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.
If you’re searching for a hidden gem in Europe, Romania is calling your name. Tucked between the Carpathian Mountains and the Black Sea, this country is an untouched marvel, combining natural beauty, rich history, and endless opportunities for entrepreneurs and retirees alike. Romania offers a unique blend of modern life and ancient charm, making it […]
Let’s talk about the lack of connection with our body and how this is closely tied to burnout, plus, what to do about it. So often throughout the day, we live almost entirely in our minds. We’re focused either on what we have to do at the moment—tasks that increasingly demand mental effort over physical […]
Six men and one woman from Romania have been accused of recruiting dozens of children and adults from foster care centers, whom they then transported to Hungary, where they turned them into slaves, forcing them to work under inhumane conditions. The accused are from the localities of Ozun and Chilieni, Covasna County, Romania, and allegedly […]
The Museum of Collectivization, the first in Romania dedicated to the forced collectivization period of the communist era, is set to open a new wing, Corp B, funded through the EU-backed National Recovery and Resilience Plan (PNRR) and co-financed by the National Cultural Fund Administration (AFCN). With the new building, the museum located in Tămășeni, […]
Romania’s “Madrigal – Marin Constantin” National Chamber Choir, conducted by Anna Ungureanu, will be in Luxembourg and Belgium, as part of the “Bridges Across Europe/Punți peste Europa” European tour, where it will perform five extraordinary concerts. The performances will take place between November 20 and 25, with the help of the Ministry of Culture, the Romanian Embassy […]
The European Development Bank approved a EUR 140 million loan for Romania’s “Cultural Foundations” project, aimed at preserving historical monuments and constructing cultural buildings in the country. The project targets 14 investment objectives of national and European relevance, administered by public institutions under the Ministry of Culture, including the Romanian Athenaeum, the Romanian National Operas […]
