Romania ended 2021 with a budget deficit of 6.7 pct of GDP and we would have liked it to be 5 pct, but if so, we wouldn't have paid salaries and pensions, Finance minister Adrian Caciu said on Thursday at the Palace of Parliament."We managed to reduce the deficit for 2021. We're going to reduce the deficit in 2022 as well, but the fight against inflation is being conducted on several fronts. On the one hand, you reduce deficits and eliminate the risk of slippage. On the other hand, you have to act on the causes of inflation and the causes are the energy prices for which, next month, we come up with a series of solutions that will lead to stopping the increase in energy prices, if not their decrease," Caciu said.He added that the deficit could also be reduced by better revenue collection.Last year's budget deficit was set at 7.13 pct of GDP.The Minister of Finance participates on Thursday in the launching event of the four government programmes the institution is to implement in 2022, organized by the National Credit Guarantee Fund for Small and Medium Enterprises (FNGCIMM).The four programmes: IMM Prod, Rural Invest, Garant Construct and Innovation, are meant to support the objectives assumed through the Government Programme 2021-2024, in order to finance the economy and facilitate lending for micro, small and medium-sized enterprises, in partnership with the banking system and the associative forms of SMEs.
Bucharest’s District 3 City Hall will once again organize a special New Year’s Eve event in Titan Park, with a program of live concerts, multimedia shows, and even a simulation of the Northern Lights. The event, set to begin at 8:00 PM on December 31, will focus on the theme of infinity. “If you missed […]
Traffic on Lot 1 of the A7 Ploiești-Buzău highway, stretching 21 kilometers in southern Romania, was officially opened on Monday, December 23. With this opening, 102 kilometers of the total 320 kilometers of the highway are now usable. The Moldova Highway, as it has been called, is meant to connect Romania's economically underdeveloped eastern regions to […]
The Dutch technology investor Prosus NV, also the majority shareholder of Romania’s largest online retailer eMAG, is set to buy the online travel agency Despegar.com Corp, focused on Latin America, for approximately USD 1.7 billion. The purchase consideration will be funded from existing cash resources, the company said. Founded in Argentina in 1999, Despegar is one […]
The new Forestry Code, which passed the Parliament vote on December 17 and was signed into law by president Klaus Iohannis on December 20, includes provisions that protect all forests in Ilfov, the county surrounding Bucharest, making them the cornerstone of the future green belt around the capital city. Moreover, it legislates green belts nationwide, […]
Bucharest’s Police will be equipped with 100 state-of-the-art drug detection devices as part of a new initiative by the Capital City Hall, mayor Nicușor Dan announced. The acquisition has been completed, and the first 50 units have already been delivered to the authorities. According to mayor Dan, the devices, equipped with cutting-edge technology, can detect […]
Hotel International Băile Felix, in western Romania, will enter the Mercure brand after a franchise contract with French multinational hospitality Accor. According to the managing company behind the hotel, the publicly-traded Tourism Felix SA (TUFE), the approval of the franchise contract by the company's Board of Directors represents an essential first step towards sustainable development. […]
