Romania's budget deficit could increase, this year, up to 5.7%, as a result of the implementation of the law on fiscal-budgetary measures for which the Government pledged responsibility in the Parliament, Prime Minister Marcel Ciolacu declared on Wednesday in Kyiv.He says that the new deficit target could be assumed through a budget rectification that could take place in the next period."When Mr. Citu pushed the deficit from 2.7% to 9.2%, I did not see anyone take a bottle of gasoline to set themselves on fire in any market or on any television because he destroyed this country, making a bigger deficit by 100 billion lei. Moreover, I didn't see anyone set themselves on fire when he took the external debt from 37% to 50%, which meant another 100 billion lei. A prime minister from the PSD came and in three months it is a disaster that we do not close the deficit as assumed by a hypocrite from 4.4% and we hope to close with 5.5% - 5.7%. Suddenly it became an extraordinary problem. Romania is economically stable," said Ciolacu.Referring to the decision of the Constitutional Court of Romania to reject, on Wednesday, the notification of the Save Romania Union (USR) on the draft law on fiscal-budgetary measures, the prime minister accused the USR leaders of hypocrisy. Romania posted the EU's second-highest annual inflation rate and highest among EU member states in Southeast Europe (SEE) in September, at 9.2%, the EU's statistical office said on Wednesday. In comparison, Greece recorded the lowest annual inflation among EU members in SEE last month, at 2.4%, against an EU average of 4.9%, Eurostat said in a data release. In monthly terms, Greece's inflation rate was the highest in the region in September, at 1.9%, whereas consumer prices in the EU overall rose by 0.3% from their level in August. Croatia and Bulgaria, on the other hand, saw monthly declines in their consumer prices, at 0.7% and 0.3%, respectively.
Gold has been one of the most sought-after assets for centuries, and in the modern era, it has become a highly popular component of investment portfolios. A preferred asset for protection against economic risks, gold has delivered attractive long-term returns, increasing by approximately 8% per year over the past two decades. Since the end of […]
JTI Romania is the Top Employer for the 12th year in a row, being ranked third amongst 44 companies locally awarded, after an assessment conducted by the Top Employers Institute. The company was rated for about 20 criteria such as leadership, talent acquisition, on-boarding, digital HR, work environment, career development, learning, ethics & integrity, diversity, […]
Romanian defense minister Angel Tîlvăr stated that the contract for the Patriot system, which will replace the one ceded by Romania to Ukraine, is expected to be signed in February. The minister commended the decision of the United State government to approve the delivery of three Patriot systems to Romania. Raytheon stated it will collaborate […]
Romanian companies are entering 2025 with cautious optimism, focusing on managing risks and controlling costs, according to the Deloitte 2025 Romania CFO Survey conducted at the end of last year among approximately 130 Chief Financial Officers (CFOs). Most of the Romanian CFOs predict an increase in revenues for this year (58%), but their share has […]
Several employees of the Romanian Senate began protesting and booing while the president of the upper Chamber was announcing that staff restructuring would be implemented to reduce public spending. Ilie Bolojan, president of the National Liberal Party and head of the Senate, announced a reduction in the organizational chart from 796 positions to 618 positions. […]
The members of the Romanian angel investor network TechAngels put EUR 2.757 million in direct investments in tech startups in the second half of 2024, almost triple the amount invested in the year's first half. The investments for the entire 2024 rose to EUR 3.777 million, a 25% year-on-year increase. The rounds backed by TechAngels […]
