The general consolidated budget deficit climbed to 3.35 pct of GDP after the first eight months of this year, from 2.89 pct of GDP after seven months, yet the negative balance is decreasing compared to the same period last year.According to the budget execution published on Monday by the Ministry of Finance, after the first eight months of 2021 the deficit of the general consolidated budget amounted to 39.36 billion lei (3.35 pct of GDP), down from the deficit of 54.77 billion lei (5.19 pct of GDP), registered in the same period of 2020.After the first seven months of this year, the budget closed on a deficit of 33.97 billion lei (2.89 pct of GDP)."This positive evolution was determined by: the increase in budget revenues by 1.42 percentage points of GDP (YOY), mainly influenced by the advance of VAT receipts and European funds; the reduction of budgetary expenditures by 0.42 percentage points of GDP (YOY), as a result of the decrease in the share of expenditures on salaries in GDP. At the same time, in January-August 2021, the investment expenses were by 6.08 billion lei higher than in the same period of the previous year, and the exceptional payments generated by the COVID-19 epidemic amounted to 9.77 billion lei (15.85 billion lei, respectively 1.3 pct of GDP)," the Ministry of Finance said.
The office building of the former tire manufacturer Banloc-Goodrich in central Bucharest will be demolished for the construction of the Holocaust Museum, Profit.ro reported. The investment, valued at EUR 54.2 million, is partly covered by the EU-backed Recovery and Resilience...
One United Properties (BVB: ONE), Romania’s leading green developer of residential, mixed-use, and office real estate, recorded a turnover of 236.3 million euros in the first nine months of 2025, up 13% year-on-year (YoY), and a gross profit of 84.8 million euros, up 20% YoY, while the net profit stood at 70.3 million euros, up […]
Famed Romanian composer Horia Moculescu died on Wednesday, November 12, at the age of 88. The composer, pianist, and performer was born on March 18, 1937, in Râmnicu-Vâlcea. At the age of six, he learned to play the accordion. He attended secondary school in Turda at the Boys’ High School (now the “Mihai Viteazul” National […]
Romanians shift priorities: Health, Culture, and Hobbies take the lead, while Fashion and Home&Deco lose ground to low-cost non-EU commerce Black Friday 2025 marks a turning point for Romanian eCommerce. After two years of stagnation, the day recorded a +10% increase in the number of transactions, while the overall campaign week saw a +20% rise […]
The winter holidays are, for many of us, that rare time when everything slows down and joy becomes simple again: a beautifully decorated Christmas tree, a glass of fine wine, laughter mingling with the clinking of glasses, and breathtaking views all around. In the world of Ana Hotels, the magic of the season is celebrated […]
Kings’ Valley Medical & Spa Hotel is more than a luxurious retreat — it is a gateway to one of Bulgaria’s most enchanting regions. – The Rose Valley. Nestled in the heart of the country, just a few scenic hours from Bucharest, the hotel offers guests a rare blend of tranquility, wellness, and discovery....
