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.
Romanian gas producer Romgaz (BVB: SNG) has filed an action with the European Court of Justice against the European Commission, requesting the annulment of certain regulations that impose CO2 storage quotas on oil and gas companies. The company considers the quotas disproportionate. It is the first time that Romgaz has initiated a direct action against […]
Bucharest residents can donate clothes in good condition, non-perishable food, and toys for the families affected by the explosion that left 3 dead and many others injured, and nearly collapsed the apartment building in District 5 on Friday, October 17. "Following the devastating explosion in District 5, entire families have been left without housing, and […]
RoPower Nuclear, the developer of the SMR (small modular reactor) project in Doiceşti, Romania, announced the signing of a contract with Studsvik Scandpower, one of the global leaders in software dedicated to nuclear fuel analysis, on Friday, October 17. The president of the Swedish group emphasized that Romania is setting an important precedent for the […]
Energy regulator ANRE has launched an investigation into whether the gas distributor followed proper safety procedures before the powerful explosion that killed three people and injured others at an apartment building in Bucharest’s Rahova district on Friday morning, October 17. According to
In the first half of 2025, Romania ranked 52nd worldwide among the countries most frequently affected by cyber activities, according to the new Microsoft Digital Defense Report. The sixth annual report, covering trends from July 2024 to June 2025, emphasizes that traditional security measures are no longer sufficient. Modern defenses and strong collaboration between industries […]
Via Transilvanica, the long-distance trail that traverses Romania’s cultural, historical, and natural landscapes, has been awarded silver in the “Peace, understanding and inclusion” category at the 2025 Europe Responsible Tourism Awards. The initiative is organized by the International Centre for Responsible Tourism Global (ICRT Global). The award ceremony took place at the Press Club Brussels […]
