The European Commissionaire for Budget, Valdis Dombrovskis announced on Friday in a press conference that the European executive will not propose the suspension of EU funds for Romania as a recognition of the fiscal measures taken by the Bolojan government to reduce the budget deficit. "We have provided the ECOFIN Council with the European Commission's assessment of effective action for the nine Member States subject to the Excessive Deficit Procedure. For Romania, we have acknowledged the significant fiscal measures adopted over the summer. Therefore, the Commission will not propose, at this stage, the suspension of EU funds under the macroeconomic conditionality procedure," Dombrovskis said, according to a European Commission press release. Romania is subject to the excessive deficit procedure and risks having its European funds suspended if it does not take swift action to reduce the record EU deficit caused by the Ciuca and Ciolacu governments. The first measures taken by the Bolojan government to reduce the deficit included cutting bonuses for public sector employees, increasing VAT by two points, and eliminating many exemptions from paying certain taxes and contributions.
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. […]
