The government adopted on last Wednesday two measures to support farm producers affected by drought, providing for financial compensation and the legal suspension of the repayment of current and outstanding loans until August 2025.The decision comes as more than 230,000 farm producers (individuals, companies or family businesses) were hit by drought between September 2023 and August 2024, and provides for drought relief grants in the amount of RON 1,000 for each affected hectare, government spokesman Mihai Constantin said. The aid is disbursable based on a damage assessment minute acknowledging that the affected area is at least 30%. The budget of this state aid scheme is RON two billion.Another measure adopted by the government to support farmers who had difficulties this year provides for the possibility of legally suspending the repayment of current and overdue loans due in 2024, until August 1, 2025. The facility applies provided that two requirements are met: the applicant for suspension must have a record ascertaining an extent of damage of at least 50%; the interest charged by the lender is higher than 2.5% plus ROBOR for loans in RON, and 2% plus EURIBOR for foreign currency loans, Agriculture Minister Florin Barbu explained.Another emergency ordinance adopted on Wednesday aims to expand the "Farmer's Loan" state aid scheme, so that advantageous state-guaranteed loans can also be accessed for the payment of outstanding debts to suppliers and input distributors."We are talking here about 100% state-backed loans with a fixed interest rate of 1.95, and the ROBOR and all other fees are borne by the Ministry of Agriculture and the Government of Romania. (...) Let me tell you one more thing: Romania's self-sufficiency rate for domestic products is 100%. This year's wheat production exceeds by 1.9 million tons the 2023 crop. Practically, we have the necessary output for both animal husbandry and for export," the minister emphasized.
On Friday, January 3, aerospace and defense company Raytheon Technologies was awarded a USD 946 million contract by the US Pentagon to deliver an additional Patriot missile systems to Romania, aimed at bolstering the country's air defense capabilities by 2029. The contract, which includes advanced radars, control stations, and interceptor missiles, marks Romania's third order […]
Romanian mountain rescuers announced on Friday, January 3, that they registered a record number of interventions and 161 calls for emergency assistance in the past 24 hours. A total of 162 people were rescued, over 100 of whom required transport to a hospital. "An unwanted absolute record of mountain rescue and first aid interventions in […]
Far-right politician and former presidential candidate Călin Georgescu announced in a message on X that he will appeal the annulment of the Romanian presidential elections before the European Court of Human Rights. On December 6, 2024, as Romanians abroad had already begun to vote, Romania’s Constitutional Court (CCR) unanimously annulled the entire presidential election process, […]
Romania seems poised to become a bigger tourist attraction in 2025 after being recommended as a stellar destination by Vogue and CNN. Both publications signal that their choice for Romania was determined by the overtourism noticed in other locations. “The lifestyle editors at Vogue thought long and hard about the best places to travel in […]
The American Chamber of Commerce in Romania (AmCham Romania) expresses its concern over the fiscal measures announced by the Government, but also about the immediate deadline for their implementation, January 1, 2025, which puts the business environment in a difficult situation and further affects economic predictability and investor confidence."Over the past five years, AmCham […]
Romania has become a full member of the Schengen Area at midnight, in the night between Tuesday, December 31, and Wednesday, January 1.Thus, after joining the free movement space with its air and sea borders, as of Wednesday, Romania also joined the Schengen area with its land borders.According to the General Inspectorate of the Border […]
