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.
JTI, one of the world’s largest manufacturers of tobacco and vaping products, established a technological hub in Romania, with about 140 employees currently and considering further expansion. The new center provides business technology solutions, data and analytics, software engineering, cyber security, and infrastructure & operations. The experts in Bucharest provide information technology support for all […]
Elena Lasconi, the president of the opposition party USR, said that she is working with her colleagues on drafting a no-confidence motion against the government headed by Social Democrat leader Marcel Ciolacu. She also urged the Liberals and their president, Nicolae Ciucă, to back USR's action. "I met thousands of soldiers, I have also been […]
American basketball player Marie Tyra Whitehead, aged 26, was found dead in the apartment where she lived, according to an announcement by Romanian basketball club CSM Târgoviște. Authorities stated that initial examinations revealed marks consistent with hanging on the athlete’s body, but the police are continuing their investigation to determine the exact circumstances of her […]
Romanian MEP Diana Șoșoacă was penalized for disrupting a session of the European Parliament in July of this year. She will be unable to participate in the Parliament's plenary session for seven days, during which time her daily allowance will be withheld, MEP Sigfried Mureșan announced. Back in July, the fiery far-right politician Diana Șoșoacă
Artificial intelligence (AI) technology is becoming increasingly popular in companies in Romania. According to a recent study by the consulting company VUCAMIX, 86% of companies in the local market have already adopted AI, in various forms. However, in 40% of cases, it was the personal initiative of the employees, not a company decision. The study […]
Bringo, the first brand to bring grocery delivery services to Romania, together with Carrefour Romania, announces a new and innovative feature: the collection of refundable packaging as part of the Deposit Return System - SGR for orders placed from Carrefour hypermarkets. This partnership promotes responsible shopping and continues the e-grocery advancements led by the two […]
