Romania's public administration debt (government debt) widened in July 2023 to RON 733.87 billion from RON 724.76 billion in the previous month, according to data published by the Ministry of Finance.As a percentage of the Gross Domestic Product (GDP), government debt rose to 49% from 48.4% in June 2023.In July, the medium and long-term debt increased to RON 697.32 billion, from RON 695.23 billion in June 2023, and the short-term debt increased to RON 36.55 billion from RON 29.53 billion in the previous month.The largest part of this debt, namely RON 616.69 billion, was made up of state securities. Related loans amounted to RON 104.63 billion.The debt stated in the national currency, the leu (RON), amounted to RON 350.47 billion, when stated in the single European currency, the euro, it was the equivalent of RON 309.75 billion, and when stated in the US dollar it was the equivalent of RON 72.06 billion.The debt of the central public administration at the end of July 2023 was standing at RON 715.13 billion, up from RON 706.03 billion in June, including RON 678.6 billion in the medium and long term debt. Most of the borrowings of the central administration were in RON - RON 335.79 billion - and in euros - RON 305.68 billion, equivalent.The debt of the local public administration rose to RON 18.74 billion, from RON 18.733 billion in June 2023, including RON 18.705 billion in the medium and long term debt.The internal debt of the public administration was standing at RON 354.82 billion (23.7% of GDP) in July 2023, including RON 340.77 billion the debt of the central administration and RON 14.043 billion the debt of the local administration.According to the MF data, the external debt of the public administration was RON 379.05 billion (25.3% of GDP), including RON 374.354 billion in the external debt of the central public administration and almost RON 4.7 billion in the external debt of the local public administration.
The Bucharest office market has shown early signs of recovery, driven by a visible increase in pre-lease transactions, highlighting a renewed occupier appetite for future office spaces. The current development pipeline, exceeding 215,600 sq.m, the highest level in recent years, is expected to be gradually absorbed, according to data from the Cushman & Wakefield Echinox […]
The European Bank for Reconstruction and Development (EBRD) has officially launched its Risk Sharing Facility in Romania extending EUR 270 million in “green financing” to Romanian banks under the InvestEU program. Through its InvestEU guarantees, the EBRD expects to mobilize new green financing for individuals and companies in Romania, ensuring much-needed energy savings and carbon […]
The Haferland Week Festival will take place this year in Romania between August 6 and 9, celebrating local Saxon culture with a series of events themed “Longing for Transylvania.” The event will take place in 10 localities: Archita, Saschiz, Homorod, Rupea, Criț, Roadeș, Meșendorf, Cloașterf, Bunești, and Viscri. According to the organizers, the theme is […]
EUROPAfest will return to Bucharest between July 3 and July 12, bringing artists from 14 countries to the Romanian capital for the festival’s 33rd edition. The organizers said this year’s event will place a stronger focus on jazz while also continuing to feature blues, pop, and classical music performances. Artists from France, Italy, Ireland, Canada, […]
CPI Property Group has secured EUR 100 million in financing for Sun Plaza, one of the largest shopping centers in Bucharest. The funds were arranged through a club-deal involving OTP Bank and ING Bank Romania. The company said the transaction was signed through its subsidiary CPI Europe AG and also marks the beginning of a […]
Aquila (BVB: AQ), a major player in the Romanian market for integrated distribution and logistics services for fast-moving consumer goods, or FMCG, has inaugurated its new logistics center in Bacău, a strategic project in which the company invested over EUR 1.2 million. The new logistics infrastructure integrated the relocated operations into a modern facility with […]
