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.
Romanian prime minister Ilie Bolojan stated during an interview on Wednesday, December 17, that there should be no statute of limitations in cases of serious corruption. The statement comes after a Recorder investigation, which showed that several heads of the major institutions in the Romanian justice system allegedly delayed trials for years until wrongdoings were […]
President Nicușor Dan has challenged, before the Constitutional Court (CCR), the constitutionality of the law that requires that at least 40% of the athletes who play on a team in official national competitions be Romanian. Dan noted that the law violates the principle of non-discrimination and the free movement of workers, enshrined both in the […]
Craiova International Airport will open its new passenger terminal on Thursday, December 18, completing a major infrastructure investment aimed at significantly expanding capacity and improving air connectivity in southwestern Romania. It is part of a broader expansion and modernization project financed through the Large Infrastructure Operational Programme (POIM) 2014–2020, with a total value exceeding EUR […]
Romania is set to be connected to the Western European energy network thanks to grid investments worth EUR 30 billion. The funds will be provided by the EU by 2035, and the project will link Romania to Hungary and Austria in a joint project. Romanian energy minister Bogdan Ivan signaled the signing of the new […]
Franck Bagouet has been appointed managing director of TotalEnergies Marketing Romania SA and managing director of Automotive Southeast Europe Hub TotalEnergies Marketing. He succeeds Didier Grimault, who has accepted a new position within the TotalEnergies company. “I am glad to join this dynamic affiliate and confident that, together with our talented team, we will reinforce […]
Databricks, the data analytics and artificial intelligence company co-founded by Romanian professors Ion Stoica and Matei Zaharia, announced on Tuesday, December 16, that it is raising USD 4 billion in funding at a valuation of USD 134 billion, according to CNBC. The new valuation represents a 34% increase compared to the August round, when Databricks […]
