In 2023, the current account of the payment balance recorded a deficit of 22.694 billion euros, 12.85% lower than the one of 26.040 billion euros in 2022, the National Bank of Romania informed on Tuesday. In its structure, the balance of goods recorded a deficit lower by 2.990 billion euros, the service balance recorded an excess higher by 204 million euros, the primary income balance had a deficit lower by 9 million euros, while the secondary income balance recorded an excess higher by 143 million euros. Over January-December 2023, the total foreign debt grew by 24.926 billion euros, to 168.812 billion euros. The long term foreign debt was 121.162 billion euros on December 31, 2023 (71.8% of total foreign debt), on the rise by 22.8% against December 31, 2022; the short term foreign debt on December 31, 2023 was 47.650 billion euros (28.2% of total foreign debt) on the rise by 5.3% compared to December 31, 2022. The long term foreign debt service was 17.4% over January- December 2023, compared to 17.9% in 2022. The coverage degree of imports of goods and serviceson December 31, 2023 was 5.6 months, compared to 4.4 months on December 31, 2022. The short term foreign debt coverage, calculated as residual value, with BNR foreign currency reserves on December 31, 2023 was 97.4%, compared to 82.4% on December 31,2022.
Five IAR-99 SM aircraft, modernized at the Craiova Aircraft Factory, or Avioane Craiova, will be part of Romania’s air force coordinated by the Ministry of Defense. According to Dolj County Council president Cosmin Vasile, two of these aircraft performed a demonstration flight on Wednesday, March 12, in the presence of defense minister Angel Tîlvăr. "Five […]
At the International Property Awards in London, the world's most prestigious Awards program for all aspects of the Real Estate industry, STIRIXIS Group, the Greek design and consulting firm that designs and delivers buildings and spaces that act as catalysts for Real Prosperity worldwide, was honored with: 'The Best Public Service Design in the World […]
Edge Institute, a think tank made up of an independent group of experts united by the common vision of increasing Romania's digital development and evolution, was launched on Wednesday, March 12. The Institute aims to become a facilitator of digital transformation, bringing together expertise from the private, academic, and administrative sectors to provide viable solutions […]
The 24th edition of the Transilvania International Film Festival (TIFF), set to take place from June 13 to 22 in Cluj-Napoca, will feature a unique event that combines cinema with live music: Amadeus LIVE. The special event will present the 1984 film Amadeus, directed by Miloš Forman, which explores the life and genius of Wolfgang […]
As Europe moves toward a new era of industrial policy, Beko, the continent’s largest home appliance manufacturer, is making the case for a stronger, more unified approach. Attending the key event on the Deal, Beko emphasizes the urgent need to ensure that industries investing in decarbonization, energy efficiency, and innovation remain globally competitive. Having built […]
A recent survey conducted by Unlock Market Research for Colliers has revealed that fewer Romanians can afford to buy a home, with the percentage of urban homeowners standing at just 73%, significantly lower than the official statistic of 95%. Interest in homeownership has dropped from around 44% in previous years to 35% in 2025, driven […]
