In 2022, Romania managed to absorb 11.3 billion euros in European funds, prime minister Nicolae Ciuca declared on Wednesday, adding that it is the highest level reached since our country has access to these funds."We managed to get through all the challenges we had, the challenges that Romanian citizens have felt. (...) We need the same energy and activity from everyone. (...) We had a good budget execution, we managed to fall within the deficit targets," stated Ciuca.According to him, the Government managed to achieve an economic growth "that no one had predicted at the beginning of the year, especially after the outbreak of the war in Ukraine and after the effects produced by the increase in energy and gas prices and the inflation"."There were moments that we managed together, moments for which we found solutions and solved them one by one, but, at the same time, we also managed to design decisions that produce effects over time, which is why it is important to emphasize that we are committed to ensuring the absorption of European funds and all three lines of European financing total approximately 90 billion euros. (...) We managed to fall within the amount that we set as an objective, namely for at least 10 billion to be absorbed per year," explained the prime minister.He recalled that last year Romania undertook to provide the largest amount for investments. "We managed to secure this amount and to spend this money. Although delayed by the increase in the price of construction materials, we finally managed to fit into an absorption process of probably more than 70 percent. We are waiting for the month end figures and we will also announce the nominal value of investment expenditures," added Ciuca.
Romania’s Competition Council has approved the acquisition of Karamolegos Bakery Romania by Vel Pitar, a company fully owned by global bakery group Bimbo, the authority announced on May 12. Karamolegos Bakery Romania is involved in the production and sale of packaged bread under brands such as KB Toast, KB Selected, and Mândra. It also supplies […]
The National Bank of Romania (BNR) probably spent/sold EUR 6 billion of its foreign exchange reserves to prop up the local currency (leu) last week after the victory of far-right presidential candidate George Simion in the first round of elections, which led to the collapse of the government, according to an analysis by Austrian bank […]
Romania’s foreign trade deficit (goods) widened by 27% y/y to EUR 8.45 billion in Q1, according to data published by the statistics office INS. Exports rose by 2.7% y/y while imports surged by 8.1% y/y. Romania’s deficit in foreign trade in goods has reached EUR 35.2 billion in the four quarters to March 2025, or […]
Romania’s Treasury has launched new issues of government bonds under the Tezaur and Fidelis schemes, paying yields of 6.75% (1-year) to 7.8% (5-year) for the local currency debt and up to 6.25% (7-year) for euros. After the Treasury raised RON 21.4 billion (EUR 4 billion) under the two schemes year to date, the households’ demand […]
Romania’s Treasury on May 12 placed RON 540 million (EUR 100 million) of Government bonds on the domestic market at an average yield of 8.45% by reopening an issue that matures at the end of July 2026, according to the National Bank (BNR). The yield is 1.5 percentage points up from roughly two weeks earlier, […]
With five days remaining until the second round of Romania's presidential elections on Sunday, May 18, the race between far-right leader George Simion and independent candidate Nicușor Dan is extremely close, according to an AtlasIntel opinion poll conducted for
