The gross government debt according to the EU methodology will be maintained, in the period 2024 - 2027, at a level that will not exceed 52.5% of the GDP, according to the Report on the macroeconomic situation in 2024 and its projection for 2025-2027, the Ministry of Finance (MF) published on Wednesday."In the medium term (2024 - 2027), the gross government debt according to the EU methodology will remain at a level not exceeding 52.5% of the GDP, below 60% of GDP, while the net government debt (gross government debt minus liquid financial assets) will not exceed 47.5% of the GDP," the report said.According to the document, in the medium term, the Ministry of Finance will pursue the objectives set out in the Government Debt Management Strategy for the period 2023-2025, namely: ensuring the financing needs of the central government while minimising medium and long-term costs; limiting the risks associated with the government debt portfolio; developing the domestic government securities market."The Ministry of Finance's policy is to provide financing predominantly in domestic currency, which will further facilitate the development of the domestic government securities market and at the same time support the reduction of exposure to foreign exchange risk, while taking into account the absorptive capacity of the domestic market as well as the need to diversify the investor base in government securities. Issues in euro on the domestic market will be considered for medium maturities, depending on market conditions and the appetite shown by the investment environment, under the conditions of an advantageous maturity/cost ratio," the report reads.In order to diversify the investor base and increase the accessibility of individuals to purchase government securities, the issuance of government securities to the general public will continue.At the same time, loans from international financial institutions (IBRD, EIB, EBRD, EBRD, etc.), as well as the amounts related to the loan component for the implementation of the National Recovery and Resilience Plan will contribute to the objective of minimising long-term financing costs.In order to improve public debt management and to avoid seasonal pressures in securing sources of financing for the budget deficit and refinancing government debt, the Ministry of Finance intends to continue the policy of maintaining a foreign currency financial reserve (buffer) at the disposal of the State Treasury, covering up to 4 months of gross financing needs.
Janiva Magness, the winner of seven Blues Music Awards following 26 nominations, and nominated for a Grammy for a career spanning 17 albums, is set to perform at the 14th edition of the Brașov Jazz & Blues Festival, which will take place between August 14–16, 2026. Magness is one of the most valuable and influential […]
Auction house Artmark announced a major auction for this winter featuring an engraving created by Francisco Goya, the most important Spanish artist of the late 18th and early 19th centuries. Romania's late communist leader Nicolae Ceaușescu received this gift from King Juan Carlos I as a gesture of diplomacy. The engraving entitled “The Engagement – Capricho […]
Authorities managing Romania's Bicaz Gorges–Hășmaș National Park has built a fish ladder system on the Bicaz River, which will allow protected species to migrate and reproduce. There are several bridges and small bridge structures in the Bicaz River that have a “bottom sill,” meaning small waterfalls. Fish that do not jump like the trout cannot […]
The far-right opposition parties in the Romanian Parliament are set to file a motion of no confidence against the government headed by prime minister Ilie Bolojan. The motion, authored by senator Ninel Peia of the Peace – Romania First group, is specifically aimed at the reformist party Save Romania Union (USR), and is entitled “Romania […]
Romania's iconic rock singer Adrian Pleșca, known as “Artan,” died on Tuesday, December 2, after a fatal stroke, at the age of 64. The artist founded the well-known band “Timpuri Noi” in 1982 and “Partizan” in 2001, and was popular on the Romanian rock scene. Over the years, he left and returned to the two bands. Several […]
Elon Musk's mother, Maye Musk, re-shared a post about the Craiova Christmas Market on X on Monday, December 1. She described the event as "beautiful" and included three emojis in her caption. The original post highlighted that the Craiova Christmas Market was taking place in a safe environment. "No concrete barriers. No armed guards. No […]
