The government has allocated RON 13.6 billion from the Budget Reserve Fund for education, health care, social assistance benefits and pensions, Finance Minister Marcel Bolos announced on Thursday, noting that this mechanism will be used until the end of the year for the appropriate control of state budget spending."The government has allocated RON 13.6 billion from the Budget Reserve Fund for important activities such as education, health care or social assistance benefits, including the funds necessary for the disbursement of pensions. The Budget Reserve Fund mechanism was adopted as we pursue a year-end budget deficit target of 4.4 percent of GDP, as set forth in the Convergence Program, and this is an extremely serious commitment undertaken towards the European Commission. Under these circumstances, the control over state budget expenditures must be an appropriate one, attaching utmost priority to the state's operating expenses, but also to the completion of investment projects with EU funding," Bolos said at the Victoria Palace of Government after the meeting of the Executive.He explained that through the Cohesion Policy for the 2014 - 2020 programming period, Romania must absorb an EUR 24 billion allocation until December 31, 2023."That's why these types of investments are the priority in financing and implementing projects," the minister emphasized.According to Marcel Bolos, Ordinance No. 90 of 2023 was approved exactly in order to ensure a correct management of state budget allocations, its purpose being to ensure priority funding for EU-funded investment projects, as well as for those financed under the National Recovery and Resilience Plan."As such, we will use the Budget Reserve Fund mechanism until the end of the year and we will try to ensure full financing for these priority investment projects for Romania," the Finance minister said.
The Patriarch of the Romanian Orthodox Church, Daniel, congratulated Pope Leo XIV for succeeding Pope Francis on Thursday, May 8. He expressed confidence that the new pope will continue to promote "the spirit of dialogue, peace, and cooperation between the Roman Catholic Church and the Orthodox Church." "In a world facing multiple spiritual, economic, and […]
The organizers of the Untold festival announced they will offer a RON 150 (EUR 30) voucher toward the purchase of a festival pass to anyone who votes on May 18, during the second round of the presidential elections. In an online message, Untold representatives emphasized the connection between civic participation and the future of every […]
The Open Streets program, which sees the city's major arteries close for car traffic and become pedestrian areas, returns this weekend with a program of exhibitions, concerts, and a Festival of Lights. On Saturday, May 10, at 2:00 p.m., the public is invited to the Made in Romania exhibition, which presents a selection of civilian […]
Joseph Stiglitz, the famous economist and professor at Columbia University in New York, and winner of the Nobel Prize in economy in 2001, told an audience in Cluj, Romania, that governments must stimulate exports and key sectors when facing deficits. Stiglitz was in Romania on Thursday, May 8, to receive the title of Doctor Honoris […]
The Constitutional Court unanimously validated on Friday, May 9, the results of the first round of the presidential elections. It also rejected as unfounded a request to annul the elections filed by Sebastian-Constantin Popescu, the presidential candidate of the New Romania Party, it announced. The runoff, set for May 18, will see ultranationalist leader George […]
Bucharest's culinary scene welcomes back OLEA, the JW Marriott Bucharest Grand Hotel's celebrated Mediterranean destination, now reimagined with a fresh concept that blends authentic coastal flavours with contemporary sophistication. Following an extensive transformation, OLEA reopens its doors to offer guests a refined journey through the Mediterranean's sun-drenched culinary traditions, right in the heart of Romania's […]
