OTP Bank Romania, which is in the process of being taken over by the market leader by assets Banca Transilvania, announced its net profit surged seven-fold to RON 262mn (EUR 52mn) in 2023, according to Economica, based on the annual report published by OTP Bank in Budapest.
The adjusted profit...
Unionists from the Sanitas Federation and several education sector federations will protest on July 7 in front of the Romanian Parliament against the fiscal measures proposed by the government, which they describe as austerity policies affecting public sector workers, Agerpres reported. Sanitas,...
Defic Globe, a subsidiary of Turkish energy conglomerate YEO Technology, has acquired 15 project companies in Romania developing renewable energy facilities with a combined capacity of 219 MW, Profit.ro reported. The portfolio,...
Prime minister Ilie Bolojan announced on July 2 that the government would come up with a second package of measures by the end of the month to promote important reforms such as changes to special pensions - a milestone in the National Programme for Recovery and Resilience PNRR - the reorganization of public institutions and […]
Romanian authorities believe the recently approved fiscal corrective package, with an estimated impact of 0.56% of GDP, will be sufficient to reassure the European Commission and international credit rating agencies of the country's commitment to fiscal discipline,
Romania's first fiscal package under prime minister Ilie Bolojan has drawn strong criticism from both employers' organisations and trade unions, who argue that the new tax measures unfairly burden the private sector and risk worsening social inequality. The Concordia Employers' Confederation and the Economic and Social Council (ESC) both issued negative opinions following consultations with […]
The Romanian government adopted a fiscal corrective package on July 4 worth RON 10.7 billion (EUR 2.1 billion), equivalent to 0.56% of GDP. The package includes tax increases, reductions in public spending, and changes to health insurance contributions aimed at improving the general government budget balance in line with the consolidation trajectory recommended by the […]
