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.
NN, the leader of the life insurance and private pensions market in Romania, received the Top Employer 2025 certification for the seventh consecutive year. NN ranks second among top employers in Romania, up from fourth place last year as a result of its solid people-centric HR strategy, and NN Group ranks seventh in Europe based […]
Calvin Klein Inc. today announces its return to the official NYFW calendar to present Veronica Leoni’s debut Calvin Klein Collection for Fall/Winter 2025. It will be an intimate showing of both women’s and men’s looks and will take place at 12:00 PM on February 7, 2025. “Calvin Klein is thrilled to return to the global stage […]
Ten non-governmental organizations in Romania have issued a joint letter criticizing the executive for the emergency ordinance adopted on Thursday, January 16, which provides sanctions, including a turnover tax, for social media giants that fail to obey rules regarding electoral ads. Another government measure under fire from the opposition limits voting in the diaspora according […]
Dacia, part of the French Renault group, will launch several electric models to compete with Chinese brands for the affordable EV car market in Europe. The first electric model will be the next Sandero, which will appear sometime at the end of 2027, the brand's director, Denis Le Vot, said on Thursday, according to Reuters. […]
Happy 2025, dear Insiders, may it be a good year! And let it start with classics, some universal, some underground. Italian director Federico Fellini is one of the biggest names in the history of the medium. To say he was very influential is an understatement. He has his own adjective (Fellini-esque) while scenes from his […]
Romanian national airline Tarom announced the establishment of a new company, Tarom Tehnic, dedicated to providing maintenance and repair services for civilian aircraft, specializing in Boeing, Airbus, and ATR models. The new company is expected to generate revenues of up to EUR 10 million in its first year of operation, according to estimates from the […]
