President Klaus Iohannis promulgated on Thursday a law on the purchase of 32 F-16 airplanes, as part of the program “Multi-role Air Force planes”. The law stipulates the purchase of 32 F-16 airplanes by the Government of Romania from the Norwegian Government, together with logistic support and technical - engineering staff training, while observing provisions of article 22, letter f) from government emergency order no 114/2011 on public purchase contracts in the fields of defense and security, approved with amendments through law 195/2012, with later amendments and completions. The Finance Ministry is authorized, upon the suggestion of the Defense Ministry to ensure additional credit, representing the equivalent in lei of 494 million euros, needed for signing the contracts. Budget credits needed to carry out contracts provided at art. 1, and engagement credits supplemented in conditions of paragraph 2, are ensured by the state budget, through the Defense Ministry budget, in the limit of budget credits allocated by annual budget laws.
Romania has become the EU country with the highest unemployment rate among young people under 25 (26.3%), according to official Eurostat data published in December 2024 and analyzed by the Social Monitor, a project of the Friedrich Ebert Foundation Romania. Thus, Romania surpassed states such as Spain and Greece, where youth unemployment has always been […]
In its half-year report for the second half of 2024, TikTok said it blocked 33,000 spam accounts in Romania and nearly 100,000 fake accounts. It highlighted its intense activity in blocking fraudulent activity related to Romania, particularly during the electoral campaign, indirectly admitting the...
Moldovan president Maia Sandu has acknowledged that some local entrepreneurs are transferring capital to Romania due to its stability as a European Union and NATO member state. Speaking about the country's economic stagnation in 2024, when GDP grew by only 0.1%, and the technical recession in the second half of the year, Sandu highlighted concerns […]
Battery Energy Storage Systems (BESS) are set to become a central component of Romania's power system, according to Oxford-based Aurora Energy Research, whose analysts see investments in Romania's BESS totaling several gigawatts of capacity and several billion euros over the next decade. Aurora pointed to both the opportunities and the risks and uncertainties associated with […]
Romania’s insurance market grew by 11% year-on-year in 2024, reaching a total gross written premium volume of RON 23.4bn (EUR 4.7bn), according to a report published on 1 April by the Financial Supervisory Authority (ASF). General insurance accounted for 81% of total underwritings, while life insurance represented 19%. The total value of insurance premiums for […]
Romania’s authorities are reportedly negotiating with Turkish company Desan Shipyard, which is pondering the option of taking over the activity of Damen Shipyards Mangalia, abandoned last year by its 49% strategic shareholder Damen and currently under insolvency, according to
