The draft law on the state budget for 2025 and the draft law on state social insurance were approved on Wednesday evening by the joint plenary session of Parliament.For the draft law on the budget, there were 254 votes in favour and 192 votes against, while for the draft law on state social insurance, there were 255 votes in favour and 192 votes against.The two draft laws will be sent for promulgation to the President of the country, and after the decrees are signed, they will be published in the Official Journal.This year, the state budget was debated in Parliament over two days.The 2025 budget draft was approved by the Government on February 1.The budget is based on an economic growth of 2.5% and a budget deficit of 7% of GDP.Finance Minister Tanczos Barna emphasised in the joint plenary session of the Legislature that the state budget for 2025 is a balanced budget, one that is based on a prudent increase in revenues, without exaggerations.He also pointed out that the Law on State Social Insurance provides "first and foremost, payments for pensions.""Regardless of who will be in power in three, four, or five years at the Ministry of Finance, Romania's commitment to the European Commission must be respected, step by step, we must reduce the budget deficit, and at the same time, maintain investments. Investments are the engine of the economy, and investments are maintained in this budget. (...) This budget is a balanced one, based on a prudent increase in revenues, without exaggerations," said the Finance minister.
Romania’s profit share, defined as the proportion of value added distributed by non-financial corporations to capital rather than labour, fell for the second consecutive year to 48.1% in 2024, Eurostat reported on December 7. The ratio was 40.0% on average in the European Union, with below-average ratios in more developed countries such as France (32.2%) […]
The pension law "brutally violates the independence of the judiciary" and "de facto eliminates the service pension for magistrates," according to the reasoning published by the High Court (ICCJ) along with its decision to refer the magistrates' pensions law to the Constitutional Court, Ziarul Financiar reported. ...
The Romanian state, in a document on December 5, expressed its intention to take full control of the National Airports Company of Bucharest (CNAB), which operates Otopeni Airport and Baneasa Airport, where the minority shareholder Fondul Proprietatea has a 20% stake, Ziarul Financiar reported. The...
Romania's Interministerial Committee for Supporting the Implementation of Reform 9 (CNR9), led by deputy prime minister Oana Gheorghiu, has selected 17 state-owned enterprises from a total of about 1,500 to undergo initial screening ahead of potential restructuring or liquidation. The decision marks the first stage of a wider overhaul programme announced by prime minister Ilie […]
The retail sales volume index in Romania recovered for the second consecutive month in October, when it increased by 0.9% m/m after the 1.3% m/m advance in September – but it was far from fully recovering the 4.0% m/m plunge seen in August as an effect of higher VAT rate enforcement amid already negative consumer […]
Romania’s total market production index (TMPI), a composite indicator compiled by Eurostat that combines four short-term business statistics indicators covering most of the market economy, increased by 4.2% y/y in Q3 - the sharpest rise in seven quarters (+0.3% y/y in Q2) and twice the 2.1% average advance in the European Union. The seasonally-adjusted index […]
