The Minister of Finance, Adrian Caciu, has met, on Tuesday, in Brussels, the European Commissioner for Economy, Paolo Gentiloni, to whom he presented the budget measures taken by the Government in the context of ensuring the sustainability of public finances and the proposals for the modernizing the tax policy.According to a release of the Finance Ministry, sent on Tuesday, the meeting between the two officials took place on the sidelines of the ECOFIN Council in Brussels.The Finance Minister has emphasized respecting the commitment regarding the adoption in due time of the budget for 2022, its form managing to avoid the premature withdrawal of budget support for managing the effects of the pandemic crisis and to create, at the same time, fiscal space.Adrian Caciu pleaded to reach a balance between maintaining the commitment of Romania to return to the limits of the Stability and Growth Pact in 2024 and the gradual accomplishment of fiscal consolidation, taking into account the increased needs for public investments.Regarding measures to support investments, the Finance head mentioned that "even in the conditions of a total adjustment of costs, investment spending had a major increase ensured, of over 1 percentage point, up to the level of 6.7% of the GDP, especially through the use of non-returnable external funds made available by the European Union."According to the quoted source, the two officials also discussed policies in the realm of taxation.The Finance Minister reiterated the priority of the Government in regards to reducing the VAT deficit through combating tax evasion by means made available both by the national legislation, as well as by the European one."The Government's priority is to reduce the fiscal deficit in VAT and to reduce tax evasion. We maintain our commitment to return to the limits of the Stability and Growth Pact in 2024," Adrian Caciu told the EU Commissioner for Economy.On the other hand, the Finance Minister also presented to the European Commission representative the mechanism for the B2B electronic bill for products with a raised fiscal risk, as well as the E-Transport system established by Government Emergency Ordinance no. 130/2021.
Cannes Film Festival announced new additions to the 2024 official selection, and two Romanian productions are on the list. Trei kilometri până la capătul lumii/Three kilometers to the end of the world, the feature directed by Emanuel Pârvu, entered the competition, while Nasty, Tudor Giurgiu's documentary about tennis legend Ilie Năstase, has been selected in the special screenings category. […]
The Association of Romania's Wood Industry (AIL) accuses Greenpeace and Agent Green of attacking the entire wood processing industry with no grounds, furthermore misleadingly using specific terms to magnify the impact of its rhetoric in the international media. The two NGOs cultivate confusion between the term "old forests" (a legally undefined term) and the term […]
After a 13-hour debate on April 22/23, the two parties of Romania’s ruling coalition abandoned their preliminary joint candidate for the key local elections in Bucharest, Catalin Cirstoiu, skipped joint plan B and plan C announced by the Liberals (PNL) at the end of last week, and decided to appoint individual candidates for the Bucharest […]
Eurowind Energy, a Danish developer and operator of wind, solar, and hybrid projects, contracted a EUR 65.33 million loan sourced in equal parts by Erste Group Bank and its Romanian subsidiary BCR for the construction of the Pecineaga wind farm, with a total capacity of 48 MW. Pecineaga wind farm involves a total investment volume […]
CTP, the largest owner of warehouses in the country, plans to end the year with a portfolio of 3.1 million sqm after the takeover of part of Globalworth's portfolio and projects of about 240,000 to be developed. The company's portfolio was 2.6 million sqm before the EUR 170 million takeover. "We are planning this year, […]
Julius Meinl Living announced the completion of the acquisition of the Ambassador hotel in downtown Bucharest, with an area of 12,600 sqm. The hotel is to be opened under the name "The Julius Bucharest" in 2027 after an extensive renovation process that will result in 158 luxury rooms and apartments, according to a company press […]
