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.
The 13th edition of Romanian Design Week will take place in Bucharest between May 16 and 25, 2025, with the theme "Design Tomorrow Today." According to the organizers, starting with the 2025 edition, the festival begins a transformation process, focusing on collaboration, sustainability, and a deeper connection with the city and its residents. The program […]
Kodesage, a Hungarian startup specializing in AI-powered solutions for legacy software modernization, has raised EUR 2.3 million in pre-seed funding led by PortfoLion Capital Partners. Romanian angel investors Marius Istrate and Dan Lupu, former UiPath executives, also participated in the funding round. Kodesage’s AI-powered platform streamlines modernization and accelerates employee onboarding while ensuring compliance and […]
Thousands of Romanians in the United States risk deportation at any moment under Donald Trump’s new immigration policy that targets illegal immigration, according to media reports. Less than 10 days after Donald Trump’s inauguration, over 3,500 illegal immigrants from various countries, mostly from Latin America, have already been deported, and images of them in handcuffs […]
A Memorial Route of the December 1989 Revolution will be set up in Timişoara, the western Romania city where the 1989 started. The route will include nine points marked by ground-level monuments. Where the space allows it, benches will also be added and trees planted, the Timişoara City Hall said. Each monument will feature a […]
Eltra Logis, one of the main players in the niche logistics, transport and storage market, plans to expand its warehouse capacity by another 10,000 sqm, reaching a total of 20,000 sqm in the near future. This expansion will enable the company to meet the growing demand from businesses and strengthen its market position, continuing to […]
A group of Romanian citizens stranded in the North Kivu region of the Democratic Republic of Congo due to military conflict has been successfully evacuated from the country, but not before some of them were filmed being threatened by the advancing rebels. The Romanian citizens were working as private contractors for the Congolese government, training […]
