The budget deficit rose to 8.65% of GDP last year, from 5.61% of GDP in 2023, according to data published on Wednesday evening by the Ministry of Finance.In the ESA system, a higher budget deficit was recorded in 2009 - 9.5% and in the year of the pandemic 2020 - 9.2%."The execution of the general consolidated budget for 2024, according to operational data, ended with a deficit of 152.72 billion RON, respectively 8.65% of GDP compared to the deficit of 90.06 billion RON, respectively 5.61% of GDP, for 2023", announced the Ministry of Finance.Total revenues amounted to 574.60 billion RON in 2024, registering an advance of 10.4% (year/year), supported by current revenue receipts (+17.4%): mainly insurance contributions, VAT, excise duties, payroll and income tax, profit tax and non-tax revenues, which also include the effects of the tax amnesty established by Emergency Ordinance no. 107/2024.The consolidated general budget expenditures in the amount of 727.32 billion RON increased in nominal terms by 19.1% compared to the previous year. Expressed as a percentage of Gross Domestic Product, expenditures for 2024 registered an increase of 3.16 percentage points compared to 2023, from 38.06% of GDP to 41.22% of GDP.The budget for 2024 was initially built on a deficit of 5% of GDP.
The Romanian software company Life is Hard, listed on the Bucharest Stock Exchange under the ticker LIH, announced a strategic investment of EUR 250,000 in RepsMate, a deep-tech startup, on Friday, May 23. RepsMate specializes in conversational AI and the intelligent automation of company-customer interactions. The investment reinforces the growth in LIH’s ENGINE division, which […]
An autonomous, driverless bus was tested on Thursday, May 22, in Cluj-Napoca during the International Summit for Climate Neutrality, held under the slogan "Carbon OFF. Future ON,” to demonstrate the integration of modern technology into public transport. The bus performed a demonstration tour on a short route, starting from the Radisson hotel, crossing George Coșbuc […]
Romania’s national railway company CFR Călători announced on Thursday, May 22, that it will provide a daily direct connection from Bucharest to Varna starting June 13, and to Sofia and Istanbul/Halkali starting June 14. According to the cited source, the train will run on the new route from June 13 to October 13, 2025, and […]
Romanian filmmaker Bogdan Mureșanu will premiere his first animated short film, Magicianul/The Magician, at the prestigious Annecy International Animation Film Festival, taking place in France from June 8 to 14. The film, written, directed, and produced by Mureșanu, is the only Romanian title selected in the official competition, which features 35 productions...
US general Ben Hodges, the former head of the United States Army in Europe, said on Thursday, May 22, that if Russia attacks NATO, it will first bomb Romania’s port of Constanța and civilian targets. Hodges spoke in an interview about the possibility of reducing American troops in Europe, and implicitly in Romania. He added […]
Romania's national women’s handball team faces an uphill battle against Denmark, Japan, and Croatia in the group stage at the 2025 World Championship. The teams were selected on Thursday, May 22, at the Noordbrabants Museum in 's-Hertogenbosch, Netherlands. Romania was part of the second seeding pot at the draw for the groups of the 27th edition […]
