Romania needs, in order to ensure a 7% deficit, a financing demand of about 231 billion RON, an amount that will be provided both from foreign markets and internal ones, the Minister of Finance, Tanczos Barna said on Monday."The financing demand to ensure a deficit of 7%, under conditions in which revenues increase with economic growth and with better collection, is somewhere around 230-231 billion RON, an amount that will be provided both from foreign markets as well as from domestic markets," Tanczos Barna told Digi 24.He also spoke about Tezaur and Fidelis state bonds, emphasizing that they are a good saving solution for all citizens."I recommend all Romanians to take an interest in it, because it represents a safe investment, with a higher interest rate than usual interest rates, an untaxed interest rate. And the Romanian state is interested in these interests not going to other companies, not going outside the country, but to end up in the pockets of Romanians", the minister of finance said.On the other hand, he stated that this year he expects a reduction of at least 5% in expenses at the level of the main credit authorities."I am convinced that every manager, each main credit authority and every minister has enough leverage to reduce personnel costs by at least 5% in 2025, as a whole. There will certainly be situations in an institution where reductions by 20% will be made, in other institutions by 3-4%, but overall I am convinced that all ministries can reduce personnel expenses by at least 5%, if for nothing else, from natural departures and non-hiring of personnel, in this way relieving the personnel budget," Tanczos Barna said. (Photo: https://www.facebook.com/)
Romanians are preparing to spend more this Christmas compared with last year, according to a new Raiffeisen Bank study conducted in partnership with research platform Appinio. The survey showed that 65% of respondents expect higher holiday expenses in 2025, while 26% anticipate spending similar amounts to 2024. Half of those surveyed allocate between 25% and […]
Romania’s Electric Castle was named ‘International Festival of the Year’ at the 20th edition of the UK Festival Awards. The Romanian event triumphed over major international contenders, including Afro Nation (Portugal), Beyond The Valley (Australia), Open’er Festival (Poland), Sziget Festival (Hungary), and Way Out West (Sweden),
President Nicuşor Dan, on December 4, returned to Parliament amendments tightening Romania’s law against extremism, arguing that several provisions are vague and risk enabling abuses, according to a statement released by the Presidency. The Constitutional Court had previously upheld the amendments after the Presidency challenged them, prompting criticism from organisations within the Jewish community. By […]
Fitch Ratings on December 4 affirmed the long-term Issuer Default Rating (IDR) for Romania's largest lender, Banca Transilvania (BVB: TlV), at BBB- with a negative outlook, in line with the country's sovereign rating. The price of the bank's shares rose 1.2% on the day the rating agency announced its decision, bringing the bank's market capitalisation […]
The Romanian authorities will only supervise the operations at Lukoil’s Petrotel refinery and not be involved in its management until a new owner is found, according to an emergency ordinance approved by the government in Bucharest this week, as reported by Hotnews.ro. Russian group Lukoil is seeking buyers for its...
The ‘5 to go’ coffee shop chain announced the signing of a partnership with the national gas station network RO concept OSCAR, owned by businessman Alin Niculae, according to Economica.net. The gas station network has reached 120 strategically distributed stations nationwide, of which more than 90 are franchised under the RO concept...
