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 Association of Romania's Wood Industry (AIL) accuses Greenpeace and Agent Green of attacking the entire wood processing industry with no grounds, furthermore misleadingly using specific terms to magnify the impact of its rhetoric in the international media. The two NGOs cultivate confusion between the term "old forests" (a legally undefined term) and the term […]
After a 13-hour debate on April 22/23, the two parties of Romania’s ruling coalition abandoned their preliminary joint candidate for the key local elections in Bucharest, Catalin Cirstoiu, skipped joint plan B and plan C announced by the Liberals (PNL) at the end of last week, and decided to appoint individual candidates for the Bucharest […]
Eurowind Energy, a Danish developer and operator of wind, solar, and hybrid projects, contracted a EUR 65.33 million loan sourced in equal parts by Erste Group Bank and its Romanian subsidiary BCR for the construction of the Pecineaga wind farm, with a total capacity of 48 MW. Pecineaga wind farm involves a total investment volume […]
CTP, the largest owner of warehouses in the country, plans to end the year with a portfolio of 3.1 million sqm after the takeover of part of Globalworth's portfolio and projects of about 240,000 to be developed. The company's portfolio was 2.6 million sqm before the EUR 170 million takeover. "We are planning this year, […]
Julius Meinl Living announced the completion of the acquisition of the Ambassador hotel in downtown Bucharest, with an area of 12,600 sqm. The hotel is to be opened under the name "The Julius Bucharest" in 2027 after an extensive renovation process that will result in 158 luxury rooms and apartments, according to a company press […]
Romania's courier company Sameday, the operator of the easybox locker network part of the eMAG group, announced it is taking over the Hungarian courier firm Sprinter to strengthen the network of out-of-home delivery points. "The deal brings together Sprinter's decades of solid local market knowledge and service culture with Sameday, a dynamic and constantly growing […]
