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.
On October 30, 2025, Envisia will host the 3rd edition of the Future of Boards Gala. The event brings together board members, executives, and governance ecosystem partners for an evening dedicated to recognizing responsible leadership, corporate governance, and high-performing boards. The six award categories celebrate individuals and boards who, through courageous decisions and integrity, create […]
The European real estate debt market is showing clear signs of recovery, supported by stabilized interest rates, competitive lending, and renewed investor confidence. According to AEW’s latest research, the credit financing gap across Europe is narrowing, with improved lending conditions helping to ease refinancing pressures that have weighed on the sector in recent years. Between […]
French retail chain Carrefour may want to sell its stores in Romania and exit the market, according to the French publication L’Informe. Moreover, it would also like to get rid of its operations in Poland and Argentina, according to the same source. So far, Carrefour has reportedly only analyzed a possible exit from the local […]
Romanians are not looking forward to Black Friday with more enthusiasm than last year, according to a recent survey. The main reasons are economic instability and the decline in purchasing power. Around 22% of Romanians say they will not buy anything on Black Friday 2025, and only 15% of Romanians plan to spend more compared […]
Cristina Ghițulică, a faculty member at the Faculty of Chemical Engineering and Biotechnologies (Politehnica Bucharest), was elected as the first woman president of the European Association for Quality Assurance in Higher Education, or ENQA. Ghițulică is the director general of the Romanian Agency for Quality Assurance in Higher Education. She was elected to head ENQA […]
The Bucharest National Opera and the Kinetobebe Association announced “The Dance of Velvet Steps,” a premiere performance for the audience with special needs, on Sunday, November 16. The show consists of a ballet performance adapted and made accessible for children and adults with disabilities. The performance is primarily addressed to children and adults with special […]
