The government debt as of end-October 2022 stood at 651.508 billion RON, up from 646.073 billion RON in September and 577.521 billion RON at the end of 2021, shows data published by the Finance Ministry.The government debt-to-GDP ratio rose to 48 percent from 47.6 percent at the end of September.In October, the medium- and long-term debt amounted to 623.967 billion RON, while the short-term debt was 27.54 billion RON.Government securities account for the bulk of this amount - specifically 535.01 billion RON, while US dollar-denominated loans amounted to the equivalent of 103.29 billion RON.The debt in euros amounted to the equivalent of 301.069 billion RON, that in national currency was 288.986 billion RON, and the debt in US dollars amounted to the equivalent of 60.219 billion RON.At the end of October, the central public administration accounted for RON 634.012 billion of the public debt, of which RON 606.494 billion due in the medium and long term. The bulk of the central government debt is in euros (the equivalent of RON 296.8 billion) and in RON (275.762 billion).The local public administration accounts for RON 17.496 billion of the government debt, with RON 17.473 billion in the medium and long term.At the end of October, the internal debt of the public administration amounted to RON 321.837 billion (23.7 percent of GDP), of which RON 309.236 billion was the debt of the central administration and RON 12.601 billion was the debt of the local administration.According to the Public Finance Ministry, the public administration's foreign debt was RON 329.67 billion (24.3 percent of GDP), of which the central public administration accounts for RON 329.67 billion and the local public administration for RON 4.895 billion.
Romanian prime minister Ilie Bolojan stated during an interview on Wednesday, December 17, that there should be no statute of limitations in cases of serious corruption. The statement comes after a Recorder investigation, which showed that several heads of the major institutions in the Romanian justice system allegedly delayed trials for years until wrongdoings were […]
President Nicușor Dan has challenged, before the Constitutional Court (CCR), the constitutionality of the law that requires that at least 40% of the athletes who play on a team in official national competitions be Romanian. Dan noted that the law violates the principle of non-discrimination and the free movement of workers, enshrined both in the […]
Craiova International Airport will open its new passenger terminal on Thursday, December 18, completing a major infrastructure investment aimed at significantly expanding capacity and improving air connectivity in southwestern Romania. It is part of a broader expansion and modernization project financed through the Large Infrastructure Operational Programme (POIM) 2014–2020, with a total value exceeding EUR […]
Romania is set to be connected to the Western European energy network thanks to grid investments worth EUR 30 billion. The funds will be provided by the EU by 2035, and the project will link Romania to Hungary and Austria in a joint project. Romanian energy minister Bogdan Ivan signaled the signing of the new […]
Franck Bagouet has been appointed managing director of TotalEnergies Marketing Romania SA and managing director of Automotive Southeast Europe Hub TotalEnergies Marketing. He succeeds Didier Grimault, who has accepted a new position within the TotalEnergies company. “I am glad to join this dynamic affiliate and confident that, together with our talented team, we will reinforce […]
Databricks, the data analytics and artificial intelligence company co-founded by Romanian professors Ion Stoica and Matei Zaharia, announced on Tuesday, December 16, that it is raising USD 4 billion in funding at a valuation of USD 134 billion, according to CNBC. The new valuation represents a 34% increase compared to the August round, when Databricks […]
