The public administration debt (government debt) increased in September 2024 to 916.758 billion lei, from 886.983 billion lei in the previous month, according to data published by the Ministry of Finance (MF).As a percentage of the GDP, government debt rose to 54.4%, up from 52.7% in August (according to the report from the National Institute of Statistics on October 10, 2024).In the ninth month of the year, medium- and long-term debt increased to 859.9 billion lei, from 831.9 billion lei in August, while short-term debt rose to 56.858 billion lei, from 55.03 billion lei in the previous month.The largest portion of this debt, namely 774.83 billion lei, was represented by government bonds. Loans totaled 124.64 billion lei.The debt in the national currency stood at 435.754 billion lei, the debt in euro at 390.052 billion lei equivalent, and the debt in U.S. dollars at 89.8 billion lei equivalent.Additionally, central public administration debt reached 894.36 billion lei in September 2024, up from 864.74 billion lei in August, with 837.56 billion lei on medium and long-term debt. The majority of central government debt was contracted in lei (418.025 billion lei) and in euros (385.383 billion lei equivalent).The local public administration debt rose to 22.4 billion lei, from 22.23 billion lei in the previous month, with 22.34 billion lei on medium and long-term debt.At the same time, the domestic debt of the public administration in September 2024 was 442.792 billion lei, or 26.3% of the GDP (25.8% of GDP in August), of which 425.18 billion lei was the central government debt and 17.614 billion lei was the local government debt.According to MF data, the external debt of the public administration stood at 473.966 billion lei, or 28.1% of GDP (26.8% of the GDP in the previous month), of which 469.18 billion lei was the external debt of the central government and 4.785 billion lei was the external debt of the local public administration.
Romania’s green startup ecosystem is gaining more and more momentum, driven by a skilled workforce, reforms aligned with EU policies, and the climate emergency, according to a report prepared by Startarium and Impact Hub Bucharest. In 2024, there were over 2,300 startups in Romania, with a total estimated value of approximately EUR 19 billion. Romania […]
The global IT hub established by JTI in Romania has expanded from 140 employees at the beginning of the year to 170 currently, and is set to exceed 200 by the end of 2025. Located in Bucharest, the hub is one of JTI's six technology centers worldwide. The experts in Bucharest provide Digital and IT […]
French-born virtual reality esports center EVA VR has recently opened its Bucharest location, promising a realistic and immersive combat esports experience suitable for corporate team-building events, birthday parties, and various other events. Inaugurated on June 7, the new location is part of an international network, Esports Virtual Arenas, which was established roughly 5 years ago. […]
Investment group ROCA acquired a 20% minority stake in the Adrem energy group, following approval from the Romanian Competition Council. Announced on Tuesday, August 12, the transaction will support Adrem’s strategic development and scaling plans. The investments will be primarily directed towards the expansion and diversification of EPC (Engineering, Procurement, and Construction) projects, the development […]
Romanian students spend an average of 13 hours a week on homework, almost twice as much as their peers in Nordic countries, according to data from the OECD’s PISA 2022 study, quoted by ParentED. Finland ranks at the bottom in Europe with just six hours per week, while countries such as Switzerland, Denmark, and the […]
Three foreign citizens suspected of stealing jewelry and other goods during the Untold Festival in Cluj-Napoca were caught by Romanian police officers at the airport. The three, two men and one woman, all between the ages of 30 and 46, were detained while attempting to fly to Barcelona. Police from the Cluj-Napoca Criminal Investigations Bureau […]
