The bank loan moratorium, for bank debtors facing financial problems due to the crisis prompted by the war in Ukraine, was enacted by the Romanian Government on June 29. Those who face increases in spending by 25% are entitled to request the moratorium, which allows for the deferral of installments. Finance minister Adrian Caciu, however, recommended those debtors who can pay their installments not to use the instrument because they'll eventually pay more. "It is an instrument available to those who really have difficulty because, obviously, any postponement of installments will lead to the obligation for these installments to be paid later and with a series of costs along with them, respectively the related interest," Caciu said, quoted by Economica.net. The moratorium was also approved by the National Bank of Romania (BNR) but also by the Romanian Association of Banks (ARB). It is a tool for those in difficulty, both individuals and legal entities, minister Caciu explained. He outlined some alternatives customers have: switching to a fixed interest rate, switching from one benchmark to another (from ROBOR to IRCC) or refinancing the loan, rescheduling or restructuring the loan. Prime Minister Nicolae Ciuca said on Wednesday that the government will approve during the day several measures of the 'Support for Romania' program, mentioning a 9-month forbearance on bank installments, support for institutionalized children, young families and students and the extension of the 'SME Invest plus' program."We will continue to adopt the measures included in the 'Support for Romania' plan and to this effect we will approve today the suspension of bank installments for a nine-month period, a measure applicable to both individuals and companies facing difficulties caused by the increase in prices and all the elements related to the inflation everybody feels. Also, at today's government meeting we will approve the Emergency Ordinance on support to institutionalized children, young families and students," the Prime Minister announced at the beginning of the Executive's meting.Ciuca also mentioned that the 'SME Invest plus' program will be extended."It is a measure we are taking in order to continue supporting the SMEs that work in digitalisation, in research and innovation, in the digital field, as well as the establishment of start-ups," the Prime Minister added.He also announced that several decisions will be made at the meeting "aimed at accomplishing the milestones and targets set forth in the National Recovery and Resilience Plan for the second quarter", so that "the consistency of the program's implementation" is ensured.
Former US first lady Michelle Obama, the wife of Barack Obama, was in Bucharest on Thursday, September 18, to serve as the main guest at the second edition of the Impact Bucharest series of conferences. The former first lady spent about an hour in front of a large audience, speaking about her childhood in a […]
Czech president Petr Pavel spent a few days in Romania at the beginning of September while on holiday. According to statement by the Romanian Embassy in Prague, the Czech leader traveled mountain routes by motorcycle and chose modest accommodations. Pavel tried to see as much of what Romania had to offer. He planned his routes, […]
Romania is taking tangible action toward its green transition through sustainable infrastructure projects, public‑private partnerships and green bonds. Experts, government officials and business leaders have gathered today at the CES Bucharest ESG Conference, to present progress and identify solutions through which the public and private sectors can collaborate to build a sustainable and competitive economy. […]
Prime minister Ilie Bolojan announced that he will visit Brussels next week to talk to three European commissioners about deficits, defense, and EU financing. The first meeting will be with the commissioner for economy, Valdis Dombrovskis, as Romania “must adjust the issues related to deficits to be a trustworthy country, so as not to continue […]
A large majority of Romanians, namely 85%, have heard of celebrated composer George Enescu, according to the third edition of the Informat.ro – INSCOP Research Barometer conducted earlier this month. However, the survey shows a slight decline in cultural awareness compared to 2013, particularly among younger generations. The
The volume of trade between Romania and China was almost USD 9.3 billion in 2024, according to official statistics. Trade between the two, however, is not balanced. Romania registered a USD 7.7 billion deficit with China, and a USD 2.1 billion deficit in the first quarter of 2025 as well. The People’s Republic of China […]
