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.
The multimedia exhibition Aici Se Vede Jazz (Here You Can See Jazz), set to open at SAC Berthelot in Bucharest, explores how jazz found its way in the pre-1990 Bucharest and “the contemporary ways to listen, visualize, perform and relate artistically to its world of sounds and ideas.” Bucharest had improvised studios, rehearsals with the […]
Aon Romania, part of the global group Aon plc, draws attention to the urgent need for structured solutions to protect trade receivables in an economic context characterized by high volatility and geopolitical uncertainty. The subject was central to the discussions at TRADE CREDIT TALKS - Receivable Protection in the Age of Volatility, where business leaders […]
Bucharest’s shopping centres posted mixed financial results in 2024, with major discrepancies between the city’s largest malls and mid-sized retail centres, according to financial analysis platform RisCo.ro. The data shows contrasts in profitability and turnover, as well as significant losses among some of the capital’s biggest retail projects. AFI Cotroceni recorded the highest turnover of […]
Nearly nine in ten Romanians expect to spend less or no more than last year on Christmas shopping, according to a new survey by tbi bank that highlights the impact of rising prices on household budgets ahead of the winter holidays. The nationwide poll, conducted in October on a sample of 1,011 respondents, shows that […]
A total of 77% of homeowners who answered a survey by ING and Ipsos said they implemented measures in the past three years to improve energy efficiency. The need to save on energy bills was the main driver of household modernization, the survey showed. Most respondents (62%) said they did so to reduce energy costs, […]
The Romanian Constitutional Court (CCR) has ruled that a series of tax increases, including higher levies on housing, land, cars based on pollution norms, and stock market gains, may take effect starting January 1, 2026, Biziday.ro reported. The Court rejected a challenge filed by the opposition party AUR against the government’s fiscal reform law, on […]
