Marcel Bolos, the finance minister, mentions on Facebook the warnings made by the International Monetary Fund about reducing budget deficit and the additional measures to be adopted by Romania to fight evasion. “They appreciated out efforts to implement economic reforms and policies but pointed out that we need fiscal-budget sustainability, we should reduce budget deficit and take additional measures to fight evasion. In themeantime EU countries which 'donate' for us are watching us shrug,” Bolos wrote on Facebook, on Tuesday. On Monday, the finance minister met the IMF team present in Bucharest, headed by Jan Kees Martijn, the head of the mission for Romania. The latter reminded that the European Commission had also warned Romania recently about budget deficit, which in his opinion could reach “alarming levels”, unless measures are adopted. According to a press release of the Finance Ministry, fiscal policy, recent macroeconomic evolutions and structural reforms assumed by Romania through the National Plan of Recivery and Resilience are some of the topics analysed on Monday by the ministry official and the IMF team. “The annual inflation rate has continued its descending trajectory, reaching a single figure in July. Compared to similar economies in the area, we recorded a lower inflation level against Hungary, Poland and Czechia. The drop of the inflation rate in the first seven months of the year was triggered mainly by the dynamics of energy and fuel prices. As for the labour market, Romania shows resilience, the number of employees growing to historic levels, on behalf of private sector employees. The dynamic of the purchase power remains positive, in the context of a salary increase of the inflation rate. As for resources, services remained the main growth engine, with a contribution of 1.8% in the first semester, while the structure of economic growth in the first half of the year was more favorable to investments, compared to the same period of last year”, minister Bolos explained to the IMF delegation. The IMF team said it appreciated and encouraged engagement and efforts made by the Romanian government to implement responsible economic reforms and policies, to ensure a climate favorable to durable development. Also, it pointed out the need to identify and implement measures of fiscal consolidation, including the reduction of non essential expenses and improving income collection. Moreover, representatives of the international financial institution pointed out the importance of continuing structural reforms to stimulate economic growth and creating an evironment favorable to investments. The sides decided to have a new series of talks next week. In the meantime, IMF will meet National Bank representatives, pther government agencies, representatives of the private sector and non-governmental organizations. An IMF team, headed by Jan Kees Martijn will be in Bucharest over September 25 – October 4, 2023, for the annual analysis of Romanian economy, based on Article IV. Such consultations take place periodically with all IMF member states and are a mandatory supervision exercise for all member states.
Romanian deep-tech startup .lumen, the developer of what it says are the world’s first AI-powered glasses for the blind, has secured a new investment from EIT Urban Mobility, the European innovation community focused on advancing sustainable and inclusive urban mobility solutions. The value of the new funding round was not disclosed. The investment aligns with […]
The health spending per capita in Romania was the lowest in the EU, with spending less than half the EU average in 2023, the recently released report, State of Health in the EU - Romania Country Health Profile 2025, shows. At the same time, life expectancy in Romania is 5.1 years below the EU average, […]
Romania’s annual inflation rate stood at roughly 9.8% in November 2025, similar to October, according to data published by the National Institute of Statistics (INS). Food prices increased by 7.6% last month, while services rose roughly 11% and non-food goods climbed 10.7%. The consumer price index rose by 0.42% in November compared with October, while […]
Three French soldiers deployed in Romania as part of NATO’s Multinational Battle Group at Cincu intervened to save a truck driver following a serious traffic accident on the A3 Bucharest–Ploiești motorway, the Romanian Ministry of Defense said. The incident occurred earlier this week as the soldiers were traveling toward Ploiești and witnessed the truck crash...
Eight contemporary art galleries will present the works of the artists they represent at the third edition of the Smallest Art Fair in Town, an event dedicated to works on paper. This edition showcases works “investigating the state of wandering, disorientation, and rediscovery in the face of uncertainty.” Under the title In Dark Woods, A […]
Parents everywhere are asking an important question: What skills will truly prepare a child for a world defined by rapid change, global uncertainty, and the rise of artificial intelligence? For decades, schools focused entirely on academics. Today, research from neuroscience, performance psychology, and leading universities shows a different reality: The students who thrive long-term are […]
