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.
Romanian president Nicușor Dan was received by King Charles III at Buckingham Palace on Wednesday, December 17, during his official visit to the United Kingdom, marking the final stage of his trip to London. The head of state also met with Romanians who welcomed him during the visit. President Dan posted a brief message alongside […]
Holidays are simply better when you share the traditional taste of Boromir Cozonac with your loved ones. Our Collection of Cozonac brings joy and warmth to festive gatherings, carrying on the sweet traditions of the winter season. With its soft core, rich fillings, and authentic flavor that comes from natural sourdough, the Boromir Cozonac is […]
As parents everywhere wrestle with the same uneasy question, how do you prepare children for a future shaped by rapid technological change and constant uncertainty, Verita International School is betting on a clear answer: teach students how to think, not what to think. In this interview with Romania Insider, Ashley “Ash” Peek, Head of Secondary […]
Romanian prime minister Ilie Bolojan stated during an interview on Wednesday, December 17, that there should be no statute of limitations in cases of serious corruption. The statement comes after a Recorder investigation, which showed that several heads of the major institutions in the Romanian justice system allegedly delayed trials for years until wrongdoings were […]
President Nicușor Dan has challenged, before the Constitutional Court (CCR), the constitutionality of the law that requires that at least 40% of the athletes who play on a team in official national competitions be Romanian. Dan noted that the law violates the principle of non-discrimination and the free movement of workers, enshrined both in the […]
Craiova International Airport will open its new passenger terminal on Thursday, December 18, completing a major infrastructure investment aimed at significantly expanding capacity and improving air connectivity in southwestern Romania. It is part of a broader expansion and modernization project financed through the Large Infrastructure Operational Programme (POIM) 2014–2020, with a total value exceeding EUR […]
