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.
Céline Gauer, the director general of the Recovery and Resilience Task Force (or RECOVER) at the European Commission, arrived in Romania on Tuesday, July 15, to meet with officials regarding the implementation of the National Recovery and Resilience Plan, or PNRR. As the coordinator of the PNRR, which offers funding in the form of advantageous […]
Aluminium producer ALRO, a subsidiary of Vimetco PLC from Cyprus, celebrated 28 years on the Romanian stock exchange (BVB) and 60 years of uninterrupted industrial activity. Its market capitalization has increased nearly 21 times since its listing and now exceeds RON 1 billion. The company’s history began with the first batch of Romanian aluminium, on June […]
Something is quietly shifting in Romania. In places where paperwork, patchy Wi-Fi, and long queues once ruled, change is starting to show. Towns are more connected, cities are getting smarter, and essential services are beginning to live online, not in line. A tidal wave of digitisation is common to other areas of the globe, that’s […]
Several segments in Romania's A7 and A8 highway projects have lost funding from the National Recovery and Resilience Plan (PNRR) due to project delays, the minister of investments and European projects, Dragoș Pîslaru, announced on Tuesday, July 15, as reported by Biziday.ro. He did not specify which segments of these highways were affected. The statement […]
Real estate developer Redport and businessman Dan Șucu officially inaugurated the showroom for their latest residential project, Vitality Est, and announced the start of construction work on the site near Pantelimon Park and Lake in eastern Bucharest. The project, estimated at EUR 50 million, will include 500 apartments and 400 square meters of commercial space. […]
According to an analysis from real estate consultant Colliers based on National Bank of Romania data, Romanians spent more than EUR 3 billion on international travel in the first four months of 2025, 15% more than in the same period of 2024. If the current pace continues, Romanians’ spending on foreign holidays and business travel […]
