The gross government debt according to the EU methodology will be maintained, in the period 2024 - 2027, at a level that will not exceed 52.5% of the GDP, according to the Report on the macroeconomic situation in 2024 and its projection for 2025-2027, the Ministry of Finance (MF) published on Wednesday."In the medium term (2024 - 2027), the gross government debt according to the EU methodology will remain at a level not exceeding 52.5% of the GDP, below 60% of GDP, while the net government debt (gross government debt minus liquid financial assets) will not exceed 47.5% of the GDP," the report said.According to the document, in the medium term, the Ministry of Finance will pursue the objectives set out in the Government Debt Management Strategy for the period 2023-2025, namely: ensuring the financing needs of the central government while minimising medium and long-term costs; limiting the risks associated with the government debt portfolio; developing the domestic government securities market."The Ministry of Finance's policy is to provide financing predominantly in domestic currency, which will further facilitate the development of the domestic government securities market and at the same time support the reduction of exposure to foreign exchange risk, while taking into account the absorptive capacity of the domestic market as well as the need to diversify the investor base in government securities. Issues in euro on the domestic market will be considered for medium maturities, depending on market conditions and the appetite shown by the investment environment, under the conditions of an advantageous maturity/cost ratio," the report reads.In order to diversify the investor base and increase the accessibility of individuals to purchase government securities, the issuance of government securities to the general public will continue.At the same time, loans from international financial institutions (IBRD, EIB, EBRD, EBRD, etc.), as well as the amounts related to the loan component for the implementation of the National Recovery and Resilience Plan will contribute to the objective of minimising long-term financing costs.In order to improve public debt management and to avoid seasonal pressures in securing sources of financing for the budget deficit and refinancing government debt, the Ministry of Finance intends to continue the policy of maintaining a foreign currency financial reserve (buffer) at the disposal of the State Treasury, covering up to 4 months of gross financing needs.
President Nicușor Dan stated on Monday, November 10, that Romania meets all the conditions to become an innovation and production hub in the defense industry in Southeast Europe. “Romania meets all the conditions to become an innovation and production hub in the defense industry in Southeast Europe. Why? First of all, because it has a […]
Officials in the mountain resort town of Râșnov, central Romania, have issued an urban planning certificate for the transformation of a Boeing 737 airplane into a premium accommodation unit. The plane will be placed near the famous Bran Castle, and organizers expect it to become a tourist attraction. “The project is located in the Pănicel […]
Traffic (Jaful Secolului), a Romania-Belgium-Netherlands co-production directed by Belgian-Romanian director Teodora Ana Mihai from a screenplay by Romanian filmmaker Cristian Mungiu, has received the award for best film at the Tertio Millennio International Film Festival in Rome. The jury of the festival noted in its motivation the film's "ability to combine formal rigor and human […]
The Romanian Justice Ministry advanced a legislative initiative according to which femicide could be punished with life imprisonment. The proposal comes after numerous women were killed this year by former partners, despite protection orders. The debate about femicide in Romania was brought back to the fore after another tragedy took place on Saturday, November 9, […]
Cultural center Apollo111, located in downtown Bucharest’s Universul Palace, has announced the program of arthouse films Apollo111 Cinema. The performance venue of Apollo 111 has been refurbished and endowed for professional film screenings. It will run a weekly program of contemporary and classic auteur films, meetings with filmmakers, and an experimental area, meant to “explore […]
Chinese consumer electronics manufacturer Xiaomi announced the official opening of its first own store in Romania, in Bucharest, inside the ParkLake shopping center, on the ground floor, on November 22. The new store will have a surface area of 150 square meters and will bring to the public the latest smartphones, accessories, and smart devices […]
