General government debt (general government debt) in March 2024 climbed to RON 845.098 billion from RON 841.292 billion in the previous month, according to data released by the Ministry of Finance (MoF). As a percentage of GDP, government debt increased to 51.9%, from 51.7% in January (GDP as per the National Institute of Statistics release dated June 7, 2024). In the third month of the year, medium- and long-term debt increased to MDL 795.023 billion from MDL 786.851 billion in February, while short-term debt fell to MDL 50.075 billion from MDL 54.441 billion in the previous month. The bulk of this debt, 695.566 billion lei, was government securities. Borrowing amounted to RON 113.692 billion. The debt in national currency was worth 382.502 billion lei, that in euro 355.513 billion lei equivalent, and the debt in American dollars at 84.147 billion equivalent lei.Central government debt had also reached RON 823.396 billion in March 2024, up from RON 820.105 billion in February, of which RON 773.353 billion was medium and long-term. Most of the central government debt was contracted in lei (RON 382.502 billion) and in euro (RON 355.513 billion equivalent). Local general government debt rose to RON 21.702 billion from RON 21.187 billion in the previous month, of which RON 21.669 billion medium and long-term. At the same time, general government domestic debt amounted to RON 411.076 billion (25.2% of GDP) in March 2024, of which RON 394.231 billion was central government debt and RON 16.845 billion local government debt. According to MF data, the general government external debt amounted to RON 434.021 billion (26.6% of GDP), of which RON 429.164 billion was central government external debt and RON 4.857 billion was local government external debt.
President Nicusor Dan signed on Thursday the decree appointing Prime Minister Ilie Bolojan as interim Vice Prime Minister on the areas coordinated by Dragos Anastasiu, the Presidential Administration informed.On 27 July, Dragos Anastasiu announced he was stepping down from the vice prime minister office, mentioning that he could no longer accept "being denigrated and thus […]
Prime Minister Ilie Bolojan continued consultations on Thursday with representatives of the Association of Communes of Romania, telling them there is a strong chance to overcome the current difficult period if the approach of "responsibility toward public funds" is maintained."The reform of local public administration will be part of the second package of government measures […]
Financing the National Recovery and Resilience Plan (PNRR) projects will continue for those already initiated and will stop only in case investment has not begun, where not a single euro was spent for construction, Development minister Cseke Attila explained on Thursday. “PNRR will not stop, neither will financing investments which have already been initiated, […]
The Justice Ministry announced on Thursday having developed in cooperation with the Finance Ministry and the National Tax Administration Agency a set of proposals to amend the Insolvency Law, which will be included in the second reform package.Some of the amendments provide for a higher recovery rate of the taxes and fees owed by insolvent […]
Romania is in the antechamber of recession, with the risk that its economy will decline in the third or fourth quarter, especially amid an increase in taxes, a significant drop in sales and record inflation at European level, says business consultant Adrian Negrescu."We are currently in the antechamber of recession. It is a moment […]
The Ministry of Culture announced on Thursday that is set to adapt national legislation for enforcing the European Media Freedom Act (EMFA), which supports media pluralism, editorial responsibility, protects journalists from abusive surveillance and intimidation, and provides protection for sources.According to a Culture Ministry release, the implementation in Romania of Regulation (EU) 2024/1083 of the […]
