In 2023, the current account of the payment balance recorded a deficit of 22.694 billion euros, 12.85% lower than the one of 26.040 billion euros in 2022, the National Bank of Romania informed on Tuesday. In its structure, the balance of goods recorded a deficit lower by 2.990 billion euros, the service balance recorded an excess higher by 204 million euros, the primary income balance had a deficit lower by 9 million euros, while the secondary income balance recorded an excess higher by 143 million euros. Over January-December 2023, the total foreign debt grew by 24.926 billion euros, to 168.812 billion euros. The long term foreign debt was 121.162 billion euros on December 31, 2023 (71.8% of total foreign debt), on the rise by 22.8% against December 31, 2022; the short term foreign debt on December 31, 2023 was 47.650 billion euros (28.2% of total foreign debt) on the rise by 5.3% compared to December 31, 2022. The long term foreign debt service was 17.4% over January- December 2023, compared to 17.9% in 2022. The coverage degree of imports of goods and serviceson December 31, 2023 was 5.6 months, compared to 4.4 months on December 31, 2022. The short term foreign debt coverage, calculated as residual value, with BNR foreign currency reserves on December 31, 2023 was 97.4%, compared to 82.4% on December 31,2022.
The Defense Ministry said early Wednesday, November 19, that its Air Force detected a drone entering national airspace overnight, prompting the scramble of German and Romanian fighter jets amid ongoing Russian attacks near Romania’s border with Ukraine. Two German Eurofighter Typhoon jets stationed at the Mihail Kogălniceanu Air Base took off at 00:25 on November […]
The government will radically amend the legislation on foreign labour and repeal the current law, said Ciprian Văcaru, state secretary at the Ministry of Labour, Family, Youth and Social Solidarity (MMFTSS), as reported by Economedia.ro...
The Romanian government is preparing an emergency ordinance to ban salary-pension cumulation in the public sector, according to the document consulted by Economedia.ro. The draft ordinance includes other measures to reduce spending in public administration, such as suspending secondments and transfers. The...
Although the Romanian ruling coalition announced a principle agreement over cutting by 10% the payroll of the central administration, no formal agreement has been drafted yet, and the technical specifications are not yet clear. In any case, it seems broadly agreed that the ministries and other central administrative units will be given flexibility in deciding […]
Romania’s BlueSpace Technology is preparing for the first public presentation of its VLAH (Hydramatic Autonomous Combat Vehicle) prototype, scheduled for the first half of December, according to a press release cited by Bursa.ro. The 4x4 armoured vehicle is the first...
The construction materials distribution company Sipex (BVB: SPX), traded at the Bucharest Stock Exchange, announced it will begin next year the construction of a dry mortars and thermal insulation materials factory in Ariceștii Rahtivani, Prahova County. The project will involve EUR 20 million of investment. The company said it has “all approvals for the submission […]
