Romania ended 2021 with a budget deficit of 6.7 pct of GDP and we would have liked it to be 5 pct, but if so, we wouldn't have paid salaries and pensions, Finance minister Adrian Caciu said on Thursday at the Palace of Parliament."We managed to reduce the deficit for 2021. We're going to reduce the deficit in 2022 as well, but the fight against inflation is being conducted on several fronts. On the one hand, you reduce deficits and eliminate the risk of slippage. On the other hand, you have to act on the causes of inflation and the causes are the energy prices for which, next month, we come up with a series of solutions that will lead to stopping the increase in energy prices, if not their decrease," Caciu said.He added that the deficit could also be reduced by better revenue collection.Last year's budget deficit was set at 7.13 pct of GDP.The Minister of Finance participates on Thursday in the launching event of the four government programmes the institution is to implement in 2022, organized by the National Credit Guarantee Fund for Small and Medium Enterprises (FNGCIMM).The four programmes: IMM Prod, Rural Invest, Garant Construct and Innovation, are meant to support the objectives assumed through the Government Programme 2021-2024, in order to finance the economy and facilitate lending for micro, small and medium-sized enterprises, in partnership with the banking system and the associative forms of SMEs.
June is the richest month. The most awaited two weeks in my annual festival pilgrimage. The route starts with Romania’s Transilvania International Film Festival (TIFF), followed by Italy’s (and the world’s) most comprehensive festival for restored and archival film: Il Cinema Ritrovato. To shake up the traditional article on the two, I’ll start with the […]
Different Beauty, a recently opened exhibition of works by Czech photographer David Těšínský, offers a glimpse into everyday life in the war-torn region of Donbas in 2017. The photos were taken within the span of only a few days, as Těšínský traveled to eastern Ukraine to document the lives of women impacted by war. In […]
Different Beauty, a recently opened exhibition of works by Czech photographer David Těšínský, offers a glimpse into everyday life in the war-torn region of Donbas in 2017. The photos were taken within the span of only a few days, as Těšínský traveled to eastern Ukraine to document the lives of women impacted by war. In […]
Roughly 70% of Romanians are “very” or “moderately” concerned about how AI accesses and uses their data, according to the latest survey conducted by RoCoach in partnership with Novel Research between May and June 2025. Distrust in automated decision-making and the demand for regulation are becoming more pronounced, as Romania rolls out major digitalization projects […]
The Armenian Street Festival returns for a 9th edition between August 1 and 3, 2025, in the “Dimitrie Brândză” Botanical Garden in Bucharest. The festival brings into focus the living heritage of the Armenian community in Romania and the diaspora. According to the organizers, this year’s edition aims to strengthen the Bucharest–Chișinău–Yerevan cultural axis, articulated […]
The Romanian mergers and acquisitions market registered a total of 122 announced transactions in the first half of 2025, with a value exceeding EUR 2.7 billion, marking a slight increase of 6% in volume and 4% in value compared to the same period last year, according to an analysis by George Ureche, partner at PwC Romania. […]
