Romania's Transport minister Relu Fenechiu, a member of the National Liberal Party, received a 5-year sentence in a corruption case on Friday. The sentence can be appealed. Fenechiu's brother, Lucian Fenechiu, also received a 5-year sentence in the same case. Relu Fenechiu has ben indicted under charges of abuse in office against public interest and complicity to abuse in office in a case dating in the early 2000's and related to public procurements in the region of Moldova, which benefited Fenechiu's companies.
UPDATE PM Victor Ponta announced following the court verdict on Friday that minister Fenechiu informed him about his wish to withdraw as a member of the government. Ponta said he would take over as interim minister until a new one is named.
The ruling coalition will no longer negotiate with the Superior Council of Magistracy (CSM) and the High Court (ICCJ) on the magistrates’ pensions law but instead will come up with a revised version of the bill by November 18, inviting magistrates’ associations to demonstrate their loyalty by issuing the necessary consultative opinion timely, such to […]
Along with the American investment fund Carlyle, which is said to want Lukoil's assets under a global deal and is already active in Romania through the Black Sea Oil and Gas company as the third largest gas producer in Romania (10%), there are at least two other companies interested, according to Romanian minister of energy […]
Subscriptions under the November 2025 issue under the Fidelis government bond scheme were the weakest in the last six months, signalling a moderation in investor appetite for this form of savings. The state raised only RON 1.3 billion (EUR 260 million), of which approximately two-thirds came from tranches denominated in euros,
The International Monetary Fund (IMF), under its annual Article IV Consultations with Romania, said that the country’s general government budget deficit may drop to 5.8% of GDP in 2026 and suggested further steps for further fiscal consolidation. The Fund’s proposed plan focuses on personal income taxation, which would generate 0.9% of GDP higher revenues by […]
Romania’s current account (CA) deficit widened by 7.5% y/y to EUR 8.8 billion in Q3, despite a slight improvement in the balance of trade in goods (the country’s main source of external deficit), according to data published by the National Bank (BNR). The deficit of the trade in goods contracted by 7.8% y/y (by EUR […]
National Bank of Romania (BNR) governor Mugur Isărescu, on November 14, while unveiling the Inflation Report, argued that the Romanian economy will most likely not record two consecutive quarters of negative growth, which would mean entering a recession, but even in such a scenario, the evolution for the entire year will be positive, of approximately […]
