The International Monetary Fund (IMF) delegation present in Bucharest these days did not ask Romania for drastic measures, tax increases or austerity measures, stated the minister of finance, Tanczos Barna, who met on Thursday with the new head of the IMF mission in Romania, Joong Shik Kang."By gradually restoring the budget balance, we will be able to avoid exactly those painful measures that Romania was forced to take during the 2009 crisis and which, rightly, still generate fear among the people regarding the visits of the International Monetary Fund. The International Monetary Fund delegation is on an informal working visit to Bucharest and, contrary to the alarmist rumors of the last few days, did not ask Romania for drastic measures, tax increases or austerity measures," the minister of finance wrote on his Facebook page.Tanczos Barna stated that, during the discussion with the representative of the international financial institution, he reaffirmed the commitment of the Romanian authorities to reduce the budget deficit and create a more flexible state in the next 7 years, increasing allocations for investments that support the economy."We agreed that Romania must regain the trust of international partners and investors, and this is possible only by respecting the commitments assumed and by bringing stability and predictability to the country's finances. We have already taken the first step, by adopting the budget, and now a consistent implementation is necessary," the same source emphasised.An International Monetary Fund mission is visiting Bucharest, from February 3 to 7, for an analysis of the latest economic developments and an update of the forecasts.Currently, Romania does not have an ongoing financing agreement with the International Monetary Fund, but the financial institution annually assesses the development of the Romanian economy, based on consultations on Article IV.
ASI Alpaco has announced the relocation of its manufacturing operations from Belgium to Romania, setting up a new facility in the Bucharest-Ilfov region. The company, the exclusive representative of ASI Group in Europe and the UK, aims to become the leading regional manufacturer of washroom cubicles, lockers, and other medical furniture solutions made from compact […]
Romanians appreciate the fact that Donald Trump and Vladimir Putin are negotiating peace in Ukraine, but they do not have much trust in the American president, according to a new Avangarde survey compiled in February. Respondents also said that they favor the European Union and NATO and do not want the dismantling of the American […]
Crin Antonescu, the ruling coalition's joint candidate for the presidency, ruled out the possibility of Romania sending peacekeeping troops to Ukraine as part of an international effort. "If I become president, we will not send troops to Ukraine. Period. We will continue to support Ukraine logistically and politically," Antonescu...
Fading Studies, an exhibition of new works by Răzvan Anton, is scheduled to open at Gaep on February 28. The exhibition presents works rooted in a family collection of images, namely 8mm footage shot mostly by the artist’s father during the 1970s and 1980s. This material prompts a significant body of new sun prints and a […]
NAGA, a fintech listed on the Frankfurt Stock Exchange, announced the integration of shares listed on the Bucharest Stock Exchange (BVB) into its investment platform. Operating in over 100 countries, NAGA says it became the first international broker to offer direct access to Romanian companies’ shares, facilitating retail investments on BVB on a global scale. […]
Wendy’s is set to open its first restaurant in Romania at the Mega Mall shopping center in Bucharest, according to information from developer NEPI Rockcastle, Economica.net reported. The company is also planning an expansion in Iași, where it is currently seeking a restaurant manager. The American fast-food chain is entering the...
