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.
Approximately 18,000 new homes are expected to be completed in Bucharest and its surrounding areas in 2025, according to the "Romania Residential Market Genome" report by real estate consultant SVN Romania. This figure matches the low level seen in 2024, which marked the lowest number of residential deliveries in the past five years. Almost 17,000 […]
Ford Otosan announced on Friday, March 14, that it began delivering the first electric vehicles (EVs) manufactured in Romania. Series production of the fully electric models Puma Gen-E, E-Transit Courier, and E-Tourneo Courier has begun at the company's state-of-the-art facility...
Tiffin University Romania announces the launch of the Bachelor of Science in Cybersecurity & Information Assurance. The program is designed to equip students with the skills and knowledge necessary to succeed in a field with high potential. In addition, Tiffin University Romania has unveiled a new website, for an improved digital experience for current and […]
The Romanian Hydrogen and New Energy Technologies Hub, or Ro-HydroHub, a strategic project aimed at advancing hydrogen-based technologies, was officially launched on Thursday, March 13. The initiative, which is funded through the Smart Growth, Digitization, and Financial Instruments 2021-2027 Program (PoCIDIF), represents a nearly EUR 140 million investment and seeks to modernize Romania's energy sector […]
The town of Florești, near Cluj-Napoca, kicked off the construction of the "Historical Gallery of Transylvania" Museum Complex, the first museum built from scratch in Romania in the last 100 years. The investment amounts to RON 145.8 million (EUR 29.2 million). The museum, built on a surface of 15,583 square meters, is dedicated to all ethnic […]
US president Donald Trump told NATO secretary general Mark Rutte that he supported him in the race for the current position against former Romanian president Klaus Iohannis. However, Trump did not name Iohannis directly, despite him being Rutte's only competitor. During the recent discussions in the White House, Donald Trump emphasized that there was another candidate […]
