The European Public Prosecutor’s Office (EPPO) in Timi?oara and Bucharest (Romania) has accused four individuals and one company of subsidy fraud, involving a project funded by the Regional Operational Programme 2014–2020, with over €2.8 million of non-reimbursable funding from the EU and national sources, https://www.eppo.europa.eu/ informs. As reported in March 2024, the administrator of the beneficiary company is accused of falsifying statements to claim the completion of works that were not fully executed. It is alleged that tax invoices, work reports, and quotations were submitted to the EU funds management body, misleadingly indicating that the works were completed. Additionally, the suspects are accused of using forged documents to prove that the equipment to carry out the works was delivered before the project deadline. During searches conducted in March and this week, authorities seized houses, land, and cash worth €1 million from the suspects in an effort to recover defrauded EU and national funds. Thanks to a swift investigation, over €1.8 million in non-reimbursable funding from the European Regional Development Fund (ERDF) and national funds was never disbursed. If found guilty, the suspects face between three to ten years of imprisonment. All persons concerned are presumed to be innocent until proven guilty in the competent Romanian courts of law. The EPPO is the independent public prosecution office of the European Union. It?is responsible for investigating, prosecuting and bringing to judgment crimes against the financial interests of the EU.
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
