The costs with the interest will reach 2% of GDP next year, and what the National Authority for Fiscal Administration collects in a month out of twelve will be paid for interest, says Alin Chitu, State Secretary in the Ministry of Finances (MF).‘We start from an area where we get gradually to 25% fiscal income in the GDP and either we decide to reduce expenses, including social services and I am talking about the ones which consume a lot, Health, Education so that we can keep this level of taxes that we have now, or it will be necessary to do some things, to collect more. And I ask you not to forget that next year we reach 2% of GDP for the interest costs. Practically, what the National Tax Administration Agency (ANAF) collects in a month out of twelve we pay for interests. And then, in a way, this balance is necessary in a way or another, not only from the perspective of the National Recovery and Resilience Plan (PNRR) stated Alin Chitu in the conference ‘ Competition in key sectors’ organized by the Competition Council.Asked about the fiscal reform, he said that ‘this is not a reform, but they are some steps, some decisions’.According to the MF representative, Romania must get at 30% fiscal income from GDP and for this the income must increase by 3%. This year, adjustments on the tax side will bring 1% of GDP.He also stated that the measures for digitization will bring four percentage points budget revenues at the finalization of PNRR.
Romanians are worse off now compared to 6 months ago, and 2026 will also be difficult, but from 2027 and then on, there is hope, said president Nicusor Dan during an interview with Romania TV. The government targets a deficit of 8.4% of GDP this year, marginally below 8.65% of GDP in 2024. To tackle […]
Imran Vilcassim, Chief Commercial Officer, Digital Platforms at BPC, explores how Romania’s booming digital payments outpace merchant readiness and why mobile POS is emerging as the practical solution. Romania’s digital payments volumes are rising fast, but merchant infrastructure isn’t keeping up. Independent market models estimate total digital payments will reach nearly
The attributes needed to reach the top of the business hierarchy, how to motivate and support the teams one works with, and how to tackle the unavoidable challenges that arise along the way were among the topics discussed at the event Inspiring Women in Business, organized by La French Tech Bucharest. Making it to a […]
More than half of the elderly people in urban areas in Romania face loneliness, and almost 310,000 of them experience it at a high level, according to a study conducted by the Association Never Alone, Friends of the Elderly, in partnership with Kantar Romania. The study, carried out in August 2025 on a representative sample […]
Square 7, part of retail park investor M Core, officially inaugurated its new Bucharest office last week, marking an important milestone for the company. More than 150 guests joined the event, including partners, collaborators, and team members. M Core is a family of property investment and management companies comprising LCP, Sheet Anchor, Proudreed, and Sheet […]
Real estate developer Hagag Europe Development has expanded its Romanian operations into the energy sector with the acquisition of BTD Distribuție și Furnizare, a local company specializing in natural gas infrastructure, distribution, and supply. The company has opened a new local division - Hagag Energy - and announced plans to invest more than EUR 400 […]
