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.
While the number of employees paid the minimum wage in Romania is only 1.06 million (-3.6% y/y), accounting for 16% of the total number of labour contracts, the number of employees earning just above the minimum gross wage (RON 4,050 - 4,100 or around EUR 800) was 1.63 million, according to Ziarul Financiar, based on […]
The Social Democrat (PSD) mayor of District 4 in Bucharest, Daniel Baluta, is leading in the poll carried out by INSCOP for the [still unscheduled] mayoral elections in Bucharest. Another poll, carried out by CURS, confirms Baluta’s leading position. The race is, however, tight, and the centre-right parties coming up with a sole candidate might […]
Romania's Ministry of Energy invited investors to come up with more wind farm projects for another auction under the CfD (contract for difference) scheme, after it approved projects with an installed capacity of only 1.26 GW out of the planned 2 GW in the previous auction, according to Economica.net. Projects with sufficient maturity but...
Bucharest Stock Exchange (BVB) would join Moldova's largest bank, MAIB, and regional energy group Premier Energy, in setting up a stock exchange in Moldova where the license of the existing exchange is expiring, according to
Hidroelectrica, Romania’s largest energy producer, announced on August 23 that it has not announced, does not intend, and is not considering any increase in electricity supply prices. "The company maintains its commitment to having a fair and competitive offer for its customers and reaffirms that it is not considering any unilateral change in prices for […]
The Ministry of Environment has put into public debate the new financing guide for the Rabla Auto 2025 Program, which brings a drastic adjustment of the support for electric vehicles. The value of the subsidies (eco-voucher) for full-electric or hydrogen fuel cell vehicles (not marketed in Romania) will be only RON 18,500 (approximately EUR 3,500), […]
