The Government "has reached an agreement" with the European Commission on the fiscal plan to reduce the deficit, Prime Minister Marcel Ciolacu said on Wednesday, stressing that it is essential that the EC experts agreed that Romania needs the required period of 7 years to carry out major investment projects in the economy."We have reached an agreement with the European Commission on the fiscal plan. It is essential that the Commission experts agreed that Romania needs a period of 7 years to make massive investments in the economy. This is the only way we will reach the EU average in terms of development, citizens' incomes and living standard in general. There is also an agreement on the idea that if the deficit is lower than investments, then we are on a healthy trajectory," Ciolacu said at the beginning of the Government meeting.He added that, obviously, in parallel, the state "must make an effort to reduce spending, so that the economic balance be consolidated in the coming years.""Therefore, investments will grow in the coming years and we will continue to invest massively in the economy and in infrastructure," the prime minister said.But a Commission spokesperson for economic affairs told Reuters that it has agreed with Romania to extend its deadline to file the medium-term plan to Jan. 31."Since we have not received Romania's plan yet, we cannot comment on its content," the spokesperson said."Ahead of the submission of the plan, the Commission is engaging in technical dialogues with member states, including with Romania, with the objective of ensuring that the plans comply with all the requirements set out in the legislation."Romania has yet to unveil a 2025 budget plan, but analysts and ratings agencies expect some measure of tax hikes to be enforced to shore up public finances.The coalition government has raised the minimum wage and has raised state pensions twice this year.Romania has the EU's fastest rise in wage costs and its widening budget deficit is limiting the central bank's room to cut interest rates.
The famous show "Ovo" ("egg" in Portuguese), created in 2009 by Cirque du Soleil, is scheduled for April 23–26, 2026, at BT Arena in Cluj-Napoca. So far, the classic Cirque du Soleil show has delighted over 7 million spectators in 40 different countries. Despite its age, it has been reimaged, with a new set, acrobatic […]
The state-owned group Electrica is set to list the largest green corporate bond issuance in Romania, worth EUR 500 million, on the Luxembourg and Bucharest stock exchanges. According to the company's press release, the European Investment Bank is one of the key participants in the issuance. Overall investor demand at the final price exceeded the […]
Low-cost airline Wizz Air announced a major expansion of its operations in Bucharest, adding a second aircraft to its base at Băneasa Airport starting this October. The airline will relocate nine routes from Otopeni to Băneasa, five of which will be operated exclusively from the secondary airport. At the same time, six new routes will […]
The annual inflation rate in Romania rose to 5.7% in June, up from 5.45% in May, according to data published on Friday, July 11, by the National Institute of Statistics. It is the highest level this year. The consumer price index, compared to May, was 0.45%. The inflation rate from the beginning of the year, […]
A taxi driver who refused to pick up a passenger at Bucharest’s Henri Coandă International Airport on Thursday night, citing the rule that prohibits the second car in line from leaving the queue, was fined and had his professional license suspended, according to the Romanian Police. Local news channel Digi24...
Local authorities in Buzău County, in the south-east of Romania, announced the opening for traffic of the new bridge over the Buzău River on Friday, July 11. At over 1.3 km in length, it is the second-longest road bridge in the country and is part of the Lot 1 Buzău – Vadu Pașii of the […]
