very slow, according to an Edge Institute & AtlasIntel study presented at the Digital Governance Summit 2025, which took place on Tuesday, November 25, at the presidential palace in Bucharest. The survey aims to capture the way citizens relate to […]
Romania’s Superior Council of Magistracy (CSM) issued a negative opinion on the new bill regarding magistrates’ pensions. The move is only the latest development concerning a heated issue that led to tensions between the executive and the judiciary branch. CSM’s opinion is consultative, and the government led by Ilie Bolojan can still take responsibility for […]
Romania took the presidency of the Central European Initiative (or CEI) on Wednesday, November 26, according to a press release from the Ministry of Foreign Affairs (MAE). The organization is a regional intergovernmental forum established in 1989, following the fall of the Berlin Wall. It gathers 17 Member States in Central, Eastern, and South-Eastern Europe […]
Trade between Romania and Poland continues to grow, with annual bilateral exchanges in goods now valued at more than EUR 12 billion, according to figures presented by the Polish-Romanian Bilateral Chamber of Commerce and Industry (PRBCC). The data was released during a reception in Bucharest marking Poland’s Independence Day and Romania’s National Day. Polish investments […]
As Romania moves closer to implementing the EU Pay Transparency Directive, local employers are preparing for one of the most consequential shifts in workplace regulation in over a decade. The directive, set for transposition by June 2026, introduces strict new rules on salary disclosure, pay reporting, and equal-pay verification, aiming to close persistent gender gaps […]
