Execution of the consolidated general budget in the first 10 months of 2021 ended with a deficit of 47.98 billion lei (4.03% of GDP), dropping from the deficit of 74.04 billion lei (7.01% of GDP), registered during the same period of 2020, the Ministry of Finance informs.During the first 9 months of 2021 the budget deficit was 44.29 billion lei (3.77% of GDP).The Ministry of Finance informs that this evolution was determined by: increase of budgetary revenues by 1 percentage point of the GDP (year/year), mainly influenced by the advance of VAT receipts; budgetary expenses cuts by 2 percentage points of the GDP (year/year), mainly as a result of the ratio reduction in the GDP of the expenses with salaries and social assistance. Furthermore, during the period of January-October 2021, investment expenses were 2.71 billion lei higher than the same period of the previous year, and payments of exceptional nature generated by the COVID-19 pandemic were 11.36 billion lei.
The fund Cultura Face Bine, a national funding mechanism for cultural projects backed by private-sector financing, will begin supporting local cultural organizations in 2026. The fund aims to support grassroots cultural initiatives with a proven impact in their communities and which need resources to continue, develop, or transform their activities. The funding mechanism has been […]
The European Commission (EC) announced on Thursday, December 11, that it is referring Romania to the Court of Justice of the European Union (CJEU) for failing to meet obligations under Ambient Air Quality Directives. According to the Commission, Romania has not ensured that its national air quality monitoring network complies with legally required standards on […]
The Bucharest Court of Appeal (CAB) held an unprecedented press conference on Thursday, December 11, in response to allegations raised in a recent media investigation published by Recorder, with court president Liana Arsenie firmly rejecting the claims. However, at the start of the press event, a judge from within the institution publicly stated that the […]
Romania’s Superior Council of Magistracy (CSM) issued its first response to the Recorder documentary alleging systemic manipulation within the justice system, calling the investigation an amplification of a “campaign to destabilize judicial authority.” The council said on Thursday, December 11, that it will evaluate what measures need to be taken following the report. In a […]
MedLife, Romania’s largest private medical services network, announced on Wednesday, December 10, that it reached a market capitalization of EUR 1 billion on the Bucharest Stock Exchange (BVB). The milestone secures its position as “the most valuable healthcare company” in the country. The achievement came nine years after MedLife’s listing on BVB in December 2016, […]
The Buzău Land UNESCO Global Geopark in Romania has become a “living laboratory” this week as a team of American researchers arrived to study microorganisms capable of surviving in extreme environments. The scientists, part of the interdisciplinary research organisation The Two Frontiers Project, are examining methane seeps, sulfur and petroleum springs, saline sources, and other […]
