Romania’s budget deficit may significantly exceed a target agreed with the European Union this year without a series of spending cuts and new revenue-boosting measures, Finance Minister Marcel Bolos said quoted by Bloomberg correspondent. The shortfall may reach 7% of economic output this year, compared with a target of 4.4% set by the cabinet, the state-run Agerpres news service cited Bolos as saying Thursday in a speech in the northern town of Beclean. An emergency decree with measures that will likely include bonus cuts for state workers and scrapping several tax exemptions should be agreed by the ruling coalition next month to avoid losing European funds, he said. “These measures that we plan to approve will limit the swelling of the budget deficit and, even if we are a bit frayed at the ends this year, we’ll be in much better shape next year,” Bolos said. Romania’s budget deficit widened after the first half of the year to over 2.3% of GDP as revenue collection slowed and expenses increased. The Black Sea country has pledged to bring the deficit back toward the EU’s 3% of GDP limit next year, compared with 5.7% last year.
If you’re searching for a hidden gem in Europe, Romania is calling your name. Tucked between the Carpathian Mountains and the Black Sea, this country is an untouched marvel, combining natural beauty, rich history, and endless opportunities for entrepreneurs and retirees alike. Romania offers a unique blend of modern life and ancient charm, making it […]
Let’s talk about the lack of connection with our body and how this is closely tied to burnout, plus, what to do about it. So often throughout the day, we live almost entirely in our minds. We’re focused either on what we have to do at the moment—tasks that increasingly demand mental effort over physical […]
Six men and one woman from Romania have been accused of recruiting dozens of children and adults from foster care centers, whom they then transported to Hungary, where they turned them into slaves, forcing them to work under inhumane conditions. The accused are from the localities of Ozun and Chilieni, Covasna County, Romania, and allegedly […]
The Museum of Collectivization, the first in Romania dedicated to the forced collectivization period of the communist era, is set to open a new wing, Corp B, funded through the EU-backed National Recovery and Resilience Plan (PNRR) and co-financed by the National Cultural Fund Administration (AFCN). With the new building, the museum located in Tămășeni, […]
Romania’s “Madrigal – Marin Constantin” National Chamber Choir, conducted by Anna Ungureanu, will be in Luxembourg and Belgium, as part of the “Bridges Across Europe/Punți peste Europa” European tour, where it will perform five extraordinary concerts. The performances will take place between November 20 and 25, with the help of the Ministry of Culture, the Romanian Embassy […]
The European Development Bank approved a EUR 140 million loan for Romania’s “Cultural Foundations” project, aimed at preserving historical monuments and constructing cultural buildings in the country. The project targets 14 investment objectives of national and European relevance, administered by public institutions under the Ministry of Culture, including the Romanian Athenaeum, the Romanian National Operas […]
