The state budget for next year is built on an economic growth of 3.4pct, an average annual inflation of 6pct and a deficit of 5pct of GDP, according to the Fiscal - Budgetary Strategy 2024 - 2026 published on Wednesday."Internal demand will be the main element through the investment component represented by the gross formation of fixed capital (+6.5pct), the effect of the development of some important public and private investment projects, simultaneously with an increase in final consumption, slightly below that of the product gross domestic product, respectively 3.3pct. On the supply side, construction will continue to be the most dynamic sector with an increase in VAB (Vertical Assembly Building) of 7.1pct, based mainly on the attraction and efficient use of European funds. The tertiary sector will have in turn, a positive contribution to the economic advance with an increase of 3.5pct. For the industry, a modest increase of the gross added value was foreseen, respectively of 1.2pct, in the conditions of maintaining an uncertain geopolitical context," the document states.The Gross Domestic Product is estimated at 1,733 billion RON at current prices, and the budget deficit at 5pct of GDP, under the conditions of revenues of over 586 billion RON and expenses of 673 billion RON. The share of total expenses in GDP is estimated at 38.8pct, and that of revenues at 33.8pct of GDP.The total number of unemployed is estimated at 215,000 people and the average net salary at 4,733 RON.
Romania’s acting minister of defence, Radu Miruță, has asked Parliament to grant prior approval for the signing of a framework agreement with Lockheed Martin for the training of F-16 flight personnel at the European F-16 Training Center (EFTC) hosted in Romania,
Former Social Democrat (PSD) transport minister Răzvan Cuc was detained by prosecutors from the National Anticorruption Directorate (DNA) on suspicion of complicity in bribery, the DNA announced on Tuesday, December 16. Cuc, a member of the Social Democratic Party who served as minister of transport in the governments led by Sorin Grindeanu (currently the leader […]
Regions across Romania will receive a financing boost as a result of a EUR 25 million loan that CEC Bank is receiving from the European Investment Bank (EIB). CEC Bank will channel the EIB credit into public-sector projects that promote sustainable economic development, particularly in Romanian regions where the shift to a greener industry is […]
Local authorities in Buzău aim to convert the nearby military airbase Boboc, 117 km northeast of Bucharest, into a secondary airport with dual military and civil use. The final decision will be based on Romania's security interests and requires multiple permits, the Ministry of Defence said, according to Adevarul.ro. ...
Romanians purchased RON 1.49 billion (nearly EUR 300 million) under the last Fidelis issue this year, organised by the Treasury in December, with over two-thirds of the money being placed in euro-denominated debt and more than one-third of the total being placed in long-term 10-year euro-denominated debt with a 6.2% coupon attached, according to data […]
Environment minister Diana Buzoianu announced that the ministry she leads has launched the procedures for a feasibility study aimed at planting 380 hectares of forest shelterbelts in southern Romania, a region increasingly affected by desertification. According to the announcement, the project would result in more than 126 kilometers of tree lines planted along national roads. […]
