The budgetary deficit continues to grow, which creates a higher pressure on the public finances, and Romania needs firm and urgent measures to keep its international credibility and economic stability, says the minister of finances, Alexandru Nazare.'The budget deficit continues to grow. I do not have a simple mission, but I will say with full responsibility: Romania needs firm and urgent measures to preserve its international credibility and economic stability. Today, the Ministry of Finance published the budget execution at the end of May 2025, and the data clearly show that the budget deficit continues to increase. In nominal terms, it reached RON 64.23 billion, RON 4.13 billion more than in the same period in 2024, even though in percentage terms it remains almost constant (3.39% of GDP vs. 3.41% in 2024). This widening of the deficit is creating increasing pressure on public finances, in a context in which Romania is under close scrutiny by the rating agencies and the European Commission,' the minister wrote on his Facebook page on Friday. He reiterated that the Fitch Ratings agency said that Romania is risking to lose its recommended investment grade if they do not apply rapid measures for fiscal consolidation, and the European Commission started the procedure for excessive deficit and required a plan for correction credible until the end of June and without it, Romania risks the suspension of European funds.The Finance Minister pointed out that revenues grew by 13.6 per cent, with large contributions from income tax, social security contributions, excise revenues and EU funds. At the same time, expenditures grew by 12.2 per cent, with the largest shares coming from social assistance expenditure, interest costs and public investment expenditure. 'Basically, spending grew at a faster pace than the country's economy managed to grow over the past year. If we do not urgently correct this imbalance, Romania's access to favourable financing may be jeopardised, with dramatic consequences for the economy, interest rates, investment and jobs', Alexandru Nazare pointed out. (Photo:https://www.facebook.com/)
Romanian deep-tech startup .lumen, the developer of what it says are the world’s first AI-powered glasses for the blind, has secured a new investment from EIT Urban Mobility, the European innovation community focused on advancing sustainable and inclusive urban mobility solutions. The value of the new funding round was not disclosed. The investment aligns with […]
The health spending per capita in Romania was the lowest in the EU, with spending less than half the EU average in 2023, the recently released report, State of Health in the EU - Romania Country Health Profile 2025, shows. At the same time, life expectancy in Romania is 5.1 years below the EU average, […]
Romania’s annual inflation rate stood at roughly 9.8% in November 2025, similar to October, according to data published by the National Institute of Statistics (INS). Food prices increased by 7.6% last month, while services rose roughly 11% and non-food goods climbed 10.7%. The consumer price index rose by 0.42% in November compared with October, while […]
Three French soldiers deployed in Romania as part of NATO’s Multinational Battle Group at Cincu intervened to save a truck driver following a serious traffic accident on the A3 Bucharest–Ploiești motorway, the Romanian Ministry of Defense said. The incident occurred earlier this week as the soldiers were traveling toward Ploiești and witnessed the truck crash...
Eight contemporary art galleries will present the works of the artists they represent at the third edition of the Smallest Art Fair in Town, an event dedicated to works on paper. This edition showcases works “investigating the state of wandering, disorientation, and rediscovery in the face of uncertainty.” Under the title In Dark Woods, A […]
Parents everywhere are asking an important question: What skills will truly prepare a child for a world defined by rapid change, global uncertainty, and the rise of artificial intelligence? For decades, schools focused entirely on academics. Today, research from neuroscience, performance psychology, and leading universities shows a different reality: The students who thrive long-term are […]
