The European Commission approved on Thursday, according to EU norms about state aid, the reintroduction of Romania's short term export credit, with a budget of 7.2 million euros, according to a press released of the European Executive. The Romanian state can cover risks supported by small companies with a small business figure made from exports and risk of single export transactions. Initially, the plan was approved in August 2014, extended in February 2017 and made to expire in December 2021. In February 2022, Romania notified the intention to reintroduce the plan, which would last until December 31, 2026. The maximum annual business figure for export for small companies to be eligible was established at 2.5 million euros (on the rise by 0.5 million euros compared to the initial plan). The commission evaluated the plan according to EU norms about state aid, especially the 2021 Communication about short term export credit. The EU Executive decided that the measure is necessary because there are no insurance products to cover the risk of non payment by foreign buyers for small companies with small business figures from export, or private insurers to cover export transactions. The Commission concluded that the plan is proportional, as it made sure that Romania will cover only transactions for which private covering is not available in the market and make sure that private insurers are not excluded, in case they want to cover such risks. In December, EC adopted a reviewed Communication about insuring short term export credits which establishes norms to make sure that the support granted by the state for export credits do not affect competition between private and public export credit insurers and set up competition conditions between exporters from various member states. Export credits allow foreign buyers of goods and services to delay payment. This delay involves a credit risk for sellers, which in their turn get insurance for this risk. The reviewed communication about short term export credits came into force on January 1,2022, without expiry term.
Participation in cultural education activities continues to be limited, with the main barriers being difficult access, insufficient knowledge, and cost, the recently released Cultural Consumption Barometer 2024 shows. The report showed that many Romanians still associate culture with entertainment rather than with personal development or furthering their knowledge. The need for relaxation dominates in cultural […]
Roughly 84% of Romanians say that the pace of the state’s digitalization is slow or very slow, according to an Edge Institute & AtlasIntel study presented at the Digital Governance Summit 2025, which took place on Tuesday, November 25, at the presidential palace in Bucharest. The survey aims to capture the way citizens relate to […]
Romania’s Superior Council of Magistracy (CSM) issued a negative opinion on the new bill regarding magistrates’ pensions. The move is only the latest development concerning a heated issue that led to tensions between the executive and the judiciary branch. CSM’s opinion is consultative, and the government led by Ilie Bolojan can still take responsibility for […]
Romania took the presidency of the Central European Initiative (or CEI) on Wednesday, November 26, according to a press release from the Ministry of Foreign Affairs (MAE). The organization is a regional intergovernmental forum established in 1989, following the fall of the Berlin Wall. It gathers 17 Member States in Central, Eastern, and South-Eastern Europe […]
Trade between Romania and Poland continues to grow, with annual bilateral exchanges in goods now valued at more than EUR 12 billion, according to figures presented by the Polish-Romanian Bilateral Chamber of Commerce and Industry (PRBCC). The data was released during a reception in Bucharest marking Poland’s Independence Day and Romania’s National Day. Polish investments […]
As Romania moves closer to implementing the EU Pay Transparency Directive, local employers are preparing for one of the most consequential shifts in workplace regulation in over a decade. The directive, set for transposition by June 2026, introduces strict new rules on salary disclosure, pay reporting, and equal-pay verification, aiming to close persistent gender gaps […]
