The amounts earmarked for investments hold an important share in the budget structure in 2024, more than 7% of the GDP, Prime Minister Marcel Ciolacu said during a meeting at the Victoria Governmental Palace on Wednesday with a World Bank delegation led by World Bank's Country Director for the European Union Marina Wes.According to a Government press release, the preparation of the budget for the year 2024 was an important part of the discussions, with the prime minister presenting on this occasion the objectives pursued by the Government in the configuration of the budget allocations for next year."The amounts earmarked for investment occupy an important share in the budget structure for 2024, of over 7% of the GDP. The government is also considering introducing a set of new measures to combat tax evasion and setting up an inter-institutional structure to ensure consistency in the implementation of these measures," the prime minister is quoted in the press release as saying.Marcel Ciolacu highlighted the efforts made to increase the absorption rate of European funds, showing that Romania will end the current financial year with an absorption rate of about 97%.World Bank's country director Marina Wes voiced the WB's willingness to continue to support the Romanian authorities, both in terms of making tax collection policies more efficient and combating tax evasion, the press release said.
Marriott International announced plans to expand its presence in Romania with five new hotels and more than 550 additional rooms expected by the end of 2028. The expansion will also mark the debut of two Marriott brands in the country, Residence Inn by Marriott and Four Points by Sheraton, as the company strengthens its portfolio […]
Bucharest City Hall (PMB) listed a new bond issue (PMB31) on the Bucharest Stock Exchange (BVB) on Wednesday, May 14, with a total value of RON 555 million (EUR 108.7 million). It is the eighth issue of the Municipality of Bucharest listed on the stock exchange in the last 10 years, and was subscribed by 26 […]
Romania's state-controlled hydropower group Hidroelectrica (BVB: H2O), the largest energy producer in the country, registered a net profit decrease of 56% in the first quarter, dropping from RON 1.32 billion (EUR 258.5 million) to RON 589 million (EUR 115.3 million). Net electricity production was 2,654 GWh, down 38% compared to the same period last year, […]
Timișoara will host the first football-themed film festival in Romania and Eastern Europe this November, marking a unique cultural initiative at the intersection of sport, cinema, and community identity, Agerpres reported. Organized by the Druckeria Supporters’ Association, the inaugural edition of the Timișoara...
The well-being of children in many of the world’s richest countries, including Romania, has deteriorated significantly since the COVID-19 pandemic, according to a new analysis released by UNICEF Innocenti – Global Office of Research and Foresight. The top three countries are the Netherlands, Denmark, and France, while Romania is at number 16 in the report, […]
Marius Lulea, vice president of the far-right Alliance for the Union of Romanians (AUR), publicly praised former Communist dictator Nicolae Ceaușescu, drawing condemnation from historians and legal experts for promoting a convicted criminal against humanity,
