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.
The longest theatrical event in the world, “Horror Vacui,” will take place in February in Bucharest, as announced by the A.R.T. Fusion Association. The event consists of a large-scale artistic act supported by over 500 actors, which will take place between February 15 and 22 at the Galateca Art Gallery in Bucharest, for 7 days, 24 […]
Romanian voters who live abroad can register starting today, January 20, to vote in this year's presidential elections, the Permanent Electoral Authority (AEP) announced. Voters who live abroad can register on the website votstrainatate.ro. The website has sections for those who wish to vote at a polling station abroad and those who plan to vote […]
Romania won 35 medals at the IISA 6th Ice Swimming World Championship held between January 13-19 in Molveno, Italy. Eight of the medals were won in the overall rankings, of which two gold, two silver, and four bronze. Another 27 medals were earned in the age category rankings - ten gold, nine silver, and eight […]
The Romanian Intelligence Service, or SRI, said it prevented a sabotage operation planned in a way “specific to the Russian services” in the summer of 2024. The sabotage attempt happened in July-August 2024, and SRI managed to prevent its execution by identifying the perpetrator, a Colombian citizen, just before he could act. The man, Luis […]
A Romanian Library Corner will be inaugurated this month at the Worcester County Library in Ocean City, Maryland. According to an announcement from the Romanians of DC organization, the event is scheduled for January 24. The Romanian Library Corner has been established with funding and support from Romanians of Washington, DC, and in partnership with […]
Bird mortality due to electrocution is a major conservation issue, with uninsulated medium-voltage power lines, often used by birds as resting spots, posing one of the greatest risks to these species. In this context, the Romanian Ornithological Society (SOR) partnered with Rețele Electrice România to install insulating sleeves on medium-voltage poles in the central area […]
