The auto industry has signalled blockages in importing parts that are essential for the production of vehicles which, up to now, had been acquired from the market of Russia, but also Ukraine, but we will act in an applied manner and come to the support of companies in the sector, said Economy Minister Florin Spataru, after a meeting with representatives of industrial sectors with a significant share of the GDP of Romania."Romania has exited the state of alert, yet it continues to face an economic crisis created by the military conflict between Ukraine and the Russian Federation, which came on top of a pressure already felt by the industry due to price increases in energy. As part of the task force organized at the Economy Ministry which saw the attendance of the main industrial branches directly affected by the start of the military conflict on our border, we have managed to sketch an image based on the real needs in the market, so that we may act in an applied manner and come to their support," said Spataru, according to a release of the Ministry of Economy, sent on Friday ."Furthermore, the representatives of the industry also signalled blockages in freight transport in Constanta Harbor. In this context, we believed it opportune, at one of the future meetings of the task force, to have the Romanian Customs Authority attend for applied discussions on the import conditions from EU and non-EU states," Florin Spataru said.
The four parties seeking a new ruling coalition in Romania have nominated candidates over the weekend for the ministries they are supposed to oversee, while a final agreement on the coalition's protocol is expected to be sealed on June 23. Some of the candidates proposed by parties have already prompted criticism, while prime minister-designate Ilie […]
The Romanian government has published a draft decision approving a strategic programme for the development and modernisation of Bucharest Băneasa – Aurel Vlaicu International Airport (AIBB-AV) covering the 2025–2035 period, Agerpres reported on June 20. The...
Romanian furniture manufacturer Taparo, a key supplier to IKEA and major European retailers, is nearing bankruptcy after its judicial administrator formally requested the Maramureş Court to initiate bankruptcy proceedings, citing the full cessation of the company’s operations. The request, filed on May 29, was recorded in the Insolvency Proceedings Bulletin,
Romania will maintain its standard VAT rate at 19% but will eliminate most preferential VAT rates beginning in August, retaining reduced rates only for food and medicines, Digi24 reported on June 20, citing sources close to the negotiations between president...
In a recommendation to be published on June 23 and proposed for endorsement in the July 8 meeting of the Economic and Financial Affairs Council (ECOFIN), the European Commission sets an updated fiscal consolidation trajectory for Romania, sets October 15 as a deadline for the annual update under the Excessive Deficit Procedure (EDP), and requires […]
The Economic and Financial Affairs Council (ECOFIN) on June 20 adopted a new decision establishing that Romania has not taken effective action in response to Council recommendations in the context of the Excessive Deficit Procedure. No further action was taken yet, however. Specifically, Romania failed to observe ECOFIN’s January 21 recommendation, which stipulated that the […]
