The Presidents of Romania and Bulgaria Klaus Iohannis and Rumen Radev discussed on Tuesday the diversification of energy sources and transport routes amid efforts to reduce energy reliance on the Russian Federation."With the mounting need to reduce energy reliance on the Russian Federation, we discussed the diversification of energy sources and transport routes. We also emphasized the importance of the speedy commissioning of the Bulgaria-Greece interconnector. Once completed, this can be connected to the already operational BRUA pipeline for the key important Vertical Gas Corridor to become operational," President Iohannis told a joint press conference delivered with his Bulgarian counterpart at the Cotroceni Palace.Klaus Iohannis brought to mind that he had also discussed the matter with Greek Prime Minister Kyriakos Mitsotakis, and there are promises for the interconnector to be switched on by the end of this year."And then we can benefit via Bulgaria from liquefied natural gas that will be unloaded off the Greek port [of Alexandroupolis]. On the other hand, work is underway on other alternative gas supply routes and we are in advanced negotiations with several sources. It is obvious that by the beginning of the winter of 2022 - 2023 we must have viable gas supply alternatives in place," Iohannis added.President Radev noted that the Bulgaria-Greece interconnector is several years behind, but stressed that effort is put in to recover the delay. According to the Bulgarian President, the company in charge of the project has promised that works will be completed in July.The initial transmission capacity is 3 billion cubic meters per year, this is in fact the annual consumption of Bulgaria, and it can be increased to 5 billion, and as far as I know Romania's gas output is of over 11 billion cubic meters per year, said the Bulgarian President.
The gross income of employees who worked full-time under a labour contract and were paid for the entire month of October 2024 was RON 8,374, more than a quarter above the basic gross salary of RON 6,553, according to data from the National Institute of Statistics (INS) published on Friday.Around 40% of these employees earned […]
Over 31,600 building permits for residential properties were issued in the first ten months of this year, up 4.1% compared with the same period last year, according to data from the National Institute of Statistics (INS) published on Friday.Increases were recorded in all development regions: West (+297 permits), Centre (+235), North-West (+192), North-East (+134), South-East […]
VAT revenues increased in the third quarter of this year by 6.74 billion lei compared to the same period last year, totaling 35.48 billion RON, out of a total of 94.75 billion RON for the first nine months of 2025, according to data transmitted on Monday by the Ministry of Finance.Of the amount of 6.74 […]
Banca Comerciala Romana (BCR) listed on Friday a new bond issue on the Regulated Market of the Bucharest Stock Exchange (BVB), worth 1.12 billion RON, the BVB said in a release.This is the 11th bond issue listed by BCR on the Stock Exchange to date, bringing the total value of BCR's listed bonds close to […]
Romania's insurance sector is strengthening its performance against the backdrop of a dynamic market undergoing significant structural transformation, according to a new study on developments in the insurance markets of Central and Eastern Europe, conducted by a consultancy firm in partnership with a research provider."Romania stands out as one of the most dynamic insurance […]
The minimum turnover tax is a barrier to investment, and in a period when the private sector is undergoing restructuring and layoffs, it adds additional pressure on companies, according to a letter signed by 14 investor organizations that once again request the elimination of the minimum tax."In view of the discussions on the construction […]
