The budget deficit rose to 4.57% of GDP after the first eight months of this year, from 4.02% of GDP at seven months, according to the data sent by the Ministry of Public Finance on Friday."Execution of the general consolidated budget in the first eight months of 2024 ended with a deficit of 80.87 billion RON, respectively 4.57% of GDP, compared to the deficit of 42.19 billion RON, respectively 2.63% of GDP related to the eight months of 2023," according to the quoted source.Total revenues amounted to 375.76 billion RON in the first eight months of 2024, registering an advance of 13.7% (y/y), supported by receipts from current revenues - mainly insurance contributions, VAT, payroll tax and income, profit tax and non-tax revenues.The sums reimbursed by the European Union on account of payments made and donations totaled 22.94 billion RON, down 18.3% (year/year).On the other hand, expenses of the general consolidated budget in the amount of 456.63 billion RON increased in nominal terms by 22.5% compared to the same period of the previous year. Expressed as a percentage of the Gross Domestic Product, expenditures for the first eight months of 2024 registered an increase of 2.6 percentage points compared to the same period of 2023, from 23.2% of GDP to 25.8% of GDP.Expenditures on projects financed from non-reimbursable external funds (including subsidies from the European Union related to agriculture) were 30.9 billion RON.In the budget rectification recently adopted by the Government, the deficit for the current year was revised upwards from 5% of GDP to 6.94% of GDP. The Fiscal Council estimates, however, that the cash deficit will approach 8% of GDP in 2024.
Rallies meant to show Romanians’ support for EU membership will take place on March 15 in Bucharest and several other cities. The rallies, held under the name Euromanifest, are not associated with any party or candidate. Instead, they are the result of a civic initiative organized by people who believe in democracy, freedom of expression, […]
IBM announced the opening of a new Innovation Lab in Bucharest in collaboration with Amazon Web Services (AWS). Located at the IBM Client Innovation Centre, the lab is set to serve clients from 22 countries, offering hands-on access to cutting-edge technologies, including agentic AI and generative AI solutions built using Amazon...
Hanul lui Manuc, Carul cu Bere, Curtea Berarilor, and Arcade Cafe, all very well-known restaurants located in Bucharest’s central and touristic Old Town, were temporarily closed by inspectors from the National Authority for Consumer Protection (ANPC). Inspectors found multiple violations, including improper food storage, unsanitary kitchen utensils, and frozen food with ice deposits. Fines totaling […]
Crin Antonescu, the candidate backed by the Romanian coalition made up of the Social Democrats (PSD), Liberals (PNL), and the Hungarians Alliance (UDMR), said he is “unwavering” after submitting his candidacy file for the presidential elections on Sunday, March 9. Antonescu promised he would unite and strengthen the nation in front of supporters and critics, […]
Romania’s National Meteorological Administration (ANM) announced that a mass of air containing Saharan dust will reach Romania starting on Tuesday morning, March 11. Between March 9 and 13, the southwesterly air circulation will favor the advance of an air mass loaded with dust particles of Saharan origin from North Africa towards southeastern Europe and over […]
Romanian mountaineer and guide Teofil Vlad has successfully climbed the highest peaks on all seven continents, completing the prestigious Seven Summits challenge. His final ascent took place on March 7, when he reached the summit of Carstensz Pyramid in West Papua, Indonesia, marking the completion of a journey that began more than 20 years ago,
