The government adopted on Friday this year's second budget rectification, maintaining the deficit target of 7.13 pct of GDP, announced the Minister of Finance, Adrian Caciu."The rectification of the state budget has been adopted, we maintained the deficit target of 7.13 pct of GDP. We provided the necessary resources for this year, until December 31, and we managed to find a solution to unblock the critical situation at CEC Bank," said the minister.He recalled that CEC Bank has been looking for the solution for two years so that, after the share capital increase in 2019, it could comply with the rule requested by the European Commission to be able to have the necessary exposure and guarantees to enter the lending market."As a result, we have established that we will grant a loan of 1.4 billion lei to CEC Bank for several purposes. Firstly, the Romanian state will immediately receive 900 million lei in dividends. Secondly, this banking company and the other banks will support us in implementing the government program because it contains not only money from the state budget, but also European funds and we need co-financing, so that the beneficiaries of European funds have a place from where to get loans that are targeted at the implementation of the public policy programs that the Government will adopt in the next period. As far as I am concerned, this was a key moment. From this moment on, from the point of view of CEC Bank, we no longer have a risk on the banking system," the government official maintained.According to Caciu, having to reallocate money for pensions and salaries from other budgets at the end of the year has been a structural mistake, one that will not happen again the following year."Today's rectification shows us some structural shortcomings in the way the budget projections are made in Romania, because we end up in the last month of the year having to allocate additional amounts for pensions and salaries, but the saddest thing is that we have to take money from European-funded projects, from investments, not because you have to take money from somewhere, but because those investments only existed on paper in a budget. This is a lesson I am quickly learning myself, and so is the Government and which we must not repeat in 2022," the minister gave assurances.According to a press release of the Ministry of Finance, the deficit of the general consolidated budget, in absolute amount, calculated according to the national methodology (cash), increases to 84.905 billion lei, while standing at 7.13 pct of GDP.
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 […]
