Romania submitted on Friday a request to the European Commission to amend its National Recovery and Resilience Plan (PNRR) and to add a new chapter on REPowerEU, which aims to strengthen the Union's strategic autonomy by diversifying energy supply and increasing the EU's independence and security of energy supply.According to a press release from the EU executive, the chapter on REPowerEU proposed by Romania covers two new reforms and six new investments, as well as a reinforced measure already in the plan. The reforms and investments in this chapter are related to increasing green energy production, improving the energy efficiency of buildings and strengthening the skills of the green energy workforce.The amendment to the plan proposed by Romania foresees the removal of four investments from the initial plan and the modification of about 70 measures.Romania's request to amend its plan is based on the need to take account of high inflation in 2022, supply chain disruptions and the downward revision of its maximum grant allocation under the Recovery and Resilience Mechanism (RRM) from EUR 14.2 billion to EUR 12.1 billion. This revision is part of the June 2022 update of the RRM grant allocation key and reflects Romania's comparatively better economic performance in 2020 and 2021 compared to the initial forecast.Romania has requested the transfer of its share of the Brexit adjustment reserve, amounting to EUR 43.2 million, to the NRRP. Together with the grants provided to Romania through the RRM and REPowerEU (EUR 12.1 billion and EUR 1.4 billion respectively) and the RRM loans already committed under the original plan (EUR 14.9 billion), these funds bring the value of the amended plan presented to almost EUR 28.5 billion.The Commission will now assess whether the amended plan continues to meet all the assessment criteria set out in the RRM Regulation.If the Commission's assessment is positive, the EC will present a proposal to amend the Council Implementing Decision to take account of the changes to the Romanian plan.Member states will then have four weeks to approve the Commission's assessment.
The average price per square meter requested by real estate developers and owners for residential units in Romania increased by 15% in 2025, with the highest rise seen in Craiova, according to a survey conducted by Imobiliare.ro, as reported by Profit.ro. ...
Authorities in Prahova County announced on Monday the full resumption of water supply in all 13 towns and communes that had been left without drinking water for more than a week due to problems at the Paltinu Dam, Bursa.ro reported. Residents, however, have been warned that the water is not yet safe for consumption...
Chances are slim for the Social Democratic Party (PSD) to pull out of the ruling coalition this year, maybe only if something extraordinary happens, according to a leading member of the party consulted by Hotnews.ro. The party is again exploring options after its...
The Romanian Senate on December 8 overwhelmingly rejected the president's objections to the bill on combating extremism, also known as the Vexler law. There were 75 votes for maintaining the amendments referred by president Nicusor Dan to the Constitutional Court in a first step and then returned to lawmakers for a second review,
In the first 11 months of 2025, Romania produced 2.5% fewer automobiles compared to the same period last year, Ziarul Financiar reported. The country's automobile production totaled 505,859 units during the period. Out of this, 275,527 units were produced by Dacia and 230,332 by Ford Otosan. In...
Franklin Templeton, the long-time manager of Fondul Proprietatea (FP), has formally notified the Bucharest Stock Exchange that it is now willing to negotiate a new four-year mandate, reversing its earlier decision to withdraw from the administrator selection process. According to the announcement, Franklin Templeton International Services - FP's alternative investment fund manager (AIFM) and sole […]
