The government paid in Q1 record interests of 8.6 billion lei, in the context where the public debt exploded last year, with a budgetary deficit of 102 billion lei, and the state continues with a very high deficit this year as well, which would reach from 80 billion lei to almost 83 billion lei following the budgetary adjustment, and makes plans for expenditure, such as the National Plan for Investments Anghel Saligny which would have a budget of 50 billion lei between 2021 – 2028, Profit.ro says. For the whole year, the expenditure with interests and commissions for the governmental public debt is estimated to 16.63 billion lei, a record sum. In the first six months of the previous year, the interests went up to 8.35 billion lei and for the whole year 2020 at 13.9 billion lei. The revenue of the budget for the first six months of this year was 176.38 billion lei, and the expenses 210.19 billion lei, with a deficit of 33.8 billion lei. According to the data published by the ministry of finances and quoted by Profit.ro, the level of state indebtedness was 49.5% of GDP in June, dropping slightly from 49.7% in May. The threshold of 50% was, probably, surpassed in July, month for which the ministry did not publish any data, after the state borrowed at the beginning of the month 3.5 billion euro (17.2 billion lei) from the foreign market. The fact that they used the foreign market is explained by the need to cover the necessary for financing in the context of months when they borrowed from the domestic market more.
The 2025 edition of the year’s first major film fest in Europe (and one of the biggest worldwide), the Berlin International Film Festival, took place between 13 and 23 February. My notes come with a bit of delay, as I was also hit by the festival flu that got so many of us sniffling and […]
In the absence of current negative influences, Romania’s economy could have an annual growth potential of 3-4%. Political instability and global geopolitical risks are dampening growth. Economic growth in 2024 was driven by wage increases and accelerating consumption, satisfied however largely through imports. Due to a decline in domestic economic competitiveness, net exports contributed negatively […]
The Bucharest Stock Exchange (BVB) announced on Thursday, March 13, the launch of a new financial education section on the BVB Research Hub platform, dedicated to retail investors. The capital market operator said that it started this project out of the need to increase the level of financial education and promote the investment culture. It […]
The Romanian governing coalition's presidential candidate, Crin Antonescu, announced on Thursday, March 13, that he is launching a podcast designed to popularize his candidacy before the May elections. Antonescu, who is backed by the alliance made up of the Liberals (PNL), Social Democrats (PSD), the Democratic Alliance of Hungarians (UDMR), and the minorities, stated that he will […]
Some 4,500 teachers will learn about rights and responsibilities online, accessibility, inclusion, online well-being, and ethics as part of Incubatorul Civic Digital (ICD - The Civic Digital Incubator), a digital citizenship and democratic culture project implemented by Institutul Intercultural Timișoara, Asociația TechSoup and Școala de Valori. The project, which offers free training, is aimed at […]
Mihaela Murariu, Attorney at Law at Grecu Partners Business Law Firm, analyzes the impact of Artificial Intelligence on personal data protection. Artificial intelligence (AI) has become a ubiquitous technology, used in more and more fields, from marketing and healthcare to recruitment and financial services. However, the widespread use of AI raises numerous questions about privacy […]
