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.
Ultranationalist independent candidate Calin Georgescu would mark a clear win in the first round of the presidential elections (38%) but would not significantly improve his score in the second round against the candidate of the ruling coalition Crin Antonescu whom he might defeat with 39% to 38%, according to a poll conducted by Avangarde. The […]
Stanleybet Capital, the holding company overseeing one of the main sports betting and gambling operators in Romania – Game World Group – has announced a public bond offering to raise between EUR 3 and 5 million. The funds will be allocated to marketing and promotion efforts for its online and retail divisions, as well as […]
Ameropa Grains, Romania’s largest grain trader with an annual turnover exceeding RON 8 billion (EUR 1.6 billion), has listed silos in Călăraşi and Constanţa for sale, including strategic facilities with access to the Black Sea. Sources cited by Ziarul Financiar indicate that Cambela Prod,...
Dulcinella Romania, a local network of confectioners and pastry shops with Bessarabian roots, plans this year to open a factory in Târgu Neamț where the production activity would be relocated, which would help it reach a turnover of EUR 10 million, up 30% compared to 2024. The plant would have a production area of 4,700 […]
Romania has won an international arbitration case brought by investors in renewable energy, avoiding EUR 256 million in claimed damages. The International Centre for Settlement of Investment Disputes (ICSID) ruled on January 16, 2025, that Romania did not violate guarantees under the Energy Charter Treaty. The Arbitral Tribunal also ordered the claimants, a group comprising 28 […]
The volume of construction works in Romania decreased by 5.0% y/y in the first 11 months of 2024, according to data published by the statistics office INS. The figure compares to a 1.5% decline expected by the government for the entire 2024, included by the state forecasting body CNP in the latest projection drafted in […]
