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.
“Catane,” a dark comedy inspired by real events and directed by Ioana Mischie, is set to have its first special screenings in Romania after a successful festival circuit. The film had its world premiere at the IFFI Goa festival in India and was nominated this year at the Hollywood Music in Media Awards for Best […]
Romania is among the European countries where water reserves are decreasing at an alarming rate, according to an analysis carried out by researchers from University College London in collaboration with The Guardian and Watershed Investigations. Scientists analyzed data from the period 2002–2024 provided by satellites that monitor changes in the Earth's...
George Smyth, 18, went missing on a hike near Romania’s famous Bran Castle more than a week ago. On November 23, the British citizen started to suffer from hypothermia and exhaustion and called the emergency services. Trying to locate him, mountain rescue services conducted searches over the next few days but were only able to […]
Over 107,000 people in Prahova and Dâmbovița counties, in southern Romania, have been without drinking water since Friday, November 28, due to problems at the Paltinu Dam. According to local authorities, the problems are set to persist until next week. The dam registered a drop in water levels, leading to problems in the water distribution system. […]
A special ‘Silent Day’ event will be held at the Bucharest Christmas Market in Constituției Square on Wednesday, December 3, aimed at creating a quieter and more accessible environment for children with sensory disabilities. The initiative is designed to make the festive market manageable for children who may struggle with loud noise, bright lights, and […]
Romanians have the highest level of trust in others in the European Union, according to the most recent Eurostat data for the year 2024, ahead of the usual leader of the ranking, Finland. The indicator ‘trust in others’ measures a person’s trust in people they do not know on a scale from 0 (‘I...
