Experts from the International Monetary Fund (IMF) are recommending modifications to the recently adopted pension law by the Government. According to government sources cited by Agerpres, the IMF estimates that the expenses resulting from the implementation of the new pension law will be approximately 0.5% of the GDP in 2024 and an additional 1% of the GDP starting in 2025. The IMF mission, following its visit to Romania, is preparing the final Article IV report on the financial situation of Romania, which will be presented to the board. In light of the new pension law, the report will include a paragraph emphasizing that “the projection presented in the report does not include the expenses resulting from the application of the new pension law, estimated at approximately 0.5% of GDP in 2024 and an additional 1% of GDP starting in 2025,” as stated by the source cited by Agerpres. Additionally, it will be mentioned that these additional expenses imply a deficit trajectory inconsistent with fiscal consolidation and achieving the 3% of GDP target. The cited source further highlighted that IMF representatives emphasize the need for the component of the law involving these expenses to be “reconsidered, or the implementation of the law in the proposed form to be reconsidered.” The controversial pension law project, approved by the Executive on Thursday, has sparked debates within the Coalition. According to the Minister of Labor, Simona Bucura Oprescu, 2024 will be the first year in which a government will grant two pension increases—one based on inflation plus 50% of the real increase in the average gross wage, and the other through recalculation. She stated on Thursday that the additional impact compared to the increase in the current law, with recalculation from September to December 2024, amounts to 10 billion lei.
Bitdefender, the global cybersecurity leader born in Romania, announced the extension of its multi-year partnership and collaboration agreement with Scuderia Ferrari HP, the Formula 1 racing division of Ferrari. Under the renewed agreement, Bitdefender will remain Ferrari’s exclusive global partner in the cybersecurity category and will...
Cluj-Napoca will build a center for the victims of domestic violence following an investment of EUR 5 million, mayor Emil Boc announced on October 20. The center will consist of an administrative building, with spaces for social, medical and psychological counseling, offices, kitchen, dining room and activity areas; and a building with 14 fully equipped […]
A total of 170 people will be laid off from the Bosch factory in Jucu, in Cluj county, Hacking Work reported. In Cluj, Bosch currently has approximately 3,300 employees at its production facility. The factory produces electronic control units for driving assistance, traffic safety and comfort, and improving the driving experience. “The development of Bosch’s […]
Kingswood Capital Management has signed an agreement to acquire the medical products manufacturer Drive DeVilbiss Healthcare from the private investment firm CD&R. Drive DeVilbiss has been present in Romania since 2005, with a factory in Bistrița, where the company produces its Ticco raised toilet seat, Delphi shower stools and Bellavita Nova bath lifts, according to
The National Agency for the Development of Health Infrastructure (ANDIS) and the Turkish group CCN signed the contract for the construction works on the Iași Regional Emergency Hospital on October 17. The value of the contract amounts to RON 1.69 billion (around EUR 340 million),
Egg producer Toneli has opened a breaker egg factory in Costeştii din Vale, in Dâmboviţa county, following a EUR 5 million investment. “Toneli has been active in this sector (e.n. breaker eggs) for four years, but we were outsourcing this service to a partner in Bulgaria. Now, we have built a factory from scratch,” Florin […]
