The government deficit adjusted seasonally in the European Union and the euro zone dropped in Q3 of last year down to 2.8% of GDP from a level of 3% of GDP in Q3 and the largest reduction was recorded in Romania, according to the data published by Eurostat on Monday. According to these data, which are provisional, Romania's government deficit was 4.2% of GDP in the third quarter, down significantly from 7.6% of GDP in the second quarter. However, when it comes to government debt, Romania is one of the member countries with the highest increase in the debt-to-GDP ratio in the third quarter of 2023 compared to the second quarter. Only nine of the 27 EU Member States recorded an increase in their debt-to-GDP ratio over the period, with the largest increases in Belgium (2.1 percentage points), Latvia (1.9 percentage points), Slovenia (1 percentage point) and Romania (0.8 percentage points). In the case of Romania, provisional Eurostat figures show that government debt increased from 48.2% of GDP in the second quarter to 48.9% of GDP in the third quarter. Annually, the third quarter of 2023 by comparison to the third quarter of 2022, eight member states recorded an increase of the debt-to-GDP ratio. In this case Romania is among the countries with the highest increase of the debt (plus a percentage point) together with Belgium (2.5 percentage points), Estonia (2.3 percentage points), Finland (two percentage points), Latvia (1.3 percentage points), Slovakia and Luxembourg (both with an advance of one percentage point). In the case of Romania, the Eurostat data show that the government debt increased from 47.9% of GDP in Q3 2022 to 48.9% of GDP in Q3 2023.The most indebted EU Member States are Greece (165.5% of GDP), Italy (140.6% of GDP), France (111.9% of GDP), Spain (109.8% of GDP), Belgium (108% of GDP) and Portugal (107.5% of GDP), while the lowest debt-to-GDP ratios are in Estonia (18.2%), Bulgaria (21%), Luxembourg (25.7%), Sweden (29.7%) and Denmark (30.1%).
Ireland can be seen as one of the most important business hubs in Europe and the European Union, as many international companies have established regional headquarters there. If you are looking for a country to expand your enterprise, you should definitely consider Ireland for several reasons that are presented below. Location and language The first […]
Cyprus is mostly known as a tourist destination. However, there is also a business side to it, as many investors choose it to open companies because of the favorable taxation system. Apart from its low corporate tax rate, there are a few more reasons why you should choose it if you are looking for a […]
The Romanian Commercial Code provides for various types of entities that can be created by natural persons and companies, local or foreign. Each of them has its own particularities, which can give it various advantages. How do you choose among them? We will review the main types of companies and their pros to help you […]
A new alley named after Romanian diplomat Nicolae Titulescu was inaugurated on Tuesday, December 9, in Paris’s Parc Monceau during a ceremony attended by Romania’s president Nicușor Dan and Paris mayor Anne Hidalgo. “I expressed my appreciation for the decision to name an alley in the beautiful Parc Monceau in Paris after the great Romanian […]
Oxygen Resort, a development located in central Romania’s Harghita county, has inaugurated its first bungalows. The first 18 bungalows are already functional, with another 17 units to be completed in the next stage, bringing the total to 35. The inauguration of the bungalows “marks the transition from a center dedicated predominantly to recreational activities to […]
Romania carried out a new medical evacuation mission for civilians from Gaza on Monday, December 8, transporting eight Palestinian patients and 29 accompanying relatives to Bucharest for treatment, according to the Department for Emergency Situations (DSU). The patients were evacuated aboard a Romanian Air Force C-130 Hercules aircraft after lacking access to adequate medical care. […]
