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.
Romania, which for years ranked last in the EU for packaging waste recycling, now stands at the forefront of Europe’s circular economy, proving that a country with initially fragile infrastructure can implement, in record time, one of the most effective collection and recycling systems in Europe. This rapid transformation is taking place in a European […]
Tucked inside Radisson Blu Hotel, Bucharest, Ginger Sushi Bar & Lounge marks the turn of the year with an intimate New Year’s Eve dining experience built around a multi-course tasting menu. From 19:00 onwards, guests are welcomed to a carefully paced evening that blends Japanese inspiration with premium ingredients, from scallops and Wagyu to Chilean […]
Romanian non-profit Dăruiește Viață has completed a new renovation project at the “Louis Țurcanu” Emergency Children’s Hospital in Timișoara, upgrading the Pediatric Onco-Hematology Transplant Unit to modern medical standards. The investment, worth approximately EUR 150,000, was funded by Linde Gaz Romania and Atos Global Delivery Center. The organisation has been working with the Timișoara hospital […]
The multimedia exhibition Aici Se Vede Jazz (Here You Can See Jazz), set to open at SAC Berthelot in Bucharest, explores how jazz found its way in the pre-1990 Bucharest and “the contemporary ways to listen, visualize, perform and relate artistically to its world of sounds and ideas.” Bucharest had improvised studios, rehearsals with the […]
Aon Romania, part of the global group Aon plc, draws attention to the urgent need for structured solutions to protect trade receivables in an economic context characterized by high volatility and geopolitical uncertainty. The subject was central to the discussions at TRADE CREDIT TALKS - Receivable Protection in the Age of Volatility, where business leaders […]
Bucharest’s shopping centres posted mixed financial results in 2024, with major discrepancies between the city’s largest malls and mid-sized retail centres, according to financial analysis platform RisCo.ro. The data shows contrasts in profitability and turnover, as well as significant losses among some of the capital’s biggest retail projects. AFI Cotroceni recorded the highest turnover of […]
