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Ilie Bolojan: No government will be able to avoid tax increases
Monday, June 16, 2025
The interim president of the PNL, Ilie Bolojan, declared on Friday, in a press conference dedicated to the budget crisis and the negotiations for the future government, that those who “promise magical solutions are false prophets”. He said that “unpopular but necessary” corrective measures must be taken, and for this, parliamentary support is needed. Bolojan said that he expects these discussions with the other parties to be concluded ...
Romania's balance-of-payments current account widens to EUR 10,103 million four months into 2025
Monday, June 16, 2025
In January - April 2025, Romania's balance-of-payments current account posted a deficit of EUR 10,103 million, compared with EUR 6,289 million in the same year-ago period, the National Bank of Romania (BNR) reported on Friday.The breakdown shows that the deficit on trade in goods widened by EUR 2,596 million, the surplus on services expanded by EUR 433 million, the primary income deficit increased by EUR 303 million, while the secondary income balance made a ...
AmCham: Romania can no longer afford to postpone difficult decisions
Monday, June 16, 2025
The delay in reaching a political agreement to form a stable government willing to assume the economic and fiscal measures Romania urgently needs increases concern within the business community, generates societal tensions, and sends negative signals to investors, financial partners, and rating agencies, AmCham Romania warned on Friday."On behalf of its over 600 member companies active across 32 sectors of the economy, AmCham Romania calls for ...
Foreign direct investments dropped by 12% over the first four months
Monday, June 16, 2025
Direct investments of the non-residents of Romania gathered, in the first four months of the year 1.99 billion euros, dropping by 12% against 2.27 billion euro in the similar period of lat year, informs the National Bank of Romania in a press release sent on Friday. 'Direct investments of non-residents in Romania gathered 1.99 billion euro (as compared to 2.27 billion euro in January - April 2024) of ...
BNR: Financial markets are already penalizing us; they will do so with greater intensity if we don't come with a solid plan
Monday, June 16, 2025
The financial markets are already penalising us and will do it with greater intensity if Romania does not quickly come u[ with a solid and credible plan to reduce the budget deficit, said Cristian Popa, member of the Board of Directors of the National Bank of Romania (BNR)on Friday. 'I had the curiosity to follow on Google Trends the interest of Romanians in the term 'deficit'.The results are ...
Romanians' demand for investment gold on the rise
Monday, June 16, 2025
Against the backdrop of the current economic and geopolitical turmoil, increasingly more Romanians are choosing gold as a form of capital protection, Rafinor - a company specializing in the trading and refining of gold and silver, said in a release.The situation in Romania reflects the reality of the global market where concerns about inflation, distrust in financial markets and geopolitical crises have reinforced the privileged position of gold as a safe ...
Eurostat:Romania among EU countries with highest increases in industrial production in April 2025
Monday, June 16, 2025
In April 2025, compared with March 2025, seasonally adjusted industrial production decreased in the EU, but Romania is among the member countries with the highest increases in industrial production on a monthly basis, according to data published on Friday by the European Statistical Office (Eurostat).According to Eurostat, in April 2025, compared with March 2025, seasonally adjusted industrial production decreased by 2.4% in the euro area and by 1.8% ...
Industrial production down 5.3pct four months into 2025
Monday, June 16, 2025
Industrial production decreased during the period January 1-April 30, 2025, compared to the same period last year, both in gross terms by 5.3% and in seasonally and working-day adjusted terms by 2.6%, according to data published Friday by the National Institute of Statistics (INS).The evolution of industrial production in the first four months (gross series) was influenced by declines across all three industrial sectors: manufacturing industry: -6.1%; mining ...
Employment rate of working-age population down to 62.7pct in Q1 2025
Monday, June 16, 2025
The employment rate of the working-age population (15-64 years old) was, in the first quarter of this year, 62.7%, down 0.3 percentage points compared to the fourth quarter of 2024, according to figures from the National Institute of Statistics (INS) published on Friday.In the first quarter of 2025, the employment rate of the population aged 20-64 was 68.7%, down compared to the previous quarter.In the same period, Romania's active population was ...
Average net salary in Romania decreases to RON 5,647 lei in April 2025
Monday, June 16, 2025
The average net salary in Romania was to RON 5,647 in April 2025, down RON 44 (-0.8%)compared to the March 2025, according to data published on Friday by the National Institute of Statistics (INS).The average gross salary was RON 9,415, down RON 80 (-0.8%) from the the previous month.The highest values of the average net salary were reported in extraction of crude oil and natural gas at RON 14,021, and in information technology services, ...
Average monthly pension in Romania up 20 pct in Q1, year-over-year
Monday, June 16, 2025
The average monthly pension and the average state social insurance pension increased in Q1 2025, year-over-year, by 20.6% and 22.7%, respectively, while the average number of pensioners fell to 4.9 million, according to data published on Friday by the National Institute of Statistics (INS).According to official statistics, the average monthly pension (calculated based on the gross amounts for all categories of pensioners - social security, disability, ...
MAE: Israel - high risk of imminent airstrikes from Iran
Friday, June 13, 2025
The Israeli authorities have issued a warning about a high risk of imminent airstrikes from Iran, urgently advising citizens to remain near shelter areas, the Ministry of Foreign Affairs (MAE) announced on Friday.The warning comes in the context of military operations launched by Israel during the night between Thursday and Friday against targets in Iranian territory, and the security situation has significantly deteriorated.Israeli airspace has ...
President Dan invites trade unions to talks on Monday
Friday, June 13, 2025
President Nicusor Dan has invited trade unions Cartel Alfa, the National Trade Union Bloc, CNSLR - Brotherhood, Meridian and the Confederation of Democratic Trade Unions of Romania (CSDR) to talks on Monday at the Cotroceni Presidential Palace, according to sources with the Presidential Administration.The Cartel ALFA National Trade Union Confederation protested on Thursday at Cotroceni, demanding a fair tax reform where the burden should be fairly ...
Romania’s coalition talks stall as minority cabinet without PSD emerges as an option
Friday, June 13, 2025
Talks to form a broad pro-Western governing coalition in Romania have stalled amid deep divisions over fiscal policy, raising the likelihood of a minority cabinet excluding the Social Democratic Party (PSD), https://www.intellinews.com/ ...
Senate: Developing crossborder infrastructure and administrative cooperation, joint Romania-Moldova priority
Friday, June 13, 2025
Improving the functioning of joint Romania-Moldova crossborder passages was one of the topics approached on Thursday by Senate chairman, Ilie Blojan, at the meeting with deputy prime minister and minister of Infrastructure and Regional Development of Moldiva, Vladimir Bolea, according to a Senate press release. According to the source mentioned, concrete measures to improve border activities by ...
Bulgarian ambassador: Bridge between Calarasi and Silistra would speed up European security forces' response
Friday, June 13, 2025
A bridge over the Danube linking the towns of Calarasi (Romania) and Silistra (Bulgaria) would help European security forces have a faster and better response on a larger scale in the event of crises, Bulgarian ambassador to Romania Radko Vlaykov told a conference on Romania's defense in the fourth year of war, the defense industry and the strengthening of Euro-Atlantic alliances, which took place in Bucharest and was ...
Fitch Warns: Deficit Cut and Debt Stability Crucial for Romania’s Rating
Friday, June 13, 2025
Prospects for reducing record-high deficits and stabilising rapidly rising public debt remain central to our Fitch Ratings assessment of Romania's sovereign rating following last month's presidential elections, according to Fitch reporting released on Thursday.After years of fiscal slippage and eroded fiscal policy credibility, the next government will face the complex challenge of undertaking a large, multi-year fiscal consolidation process amid modest ...
Treasury director general: Avoiding rating downgrade - a national objective
Friday, June 13, 2025
Avoiding a credit rating downgrade by major rating agencies is a national objective, said State Treasury Director General Stefan Nanu, stressing that the sovereign rating serves as a benchmark for all issuers in the market.'This is a very hot topic these days, and I'm glad it's receiving attention. I believe there is much greater awareness now of the harm that would result from a downgrade to non-investment grade. At the Ministry of Finance (MF), our role ...
Annual inflation rate climbs to 5.45pct in May
Friday, June 13, 2025
The annual inflation rate rose to 5.45% in May 2025, from 4.9% in April, as services rose by 7.09%, foodstuffs by 6.53% and non-food items by 4%, according to data published on Thursday by the National Institute of Statistics (INS)."The consumer price index was 100.46% in May 2025 against April 2025. The inflation rate since the beginning of the year (May 2025 compared to December 2024) was 2.6%. The annual inflation rate was 5.5% in May 2025 ...
Fresh fruit and train travel top list of price increases in May 2025
Friday, June 13, 2025
Fresh fruit, canned fruit, citrus fruits, and train transport are among the top price increases recorded in May 2025, compared to the same month last year, according to data published Thursday by the National Institute of Statistics (INS).Thus, fresh fruit was by 18.88% more expensive, fruit and canned fruit by 17.80%, citrus fruits and other southern fruits by 17.34%, and National Passenger Railway Transport Corporation CFR transport by ...