Carpatica Feroviar, which will be in operation as of 2025 according to plans, represents a fresh start for railway goods transport in Romania, because a company with a debt over 4 billion lei, as CFR Marfa, cannot develop, said Ionut Cristian Savoiu, secretary of state in the Ministry of Transports and Infrastructure, on Thursday. “The new company starts with a full state capital. We had talks on two variants with the Commission. One with the participation of strategic investors or stock exchange listings, which means 25% of company capital. Obviously listing requires preparation which means about two years,” said the secretary of state. Carpatica Feroviar will have the same kind of business as CFR Marfa had, but it will not be able to take over the active stock automatically, but will be purchased through legal procedures. The setup and accreditation period of the new company is 6 months after the publication of the Government Decision in the Official Monitor. “Our optimistic scenario shows that in 2025 we might have Carpatica Feroviar functional after being set up in 2024,”he pointed out. After the setting up of Carpatica Feroviar, CFR Marfa must liquidate its patrimony, which has been blocked by ANAF, and must pay the debt it owns to CFR SA for the state aid. The secretary of state added that 3,300 employees from CFR Marfa would be taken over by Carpatica Feroviar. According to the Substatiation Note accompanying the draft Government Decision, the company will have to ensure strategic transports of the Romanian state, accounting for the risk of refusal from private transport companies to carry out certain railroad transports or even their impossibility of taking them over in crisis situations. The new company will carry out activities of strategic interest – taking into account Romania's international partnerships and the need to cover transports of goods in situations of crisis and commercial interest- as it is a company with state capital, se up from its own sources, which will transport goods, thus completing demands of the railway transport market.
The main risk for Romania's macroeconomic balances rests in the budgetary area and are related to the commitment for full implementation of the first and second packages this year and in 2026 – but even under the best case scenario, the measures legislated so far would not bring the general government deficit lower than 6% […]
International rating agency Moody's on September 12 affirmed Romania's Baa3 sovereign rating with a negative outlook, pointing to the risks related to the implementation of the fiscal consolidation measures through 2026 and the urgency for the government to present a detailed plan for continued deficit reduction also in 2027 and beyond. "[W]e remain firmly committed […]
Pulitzer Prize winner Junot Díaz, Tracy Chevalier, the author of the international best seller Girl with a Pearl Earring, and French author Michel Bussi, known for his widely translated thriller novels, are among the authors set to attend this year’s Iași International Literature and Translation Festival (FILIT), the largest literary festival in the country. They […]
Bucharest is about to welcome a culinary moment like no other. This September, the JW Marriott Bucharest Grand Hotel will host Michelin-starred Chef Theodor Falser - a name synonymous with nature-inspired haute cuisine - for three exclusive evenings that promise to delight the senses and tell stories through food. The Chef Who Cooks Nature Theodor […]
The International Monetary Fund (IMF) has endorsed Romania’s latest fiscal measures, forecasting that the economy will grow by 1% in 2025 and 1.4% in 2026, the government said Friday, September 12, after talks with a visiting IMF delegation. The delegation, led by Joong Shik Kang, met prime minister Ilie Bolojan in Bucharest to discuss the […]
The George Ciprian Theater in Buzău has unveiled “E-Waste E-Motion,” the first performance in Romania in which all characters are played by small autonomous robots, blending art, technology, and sustainability in an experimental theatrical project. “E-Waste E-Motion” is part of a broader artistic research initiative supported by the National University of Theatre and Film (UNATC) […]
