Romania is the most competitive country in the region in terms of labour costs relative to productivity, according to an Erste Group report quoted by Cursdeguvernare.ro. Although...
Romania will receive a 100 million euro loan from the World Bank (International Bank for Reconstruction and Development - IBRD) to improve judicial services, according to the agreement ratified by law on Wednesday by President Klaus Iohannis.According to the Agreement, the Ministry of Justice is designated as the implementing agency and as such is delegated full authority and responsibility for the implementation of the Project on Strengthening the Basis for Improving the Delivery of Judicial Services.Thus, the Ministry of Finance will enter into a subsidiary agreement with the Ministry of Justice, setting out the rights and obligations of the parties in the implementation of the Project and the application of the Loan Agreement.Romania's contribution to the financing of the Project shall be provided from the State budget, through the budget of the Ministry of Justice, within the limit of the equivalent in lei of the amount of 34 million euro, which includes expenses for services and compensation related to the expropriation procedure under the law on expropriation for public utility, necessary for the realisation of objectives of national, county and local interest, with subsequent amendments and additions, and the salaries of the staff of the Directorate for the implementation of projects financed from external loans within the Ministry of Justice.Payment of public debt service on the loan, repayment of principal, payment of interest, commissions and other costs related to the loan, shall be provided in accordance with the legislation in force on public debt, through the mechanism related to repayable financing contracted by the Government of Romania, through the Ministry of Finance, in order to finance the state budget deficit, refinancing and early repayment of government public debt.
Romania is the most competitive country in the region in terms of labour costs relative to productivity, according to an Erste Group report quoted by Cursdeguvernare.ro. Although...
Romanian president Nicușor Dan announced on July 18 that he will return recent amendments to the country’s law against extremist organisations to Parliament, despite the Constitutional Court rejecting his objections. The announcement was made during a press conference at the Romanian Embassy in Berlin. The contested legislation, commonly referred to as the Vexler Law, amends […]
Corratec, the Romanian production division of the German bicycle group, has signed a production contract with the Austrian brand woom, with bicycles to be primarily delivered to the European and international markets, according to Ziarul Financiar. Production will begin in November 2025. "This partnership...
EEAF Financial Services BV, the majority shareholder of Patria Bank (BVB: BPK), is evaluating strategic options for its 84.05% stake in the Romanian credit institution, including a potential full or partial sale, the bank announced on July 18. The move marks a potential ownership change at one of Romania's listed banks, although no firm decision […]
The new multiannual financial framework (MFF) 2028-2034 envisages a total of EUR 54.6 billion for Romania under the cohesion policies and common agriculture policy (general allocation) – 17% more compared to the previous 2021-2027 MFF, but at the cost of stricter disbursement criteria, according to the 2028-2034 MFF draft published by
The construction works volume in April-May increased by 0.8% y/y, according to data published by the statistics office INS. The sector’s modest performance comes after the 10.6% y/y surge in Q1 that was, however, driven by low base effects, therefore not entirely relevant. In fact, the average seasonally and workday adjusted construction works index in […]