The 2025 budget was presented to the International Monetary Fund mission, which had no recommendations to make to the Romanian side, Finance Minister Tanczos Barna said on Tuesday."We received no recommendation on no visit, from anyone. (...) My colleagues had a purely technical discussion where we made a presentation of the budget. Period," the finance minister said after the debates on the general directions in the 2025 state budget blueprint held in the joint budget & finance committees of Parliament.Asked about the danger of Romania ending up in the 'junk' category of non-investment grade countries, after two rating agencies downgraded its outlook to negative, Barna replied: "I am convinced that Romania will not end up in junk. It's a strong signal, and this signal was received by the government and the governing coalition, and that's exactly why the budget is built on a 7% deficit. That is precisely why we were at ECOFIN last week and we committed once again to observe that calendar for reaching 3% in 7 years. That is precisely why we had a meeting with the World Bank, we met with investors, in order to convey this firm commitment of Romania: no matter the government at rule, no matter who the prime minister or the finance minister is, for 7 years Romania will stick to this plan. It is priority No. 1 for anyone who comes to government that Romania returns to a 3% deficit, that it continues investments and that we do not revert to a 3% deficit on the account of slashing investments from the budget. This parallelism can be maintained. We have European funds that support investments and we have a very firm commitment. You've seen that Mr. Bolojan has already started downsizing the staff at the institutions he leads. Reform has begun at county councils too, and we need reforms to keep spending under control," added the finance minister.An International Monetary Fund mission is in Bucharest over February 3 - 7 to review the latest economic developments and update forecasts.Currently, Romania does not have a financing agreement with the International Monetary Fund, but the financial institution annually evaluates the Romanian economy, based on Article IV consultations.As far as the rating outlook is concerned, in December 2024, rating agency Fitch announced that it had worsened Romania's outlook from stable to negative, and in January this year S&P Global made a similar announcement.
The service center for the banking Societe Generale Group, the Societe Generale Global Solution Centre, announced the appointment of Laurent Mirjol as Chief Executive Officer, effective June 1, 2025. The new CEO will oversee the activities and develop the strategy of Societe Generale Global Solution Centre Romania. With over 20 years of experience in the […]
During a press conference held on Monday, July 14, Romanian president Nicușor Dan defended the recent tax hikes enacted by the government, underlining the need to reassure creditors and lower the country’s public debt. Nevertheless, he said that the VAT increase was decided by the government. In the presidential campaign, then-candidate Nicușor Dan promised to
The famous Pompidou Center in Paris will organize a retrospective of the complete works of Romanian director Radu Jude between September 23 and October 11. The retrospective brings together films made over twenty years by the prolific Romanian director. The event will open and close with two of the most recent films, namely “Kontinental 25” […]
Romanian president Nicușor Dan presented the expenses incurred in the electoral campaign and who the main donors were during a press conference on Monday, July 14. Over the first and second rounds of the presidential elections, Dan's campaign spent over RON 60 million (EUR 12 million), and the biggest individual donors were Măriuca and Florin...
Haleon, a global leader in consumer health, has appointed Wael Kaskas as General Manager for its Hungary, Romania, Czechia, and Slovakia cluster. With a strong background in FMCG, consumer healthcare, and supermarket retail, Kaskas brings extensive experience in managing billion-dollar portfolios and leading business transformations, the company said. Before this role, Kaskas was responsible for […]
Vadoo Fest returns on August 21–24 to the meadows of Vadu Oii, Buzău County, with a new edition that invites participants to slow down and reconnect. Now in its seventh year, the festival promises a special experience rooted in nature, music, and human connection. This year’s line-up blends depth and groove, featuring Grammy-winner Judith Hill, […]
