The budget deficit for 2024 is likely to significantly exceed the 2023 deficit, with major risks to the budgetary consolidation process, warns the Fiscal Council in a preliminary opinion on the draft laws on the state budget and the state social security budget and on the Fiscal Budget Strategy for 2024-2026.The Fiscal Council received a first set of documents on the three draft laws from the Ministry of Finance on 9 December, with a new set of drafts to be sent to the institution in the afternoon of 13 December. Under these circumstances, the Fiscal Council states that it was unable to review the extended opinion, so it decided to issue a preliminary opinion."The budget deficit in 2023, according to the documents submitted by the Ministry of Finance, is 5.9% of GDP in the cash methodology and 6.0% of GDP in the European/ESA methodology," the preliminary opinion of the FC reads.The state budget for next year is based on an economic growth of 3.4% and a budget deficit of 5% of GDP.
Romanian tissue and sanitary paper products producer Elfi announced investments of EUR 10 million in 2025 to expand production capacity. The project involves the construction of a new production hall and the installation of a state-of-the-art production line, which will allow the company to operate three production lines and double its current capacity. In 2024, […]
With the investment fund Accession Capital Partners and the private equity fund Invenio Partners as majority shareholders since the end of 2024, the Romanian coffee chop chain 5 to go targets the Southeastern European market, according to Profit.ro and
Romanian lithium-ion battery manufacturer Prime Batteries Technology, founded and controlled by Romanian entrepreneur Adrian Polec, has entered into a collaboration with Arrow Electronics and NXP Semiconductors to launch a next-generation battery energy storage system - BESS platform, according to
Romania’s headline inflation remained steady at just under 4.9% y/y in April, in line with consensus expectations, as the average prices increased by a mere 0.07% in the month, according to the data published by the statistics office INS on May 13. Core inflation remained at 5.3% y/y as well. The National Bank of Romania […]
Moldovan president Maia Sandu voiced her support on Tuesday evening, May 13, for Nicușor Dan, the independent candidate in Romania’s presidential election, and urged Moldovans with Romanian citizenship to vote on Sunday to protect Romania’s European and democratic progress. In a video shared on social media, Sandu praised Dan’s “decency, resilience, and respect for the […]
Two Romanians were arrested during Sunday night, May 11, after robbing empty houses in the evacuated mountain village of Brienz located in the Swiss canton of Graubünden. The village had been evacuated since November due to rock falls. The locality was, however, monitored by the authorities to prevent break-ins. The would-be thieves apparently tried to […]
