The financial assets of the public administration sector decreased by 0,4 percentage points in the first quarter of 2021, reaching 24.4% of GDP, according to data centralized by the National Bank of Romania (BNR).The public administration's deposits and cash decreased by 0.6 percentage points in the second quarter of this year, compared to the same period in 2020, and accounted for 4.3% of GDP. Stock holdings and other state participations decreased by 0.2 percentage points, reaching 10.3% of GDP, and the position of other accounts receivable (taxes, duties, social contributions, trade receivables, amounts owed by economic agents to public authorities and external receivables) increased by 0.3 percentage points, reaching 7% of GDP.The financial commitments of the public administration recorded an increase of 5.4 percentage points at the end of Q2 2021, in comparison to the same quarter of the prior year, representing 55.6% of the Gross Domestic Product"This increase is largely explained by the evolution of issues of titles depending on nature of debt, launched both to finance the budget deficit, as well as to re-finance the public debt. Thus, on April 7, current year, the Finance Ministry launched a euro-bond issue on the international capital market, with a total value of 3.5 billion euro. In Q2 of 2021, this debt instrument represented 40.6 pct of the GDP, by 4.2 percentage points more than in the same period of the previous year. The balance of committed appropriations increased by 1.3 percentage points in the analyzed period, reaching 6.5% of GDP, and the items in the category of other amounts payable diminished by 0.1 percentage points, down to 7.8% from GDP," mentions the BNR.
Rock star Marilyn Manson will return to Romania next summer to perform at Rockstadt Extreme Fest, organizers announced on Tuesday, December 2. He is among the headliners confirmed for the local rock and metal festival, which will take place from July 27 to 31 in Ghimbav, Brașov county. “For the first time ever, Marilyn Manson […]
Romania’s government has assumed responsibility in Parliament for legislation reforming magistrates’ pensions, prime minister Ilie Bolojan announced on December 2. He said the draft law had received the opinion of the High Court of Cassation and Justice, noting that the court’s assessment was negative. It is the government’s second attempt to have the bill promulgated, […]
Romania Education Alliance (REA), the first private school network in the country, announced it has exceeded the milestone of 1,000 students enrolled across its member schools just one year after launch. "The fact that we surpassed 1,000 students in our very first year of activity shows that the REA model addresses a real need in […]
Genesis College, one of the largest private educational institutions in Romania, announced the regulatory approval of the transaction through which the investment firm Mozaik Investments becomes its majority shareholder. The transaction, signed at the end of July, received all necessary approvals from the Competition Council on November 25, and, formally, the entire investment procedure is […]
The European Bank for Reconstruction and Development (EBRD) is lending up to EUR 29.9 million to the Romanian city of Brasov to finance energy efficiency upgrades in public buildings, initiating the city’s participation in the Bank’s flagship EBRD Green Cities programme. The Bank’s investment will fund the renovation of up to 20 public buildings, including […]
This festive season, JW Marriott Bucharest Grand Hotel invites guests to embrace the extraordinary and transform each moment into a lasting memory. On New Year’s Eve, the hotel unveils The Grand Countdown — a luminous celebration of new beginnings, thoughtfully crafted across four distinctive venues, each with its own character and atmosphere. The night begins […]
