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.
The high-end natural plum jam sold by Sonimpex under the brand Topoloveni is not in demand by the target market of Cash&Carry chain Metro – owners of small proximity stores and HoReCa firms, the German retail chain said in response to discrimination accusations expressed by the Sonimpex owner, quoted by
The leader of Romania's Liberal Party (PNL), Nicolae Ciuca, formerly prime minister and currently co-president of the country's ruling coalition, confirmed for Digi24 firm plans to run in the presidential elections this autumn. This should boost the party's score in the...
Amethyst Romania, a radiotherapy clinics chain set up by the entrepreneur Ludovic Robert, has started the EUR 10 million project of a new center in the northwestern part of the country at Satu Mare. This will be the fifth Amethyst hospital dedicated to oncological treatments in Romania, after the existing units in Bucharest, Cluj-Napoca, Alba […]
Romania’s natural gas company Romgaz (BVB: SNG), with Rothschild Bank as its adviser, hired JP Morgan to lead the consortium of banks that will intermediate the sale of bonds on the foreign market under an MTN scheme aimed to finance the Black Sea gas project, Neptun Deep, Ziarul Financiar announced...
The government of Romania took steps to increase the ceiling of the Medium Term Note (MTN) scheme by EUR 7 billion to EUR 75 billion, citing the EUR 8.5 billion financing needs in 2025 but also another EUR 0.6 billion-1.6 billion issues this year and potentially EUR 1 billion in case not all the Resilience […]
The shares of four other companies listed on the Bucharest Stock Exchange (BVB) will be included in the MSCI Frontier, MSCI Romania, MSCI Frontier IMI and MSCI Romania IMI. Romania will thus have 30 listed companies part of the MSCI indices as of June 1, 2024. The shares of telecom group Digi Communications (DIGI)...
