The government debt as of end-November 2021 was RON 557.886 billion, up from RON 552.385 billion in the previous month, shows data centralized by the Finance Ministry and processed according to the EU methodology.The government debt-to-GDP ratio was 48.7 percent at the end of November (48.2 percent of GDP at the end of October 2021).The medium- and long-term debt stood at RON 536.067 billion, while the short-term debt was RON 21.819 billion.Government securities account for the bulk of this amount - specifically RON 473.858 billion, while loans total RON 73.968 billion.RON 257.288 billion of the government debt was in local currency, as much as RON 254.764 billion is denominated in euros and RON 44.289 billion is the equivalent of debt in US dollars.At the end of November, the central public administration accounted for RON 541.823 billion of the public debt, of which RON 520.032 due in the medium and long term. The bulk of the central government debt is in euros (the equivalent of RON 250.794 billion) and in RON (245.198 billion).The local public administration accounts for RON 16.062 billion of the government debt, with RON 16.034 billion in the medium and long term.According to the Public Finance Ministry, the public administration's foreign debt was RON 283.947 billion (24.8 percent of GDP), of which the central public administration accounts for RON 279.292 billion and the local public administration for RON 4.654 billion.
President Nicușor Dan has nominated Senate president Ilie Bolojan, a leader of the National Liberal Party (PNL) and former interim president, for the prime minister seat. Dan said Bolojan is “the best person to carry out the needed adjustments in the state administration.” He pointed to Bolojan’s track record with reducing spending, and said he has […]
Balkanik Festival – Home of World Music, set to take place at Uranus Garden between September 5 and September 7, lines up this year artists who "celebrate that form of joy that does not ignore reality, but faces it with beauty, energy, and solidarity," the organizers said. The artists performing in September in Bucharest will […]
The mayor of Timișoara, Dominic Fritz, announced on Friday, June 20, that two new bridges over the Bega River will be built in the city. The bridges will be financed with EU-backed funds worth over RON 130 million. The bridges in question are the Solventul Bridge, which will connect Gării Street to Dâmbovița Boulevard and […]
A Sarmatian necropolis nearly 2,000 years old was discovered after archaeological excavations were carried out at the Mehala II site in the municipality of Timișoara, in western Romania. Researchers discovered 15 inhumation graves, most arranged in rectangular pits with rounded corners, although some no longer retain their original outline, having been disturbed by the passage […]
The George Enescu Philharmonic Orchestra will deliver on June 26 a concert marking Romania Day at the Osaka World Expo. Additionally, the Bucharest-based orchestra will present a series of other concerts and recitals, both within the Romanian Pavilion and outside, at Toyonara Hall in Osaka. The George Enescu Philharmonic Orchestra's concerts will be conducted by […]
Sphera Franchise Group, the largest food service group in Romania, has opened its first Cioccolatitaliani store in the seaside resort of Riccione, in Italy’s Rimini tourist area. This marks the official launch of Sphera Group’s development plan for the premium Italian brand of coffee, gelato, and pastry. Under the plan, it will open four locations […]
