The public administration sector's financial assets in Q1 2025 decreased by 1.1 percentage points to 25.7% of GDP, compared to the year-ago period, according to data published by the National Bank of Romania (BNR).According to the cited source, the trend was mainly generated by the decrease in the availability of cash and deposits, whose stock decreased (-9.1%) to 6.5% of GDP, in the political and economic context of the election period.Loans granted by public administrations increased (+2.4%) to 2.1% of GDP (down 0.1 percentage points compared to Q1 2024). Equity participations and shares/investment fund units remained at the same level of 9.8% of GDP. Other accounts receivable (taxes, social contributions, trade receivables, amounts owed by economic agents to public authorities, and external receivables) increased by 0.2 percentage points to 7.1% of GDP.Financial commitments of public administrations, expressed as a percentage of GDP, increased by 3.7 percentage points, reaching 60.4% at the end of Q1 2025."This development was mainly driven by the increase in debt securities (+2.8 percentage points during the period under review), to 41.2% of GDP, as a result of bond issues launched by the Ministry of Finance on the domestic and foreign markets to finance the budget deficit and refinance government debt," BNR points out.Committed government loans increased by 23.7% compared to Q1 2024, due to the issuance of non-negotiable retail government securities under the Tezaur program. In relative terms, the indicator increased by 1.2 percentage points to 8.8% of GDP.Other accounts payable reached 9.4% of GDP.The public administration sector's net financing requirement was 2% of GDP in Q1 2025, compared to 2.4% of GDP in Q1 2024. The central government recorded a net financing requirement of 2.3% of GDP (compared to 2.6% of GDP in Q1 2024). The local administrations' net financial requirement stood at 0.3% of GDP (0.2% of GDP in Q1 2024). Social security administrations recorded a net financing requirement of 0.04% in Q1 2025 (compared to 0.1% of GDP in Q1 2024).
Ion Iliescu, Romania’s first president after the fall of communism in December 1989 and one of the country’s most influential and controversial political figures, died on Tuesday, August 5, at the age of 95. His death was announced by the government, which expressed condolences to his family and stated that details regarding the state funeral […]
A large medieval cemetery was discovered this week at the Hasdeu High School in Lugoj, western Romania. The complex may have extensions into the surrounding yards and a high historical importance. Although the excavations are only just beginning, with an estimated 10% of the necessary work completed so far, the discoveries have already showed promise. […]
A trilateral working meeting for the creation of a regional cybersecurity alliance between Romania, the Republic of Moldova, and Ukraine took place on July 30 in Chernivtsi, Ukraine. The establishment of such a union would boost Romania's role in region. "The National Cybersecurity Directorate considers that the initiative to establish a cybersecurity coalition between Romania, […]
Two Dacian gold bracelets from the collection of the National History Museum of Romania (MNIR) have been recently 3D scanned as part of a digital preservation project highlighting these exceptional archaeological pieces. The initiative, launched by the museum, aims to showcase the artistry and cultural significance of Dacian goldsmithing. Crafted with remarkable skill, the spiral-shaped […]
Arad, a city in western Romania dubbed the “Little Vienna,” will organize a celebration of its history and culture in the Austrian capital, between August 8 and 20. The Days of Arad Culture begin on August 8 with the photo exhibition "Arad of Yesterday and Today," which will highlight the architectural connection of the city […]
In a report published on Tuesday, August 5, the Group of States against Corruption, or GRECO, said that Romania has fully implemented two of the 26 recommendations made in the 2023 Fifth Round Evaluation Report on preventing corruption and promoting integrity among top executive functions of the central government and law enforcement. Out of the […]
