Romania may register this year a 3% economic growth, but we risk reching a budget deficit of 7% if we are not attentive, said Daniel Daianu, the president of the Fiscal Council on Thursday, when he participated in a conference referring to Romania's macroeconomic prospects. “I think this year we have chances for a GDP dynamic around 3%. Since we have pension increases, the indexation and the impact of pension reforms, we have salary increases in education for teachers, and other things. All these feed economic activity, demand and in a way eplain why we, from the Fiscal Council consider it is not possible to be with a deficit under 6% this year. We could use, as we did last year, a sui generis adjustment, that is to cut capital expenses. Last year they were reduced by 0.9% of GDP drastically in order to curb the deficit. The cash deficit. We will have a very difficult budget execution and we risk leaning toward a 7% budget deficit if we are not attentive, Daianu said at the conference “Romania's macroeconomic and fiscal prospects for 2024,” organized by News.ro. He mentioned that the risk was also present last year. He also declared the this year the European Commission would probably open imbalance procedures through the view of public debt and budget deficit of more than 15 EU member countries.
June is the richest month. The most awaited two weeks in my annual festival pilgrimage. The route starts with Romania’s Transilvania International Film Festival (TIFF), followed by Italy’s (and the world’s) most comprehensive festival for restored and archival film: Il Cinema Ritrovato. To shake up the traditional article on the two, I’ll start with the […]
Different Beauty, a recently opened exhibition of works by Czech photographer David Těšínský, offers a glimpse into everyday life in the war-torn region of Donbas in 2017. The photos were taken within the span of only a few days, as Těšínský traveled to eastern Ukraine to document the lives of women impacted by war. In […]
Different Beauty, a recently opened exhibition of works by Czech photographer David Těšínský, offers a glimpse into everyday life in the war-torn region of Donbas in 2017. The photos were taken within the span of only a few days, as Těšínský traveled to eastern Ukraine to document the lives of women impacted by war. In […]
Roughly 70% of Romanians are “very” or “moderately” concerned about how AI accesses and uses their data, according to the latest survey conducted by RoCoach in partnership with Novel Research between May and June 2025. Distrust in automated decision-making and the demand for regulation are becoming more pronounced, as Romania rolls out major digitalization projects […]
The Armenian Street Festival returns for a 9th edition between August 1 and 3, 2025, in the “Dimitrie Brândză” Botanical Garden in Bucharest. The festival brings into focus the living heritage of the Armenian community in Romania and the diaspora. According to the organizers, this year’s edition aims to strengthen the Bucharest–Chișinău–Yerevan cultural axis, articulated […]
The Romanian mergers and acquisitions market registered a total of 122 announced transactions in the first half of 2025, with a value exceeding EUR 2.7 billion, marking a slight increase of 6% in volume and 4% in value compared to the same period last year, according to an analysis by George Ureche, partner at PwC Romania. […]
