Romanian Business News - ACTMedia

About 6 in 10 Romanians fear income will not keep pace with rising prices

Fri, 16 May 2025 00:00:00 +0300

About 6 in 10 Romanians fear that their incomes will not keep pace with price increases and that they will not be able to cope financially, according to an eJobs sociological survey released on Thursday.The second biggest fear is socio-political instability, mentioned in 42.2% of responses. 37.3% fear they will not be able to find a new job and 18.5% fear they will lose their emotional balance. Other aspects that generate anxiety in this period among Romanians are the prospect of losing their job, the impossibility to get out of the depressing state they find themselves in or the fact that they will not solve their personal problems."Most of the problems Romanians are facing these days are related to their professional life. Either they don't earn enough for the needs they have, or they have a job that doesn't offer them stability, or they have lost the job they had or, on the contrary, they work too much and have reached a point where they feel overwhelmed and exhausted. In fact, 50% of respondents say that 2025 is off to a bad start and that they have no hope that things will turn around by the end. Words such as 'uncertainty', 'worry' or 'loneliness' appear frequently in respondents' answers when asked about their current emotional state. Specifically, 45% feel a strong sense of uncertainty, 46.5% are worried about the future, 17.8% have lost their emotional balance, 17% are depressed, and 15% feel lonely. Only 15.1% are optimistic and 2.3% feel that they have finally found their equilibrium," Raluca Dumitra, head of Marketing at eJobs, the Romanian online recruitment platform, was quoted as saying in a press release.Only 26.4% say that, in the past year, they have felt the need for specialized psychological help or therapy. Of those who have felt this need, only 40% have taken the next step and sought counseling. 36.8% paid for this service out of their own resources, while 3.4% had therapy as a benefit offered by the company they worked for. The 60% who did not seek counseling, although they felt the need, justified their decision by the fact that it was too expensive a service they could not afford, that they did not feel comfortable discussing their problems with a stranger or that they feared that they might be judged by strangers.At the same time, 12.4% of those surveyed have psychological counseling on their list of perks. 51% do not have, but would like to, while 36.6% say they do not have, but would not use this perk if their employer implemented it. Also, less than a quarter of respondents believe that managers in the company they work for are genuinely interested in the emotional health of their employees.In relation to the stressors they experience at work, after the salary being too low for their current needs, most complain that they work too hard and are exhausted, that their employer does not accept remote work, that they have a tense or even conflicted relationship with their manager and that they fear they could lose their job.The survey was conducted in April 2025 on a sample of 1,974 respondents.

Ukrainian company to build motorway in Romania for €460m

Fri, 16 May 2025 00:00:00 +0300

Ukrainian road building company Avtomahistral-Pivden, in partnership with Romanian firm Precon Transilvania, has signed a contract with Romania's state-owned company CNAIR to construct the first section of a motorway connecting the cities of Arad and Oradea.The contract, worth €460 million, was signed in Bucharest, https://www.pravda.com.ua/ informs. It provides for the construction of the first 33.7-km section of the road, which is part of the Via Carpathia, a strategic European transport corridor that will connect the Baltic, Black and Mediterranean seas. This section involves the construction of 32 bridges, junctions and overpasses, featuring a 727-metre overpass over a railway line, along with two car parks equipped with electric vehicle charging stations. The works are scheduled to be completed within 24 months. Mykola Tymofieiev, CEO of Avtomahistral-Pivden, described the signing of the contract as a historic event, as it marks the first time a Ukrainian company will participate in a major infrastructure project in an EU country.

Q1 2025 GDP stagnates

Fri, 16 May 2025 00:00:00 +0300

The Gross Domestic Product (GDP) stagnated in the first quarter of this year compared to the previous quarter, and compared to the same quarter of 2024, GDP recorded an increase of 0.2%, according to data the National Institute of Statistics (INS) published on Thursday.According to INS, based on seasonally adjusted data, GDP did not change in Q1 2025 compared to the previous quarter, and compared to the same quarter in 2024, the economy grew by 0.5%."The seasonally adjusted series was recalculated by including the GDP estimate for Q1 2025, and volume indices were revised compared to the second provisional version of the GDP for Q4 2024, published in Press Release No. 88 on April 10, 2025. As follows: Q1 2024 compared to Q4 2023 was revised from 99.6% to 99.9%; Q2 2024 compared to Q1 2024 was revised from 100.4% to 100.3%; Q3 2024 compared to Q2 2024 was revised from 99.9% to 99.8%; Q4 2024 compared to Q3 2024 was revised from 100.6% to 100.5%; Seasonally adjusted series are recalculated quarterly in accordance with European practice," the INS mentions.The budget for the current year is built based on an estimated economic growth of 2.5%.

Global Witness: TikTok Pushes Far-Right Content in Romania 3x More

Fri, 16 May 2025 00:00:00 +0300

Just days before the second round of Romania’s presidential election, a new investigation by the international NGO Global Witness reveals that TikTok’s algorithm pushes users in Romania toward far-right political content at three times the rate of other political viewpoints. The study was conducted on May 7–8, 2025, in Bucharest, using three newly created TikTok accounts designed to be politically neutral, each following the official accounts of both presidential candidates: George Simion (far-right) and Nicusor Dan (center). Over a combined 30 minutes spent on the “For You” page, TikTok displayed 65 political posts. The findings showed: 74% promoted or favorably featured far-right figures or views. Only 26% reflected other political perspectives “The results were strikingly unbalanced. Regardless of how we set up the accounts, TikTok persistently and overwhelmingly recommended far-right content,” Global Witness said in a press release. The experiment was repeated three times, and the 3-to-1 ratio in favor of far-right content remained consistent in each run. This investigation was released shortly before the rescheduled second round of presidential elections, following the annulment of the original November 2024 vote. TikTok responded by rejecting the report’s conclusions, labeling the study “unscientific and misleading,” and arguing that the test users’ interactions do not reflect typical user behavior. However, the company emphasized its ongoing commitment to election integrity and its collaboration with EU authorities. Global Witness clarified that it does not claim TikTok’s algorithm was intentionally designed to promote the far right. Instead, it warns that provocative, viral content—often extremist in nature—is favored by engagement-optimized algorithms, which can unintentionally skew political discourse. “This algorithmic bias distorts the political landscape and risks undermining democratic election processes,” the NGO warned. A similar investigation in December 2024, following ultranationalist C?lin Georgescu’s surprise win in the first round of the canceled election, found that 73% of participants reported seeing Georgescu frequently in the two weeks leading up to the vote. “Using a politically neutral account, we found the TikTok ‘For You’ page showed over five times more pro-Georgescu content than that of his opponent,” Global Witness stated at the time. The NGO concluded that TikTok’s current measures fail to provide balanced exposure to politically neutral users and warned that other elections may also be at risk if stronger action is not taken. “Our findings suggest TikTok has not done enough to prevent its algorithm from disproportionately amplifying far-right content, potentially threatening the fairness of future elections,” the organization added. In December 2024, the European Commission launched a formal investigation into TikTok for potential electoral manipulation in Romania under the Digital Services Act (DSA), the EU law requiring platforms to assess and mitigate risks to electoral processes. Global Witness now urges the Commission to continue and deepen its inquiry, stressing that social platforms must be held accountable for the political consequences of their algorithmic design. Founded in 1993 in London, Global Witness is an international NGO specializing in investigations and campaigns related to environmental abuses and human rights.

Presidentials 2025/ Green Europeans will back Nicusor Dan in presidentials final

Fri, 16 May 2025 00:00:00 +0300

The European Green Party expressed their support for Nicusor Dan in the second round of presidential elections in Romania, to be held pm Sunday, a press release of the pan European party posted on its website europeangreens.eu shows. Romania is at a crossroad. The result of these elections will influence the role of the country in Europe in the years to come. George Simion, the far right candidate, would remove Romania from the European project and would undermine the support for Ukraine at a critical moment in regional security, according to EGP co-chairman Ciaran Cuffe. EGP co-chairman Vula Tsetsi said that the elections would define Romania's role in Europe for the next five years. The electors' demand for change can be understood but the answer is not the country's isolation and its getting closer to Russia. Young people should not pay the price for political disappointment. Despite the delay for Schengen accession, Europe remains the place where real progress is possible. Dan is the only candidate able to keep Romania strong in the heart of Europe, to defend democracy and protect the future, the representative of the European Greens added.

Nicusor Dan Leads in Latest IRSOP Poll, Positioned to Win Presidency

Fri, 16 May 2025 00:00:00 +0300

A recent nationwide poll conducted by IRSOP between May 10–13, 2025, reveals that Nicusor Dan is currently the leading candidate in Romania’s presidential race, showing a growing upward trend in support. The survey, which included 951 adult respondents across the country, indicates that Dan is likely to win if elections were held tomorrow. According to the poll, among likely voters—estimated to represent over 60% of the electorate—52% would vote for Nicusor Dan, while 48% support George Simion, leader of the nationalist AUR party. This margin, though narrow, reflects Dan’s steady momentum as the campaign intensifies. When asked about preferred leadership pairings, 51% of respondents said they would favor a tandem of Nicusor Dan as President and Ilie Bolojan as Prime Minister, compared to 42% who support George Simion alongside C?lin Georgescu. A small portion (7%) expressed indecision or disapproval of both options. The survey also measured public perceptions of the two candidates on several key governance issues: 59% believe Dan would collaborate more constructively with Parliament, compared to 25% for Simion. 54% say Dan would strengthen Romania’s ties with NATO and the EU, while only 31% believe Simion would do so. 52% expect Dan to increase Western trust in Romania, versus 37% for Simion. A plurality also believe Dan is more capable of managing the economic crisis (47%) and prioritizing anti-corruption policies (47%). Conversely, 61% believe George Simion would seek closer ties with Russia, compared to just 12% for Dan. The poll was conducted via telephone interviews with 951 adults aged 18 and over. The sampling margin of error is ±3.2% at a 95% confidence level. IRSOP, an independent research institute founded in 1990, fully funded the study. As the presidential race heats up, the IRSOP findings underscore a key divide in voter preferences between a pro-European, reformist vision represented by Nicusor Dan, and a nationalist, anti-establishment platform led by George Simion.

PresidentialElection2025/Voters expected to make final call on Sunday; almost 19k polling stations to open nationwide

Fri, 16 May 2025 00:00:00 +0300

Nearly 18 million voters are expected to go to the polls on Sunday to elect the president for the next five years, choosing between the two candidates who have reached the final round of the race for Cotroceni.Across the country, 18,979 polling stations have been organised, according to the Permanent Electoral Authority (AEP). In the capital, 1,289 stations will be open. Romanians eligible to vote from abroad will cast their ballots in 965 polling stations.According to the Central Electoral Bureau (BEC), the electoral operations for the second round of voting will take place in the same polling stations as in the first round. In well-justified cases, the locations of polling stations used for the second round of the presidential election may differ from those used in the first round, provided that accessibility and public notice are ensured at least three days before election day. If the location changes less than three days before election day, the change must be made public immediately.Romanian citizens who are at least 18 years old by election day are eligible to vote. Those who are legally incapacitated or under guardianship, as well as persons deprived of electoral rights by final court decision, are not allowed to vote.***On May 18, voters may cast their constitutional vote at one of the following polling stations:If the voter is located in the administrative area where they have their domicile or residence, they can only vote at the polling station assigned to the street or locality of their domicile or residence, according to the law. A voter with domicile or residence in Bucharest cannot vote in a different sector than the one in which they reside but may vote at any polling station in another county.If the voter is in a different administrative area than where they have their domicile or residence, they may vote at any polling station in that area.If the voter is abroad, they may vote at any polling station organised abroad.If the voter is a member of the electoral bureau, a computer operator at a polling station, or responsible for maintaining order, they vote at the station where they are performing their duties.If the voter has limited mobility, they may vote at any station that provides access to the voting process.***Voters cast their ballots using a valid identity document issued by the Romanian state on election day. These documents include: identity card; electronic identity card; provisional identity card; identity booklet; diplomatic passport; electronic diplomatic passport; service passport; electronic service passport; military service booklet (for students in military schools).Ordinary passports, electronic passports and temporary passports can be used to vote only by Romanian citizens voting abroad or those with a domicile abroad who are voting in Romania.The Central Electoral Bureau clarified the case of voters who hold electronic identity cards that no longer include printed information regarding their domicile. These voters will be added to the supplementary electoral list.According to Article II, point 6 of Government Emergency Ordinance No. 17/2025 amending Law No. 119/1996 on civil status documents and Government Emergency Ordinance No. 97/2005 on the evidence of domicile, residence and identity documents of Romanian citizens, the domicile address has been removed from the printed format of electronic ID cards."In the case of individuals voting with such electronic identity cards at polling stations where they are entered on the supplementary electoral list, the electoral bureau members cannot fill in the domicile section with verified official documents. In these cases, the president of the electoral bureau must contact the Technical Support Centre managed by the Special Telecommunications Service, which will redirect them to the Directorate General for Persons Records to provide the domicile information necessary for completing the supplementary electoral list," BEC points out.***In the country, voting takes place on Sunday between 7:00 AM and 9:00 PM. Voters who are inside the polling station or in line outside by 9:00 PM can vote until no later than 11:59 PM.At the polling station, voters present their ID to computer operators, who record and input their personal data into the Voting Presence Monitoring and Illegal Voting Prevention System (SIMPV).SIMPV flags whether: The person is under 18 years old by election day; The person has been prohibited from voting; The voter is assigned to the current polling station; The voter is assigned to another polling station; The voter is not listed on the permanent electoral roll; The voter has already voted in the same election; The voter has voted by mail and their vote has been received by the electoral office.Voters mark their choice in a closed booth by stamping "VOTED" inside the box containing the name of one of the two candidates. Voters who are unable to vote on their own due to valid reasons (as determined by the polling station president) may be assisted in the booth by a person of their choice - excluding accredited personnel, electoral bureau members, or candidates.After voting, the voter must place the ballot in the ballot box. The stamp used for voting must be returned to the polling station's president or designated bureau members.Attempting to vote more than once or without legal right is punishable under criminal law.Additionally, a voter who, due to illness or disability (proven by documentation), is unable to go to the polling station - known as a non-transportable voter - may request to vote using the mobile ballot box.***The final race for Cotroceni remains between two candidates from the original 11: George Simion (the Alliance for the Union of Romanians - AUR) and Nicusor Dan (independent).George Simion, AUR's candidate, received 3,862,761 votes (40.96%) in the first round of voting on May 4, followed by independent candidate Nicusor Dan, who received 1,979,767 votes (20.99%), according to final results announced by the Central Electoral Bureau.The total number of voters who participated in the first round was 9,571,899, representing 53.19% of all registered voters on the permanent electoral roll.

OMV Petrom opens Romania’s largest charging hub

Fri, 16 May 2025 00:00:00 +0300

Romanian oil and gas company, OMV Petrom, is adding 400-kilowatt (kW) high-power charging points for electric trucks to its network. Among these, the company now operates Romania’s largest electric charging hub, located at Miercurea Sibiului on the A1 motorway. It features a total of 34 fast-charging points, 17 in each direction, including 16 for electric cars and 18 for electric trucks. The passenger car chargers provide up to 300 kW, allowing a typical electric vehicle to charge fully in just 15 to 20 minutes, https://ceenergynews.com/ informs. The truck chargers offer a capacity of 400 kW and can fully charge an electric truck in 1.5 to 2 hours. The total installed charging power is 10 megawatts (MW), 5 MW per direction. “Our 2030 strategy includes the development of the largest EV charging network in Romania, as part of our commitment to support the decarbonisation of transportation,” said Radu C?pr?u, OMV Petrom Executive Board Member responsible for Refining and Marketing. “The A1 highway is one of Romania’s main commercial routes and part of the pan-European TEN-T corridor.” “With the hub at Miercurea Sibiului, we are offering transporters and drivers more than just a place to refuel, whether with conventional fuels or electricity,” said Adrian Nicolaescu, responsible for Retail Activities at OMV Petrom Marketing. “We are creating a space designed for comfort and convenience, where they can take a break, enjoy a coffee or snack, and shop. Our goal is to differentiate ourselves through the quality of our products and services, supported by the modern infrastructure we provide to our customers.” The stations and related facilities were developed under a concession agreement between OMV Petrom Marketing and the National Road Infrastructure Administration Company (CNAIR). OMV Petrom operates a network of around 780 filling stations under the Petrom and OMV brands in Romania, Moldova, Bulgaria and Serbia. The company has built a regional network of approximately 1,000 electric charging points and is targeting over 5,000 by 2030.

MOL Group reports profit increase of 23% in first quarter

Fri, 16 May 2025 00:00:00 +0300

MOL Group's profit before taxes reached $546 million in the first quarter of this year, down 23% compared to the same period in 2024, according to the company's financial results, published on Friday.According to the above, all segments of activity performed in a strong economic environment, contributing to the resilient performance of the MOL Group, despite a difficult macroeconomic context.Results from the Upstream segment increased by one-quarter the highest, supported by the increase of gas prices. Overall, Downstream segment results improved year on year, despite declining refining margins and the overall difficult business context."These negative factors were offset by pre-profit volume growth and own growth - in part by significant restructuring during the reference period - precum and never being able to use it. benefited from the recovery in oil volumes, continued to record losses, reflecting continued causing low refining margins for Brent has stabilized in the medium term over the medium term," according to the quoted source.The Consumer Services segment has registered continuous growth, driven by contributions from the fuel and non-fuel sectors, in a challenging macroeconomic climate."Fuel reserves have consolidated for parts of Romania and Croatia. Dynamics of non-fuel margins growth has warmed compared to the short year, with a trend towards the continuous recovery. extended, adding 1,341 units in the first quarter of 2025, marking a growth of 1% compared to the quarter and 6% compared to the previous year," the press release reads.On the other hand, the Circular Economy segment had a positive contribution to EBITDA in FY2025, determined by a major milestone."CAPEX continues to be strengthened by focusing on expanding Guarantee-Return (DRS) systems, with 4,800 operational locations currently, the number of returned battery packaging increased by approximately 10% 6.5 million units per day," according to the quoted source.Of late, progress has continued to be registered in this high-level infrastructure project, including the construction of the Komarom warehouse (which is under construction). tenders for projects to transform waste into energy are, of course, in an ongoing process.Midstream Gas EBITDA declined in the first quarter of 2025, amid robust cherry growth in transportation services, as the macroeconomic climate became more favourable.MOL Group is an international integrated oil, natural gas, petrochemical and retail company headquartered in Budapest, Hungary. They have been operating for 30 years, the dynamic for-profit organization has 24,000 employees worldwide and 100 years of experience in the industry. MOL Group controls three refineries and two petrochemical units at the integrated management level at the supply center in Hungary, Slovakia and Croatia. The company has, as a result, a network of approximately 2,400 service stations in 10 countries in Central and Southeast Europe.

Transelectrica posts net profit of 158 million RON in Q1 2025, up 58%

Fri, 16 May 2025 00:00:00 +0300

CNTEE Transelectrica SA recorded a net profit of 158 million RON in the first quarter of this year, up 58% compared to the same period of the previous year, according to a company report, sent to the BVB on Wednesday.The segment of activities with allowed profit recorded a positive result of 129 million RON in Q1 2025, compared to 109 million RON achieved in Q1 2024, under conditions in which operating income increased by 55 million RON, correlated with a smaller increase in expenses (including depreciation), respectively by 35 million RON.The increase in operating income (587 million RON as of March 31, 2025 compared to 532 million RON as of March 31, 2024) was mainly influenced by the increase in income from the regulated tariff, in the context of the increase in the tariffed quantity of energy (+2.6%), income from the allocation of interconnection capacity and income from ITC.Revenues from transportation and other revenues from the energy market recorded an increase of 70 million RON, respectively from 506 million RON in Q1 2024 to 576 million RON in Q1 2025, mainly influenced by the increase in the quantity of electricity and the tariff approved by ANRE, which led to an appreciation of revenues from the regulated tariff by 62 million RON (+15%) compared to the same period of the previous year.Revenues from the allocation of interconnection capacity also increased (+24 million RON), reaching 69 million RON in the period January - March 2025 (from 45 million RON in the same period in 2024), an increase influenced by the price formation model based on supply and demand. Implicit allocations, which simultaneously provide for capacity and energy, are strongly influenced by variations in the price of electricity on European exchanges, Transelectrica mentions in its report to the BVB.The 8% increase in operating expenses, including depreciation (458 million RON in Q1 2025 compared to 423 million RON in Q1 2024) was mainly influenced by the increase in system operating expenses, RET maintenance expenses, personnel expenses, and depreciation.The changes introduced by GEO 32/2024 led to a gradual exit from the support scheme and a return to competitive market mechanisms, Transelectrica specifies. As a result, starting with January 1, 2025, the energy necessary to cover CPT (own technological consumption, ed.) was purchased in a proportion of about 50% through bilateral contracts, at an average price higher than the similar period in 2024.The elimination of the centralized electricity purchasing mechanism (MACEE), increased consumption and low temperatures since February 2025, which led to increased imports in the context of lower hydro production, generated an increase in energy prices on short-term markets compared to the similar period in 2024.The zero-profit activities segment recorded a positive result, as of March 31, 2025, in the amount of 57 million RON, up by 39 million RON compared to the result of 18 million RON achieved in Q1 2024, under the conditions in which revenues/expenses on the balancing market were more than two times lower in Q1 2025 compared to Q1 2024.For the activity of system services/balancing capacity, according to ANRE regulations, the surplus/deficit of income compared to the recognized costs resulting from the performance of this activity is to be compensated by ex-post tariff correction (negative/positive correction) applied by ANRE in the tariff in the years following the one in which the respective surplus/deficit was recorded.In the first quarter of 2025, there was a slight decrease, by 0.5%, in net domestic consumption, and a 16% decrease in net energy production. In February 2025, electricity consumption at the SEN level registered an increase of approximately 6%, the other two months registering decreases, January approximately 2% and March approximately 4% respectively.Over the first quarter of 2025 as a whole, technological own consumption in the electricity transmission network decreased by 4.7% compared to the same period in 2024, especially as a result of more advantageous physical flows on the interconnection lines on the borders with Ukraine, Hungary and Moldova and more favorable weather conditions in the first two months, characterized by lower amounts of precipitation, which determined the reduction of corona losses.As Transmission and System Operator (TSO), Transelectrica ensures the safe operation of the National Power System (SEN) and the permanent improvement of the technological performance and adequacy of the Electricity Transmission Network (RET).CNTEE Transelectrica SA holds the position of natural monopoly on the Romanian electricity market, being the first company with majority state capital listed on the Bucharest Stock Exchange under the "A Strong Market - Capital Market Development" program. The company's main shareholder is the Romanian State, through the General Secretariat of the Government, with almost 58.7% of the shares.

Romania to participate in Book World Prague 2025 Fair

Fri, 16 May 2025 00:00:00 +0300

Romania participates May 15 through 18 with a stand in the 30th edition of the Book World Prague Fair, with playwright Elise Wilk, poet Adrian Alui Gheorghe and prose writer Adina Rosetti among the guests, the organizer of the stand, the Romanian Ministry of Culture announced on Wednesday.The moderation and translation of the events will be provided by ICR Prague through Libuse Valentova, Jitka Lukesova and Jarmila Horakova.At the invitation of the Connecting Emerging Literary Artists Project, authors Ioana Maria Stancescu and Dana Grigorcea will participate in a series of events at the fair.The award ceremony of the European Union Prize for Literature will take place on Friday, from 6:00 p.m. at the Bohemia pavilion; Romanian prose writer Bogdan Cretu is also shortlisted for this honor with his novel "Less Than Love", a book about the heavy-handed impact of totalitarianism on everything from love to family, but also a plea for memory.The Prague Children's Library is organizing two events on Saturday, at the association's headquarters: from 5:00 to 7:00 p.m. - "Children's Stories with... Adina Rosetti", and from 7:30 to 9:00 p.m. - "Literary Evening" with Dana Grigorcea.The partners of the Ministry of Culture in organizing the Romanian presence at this event are the Romanian Cultural Institute through the National Book Center, the Romanian Publishers Association and Diasporaciteste.eu.The Prague Book Fair is one of the most important events of its kind in Central Europe, also having a component dedicated to professionals in the field. The motto of this year's edition is "30! Energy of the Youth - Wisdom of Books!"

Romanian Ministry of Energy remains reliable partner for Republic of Moldova and Ukraine

Fri, 16 May 2025 00:00:00 +0300

Romania reaffirms its support for Ukraine and the Republic of Moldova and joins the European Union's effort to strengthen the energy resilience of the two countries, said the Secretary of State in the Ministry of Energy, Cristian Busoi.He participated, together with the advisor to the Minister of Energy, Adrian Vintila, in the Informal Meeting of Energy Ministers of the European Union, an event chaired by the Polish Presidency of the Council, which took place in Warsaw, on May 12-13, 2025.The two main topics on the agenda of the discussions at the Meeting were: the reconstruction of Ukraine's energy infrastructure and the winter preparation of the Republic of Moldova and Ukraine and increasing energy security through improved access to clean technologies.Cristian Busoi reconfirmed, during the formal and informal discussions, Romania's support for the Republic of Moldova and Ukraine."Romania reaffirms its support for Ukraine and the Republic of Moldova and joins the European Union's effort to strengthen the energy resilience of the two countries. The Minister of Energy, Sebastian Burduja, is an active and very effective supporter of the Republic of Moldova. The Romanian Ministry of Energy remains a reliable partner for both the Republic of Moldova and Ukraine. Together we will manage to guarantee energy security in the region," said Cristian Busoi.During the discussions on clean technologies and the region's energy future, organized at the Nuclear Alliance working meeting, Cristian Busoi recalled the need for NIP (the Commission's Nuclear Illustrative Program) to recognize the important contribution of nuclear energy in achieving the decarbonization objectives and guaranteeing the energy security of the European Union."We need investments, and here the role of the European Investment Bank and the support through the Modernization Fund for nuclear electricity production projects are essential", said the Secretary of State in the Ministry of Energy.Cristian Busoi argued that Romania is investing both in nuclear energy and in gas production in the Black Sea, as well as in energy production from renewable sources, promoting clean technologies.On the sidelines of the meeting, the Energy Ministry official participated in a working group with the European Commissioner for Energy, Dan Jorgensen, the Moldovan Minister of Energy, Dorin Junghietu, representatives of the Polish Presidency and European officials, which identified concrete and immediate support solutions for Moldova.He also met with the Ukrainian Minister of Energy, German Galushcenko, with whom he discussed the restoration of Ukraine's energy infrastructure and supporting the neighboring country in covering its energy needs for the coming period.

Burnete: In the next 2-3 years, EU funds are key; recession looms if we don't bring every euro into the country

Fri, 16 May 2025 00:00:00 +0300

The European funds are the key for the Romanian economy, for the next two or three years, existing the risk of recession unless every euro is absorbed, stated on Wednesday the executive manager of Concordia Employers’ Confederation, Radu Burnete, within a specialised event.'In the next two to three years, European funds are absolutely key for Romania's economy. Please believe me that if we don't bring every single euro into the country, recession is on our doorstep. You see how the economy is slowing down, we all know the deficit situation. In fact, we cannot afford that projects financed by European funds pass through the national budget or that we do not absorb money. I think this is the most important message I want to leave you with, especially as we are in the Romanian Parliament. There will be some stability here, even if we expect to see scenarios of government instability in the coming period. I believe that you have both the possibility and the obligation to make sure that you do everything you can to ensure that these funds continue to flow into Romania', said Mr Radu Burnete, at the round table on 'The challenges of the future Multiannual Financial Framework for the Romanian business environment'. He said that bureaucracy represents one of the issue for the absorption of European funds.'If we don't manage to absorb very much, what claims can we raise in 2027? Brussels will say: 'We can't give you any more. The European Commission is coming with some flexibility mechanisms, but we have to do our homework at home first. (...) I want to leave you with the essence of our message. The problem we have in Romania today, in terms of bureaucracy, is that we do not check the results. We want to check every hour worked, which is nonsense. We have to give some money, to make sure that it is not stolen, but that it is spent correctly, but to check that the contractor or the public administrator has done what he said he was going to do. Whether he did it in a hundred hours or in four hundred hours or however he did it is less relevant for Romania. We have to check the result and that is a very difficult change of mentality. Because it has to take place both at the audit authority and at the managing authority and intermediary bodies', added the executive director of the Concordia Employers' Confederation. In his opinion, if this change of philosophy does not take place, we will never be able to increase the absorption speed for the European funds.'I believe that you, senators and deputies, have the political weight to use in relation to these institutions and to give this message. My brothers, check the result, not every paper out there! There are many anti-fraud mechanisms. We have artificial intelligence. You can use the data it collects. And I think that's important. I'll give you two examples because we also happen to have administered a small project on European funds (...) We sign like crazy. I sign papers by hand, and then I have to sign them qualified. And when I sign them, I'm told: You see, put the qualified signature next to your name. It is madness - and I am only giving you this example because it is a small one, but it is the image of a mentality that has actually become part of the genetics of these institutions. We all know why it got there. Because we have a sad history with a lot of public funds, but we should not be self-sabotage. This is the main message I want to leave you with: we have extraordinary entrepreneurs in this country and companies that have shown that they can do sensational things with private money. Let's allocate them money, let's check that they do what they say they do, but otherwise let them find the best economic solution for what they have to do', added Mr Burnete. The event ‘ The challenges of the future Multiannual Financial Framework on the Romanian business environment’ is organized by the Commission for European Affairs in the Senate, in collaboration with the Concordia Employers’ Confederation and the Romanian Business Leaders.

Q1 current account deficit, up 80%, to EUR 7,656 million

Fri, 16 May 2025 00:00:00 +0300

In January - March 2025, the balance-of-payments current account posted a deficit of EUR 7,656 million, compared with EUR 4,201 million in the same year-ago period, according to the data the National Bank of Romania (BNR) published on Wednesday.The breakdown shows that the deficit on trade in goods widened by EUR 1,997 million, the surplus on services fell by EUR 503 million, the primary income deficit decreased by EUR 140 million, while the secondary income balance made a negative contribution of EUR 1,095 million.In January - March 2025, total external debt rose by EUR 514 million to EUR 205,407 million, of which: long-term external debt at end-March 2025 ran at EUR 156,881 million (76.4 percent of total external debt), up 1.2 percent against end-2024; short-term external debt at end-March 2025 amounted to EUR 48,526 million (23.6 percent of total external debt), down 2.7 percent from end-2024.Long-term external debt service ratio stood at 11.5 percent in January - March 2025 against 19.6 percent in 2024. At end-March 2025, goods and services import cover ran at 5.7 months, a level similar to that of 31 December 2024.At end-March 2025, the ratio of the National Bank of Romania's foreign exchange reserves to short-term external debt by remaining maturity came in at 101.4 percent, as against 99.1 percent at end-2024.

Draft regarding Romanian contribution to NATO Fund for Ukraine, in public debate

Fri, 16 May 2025 00:00:00 +0300

The draft government decision regarding the payment of Romania's voluntary contribution, in the amount of 33,025 dollars, to the voluntary Fund for the Comprehensive Assistance Package for Ukraine (NATO - Ukraine Comprehensive Assistance Package Trust Fund) is put up for public debate on the website of the Ministry of Foreign Affairs (MAE) until May 23.According to the regulatory act, participation is offered by redirecting the remaining unallocated amount related to Romania's contribution to the NATO Voluntary Fund for the Support of the Afghan National Army (ANA TF).The Comprehensive Assistance Package for Ukraine is a voluntary NATO fund, and Romania's contribution is made by redirecting the remaining unallocated amount related to Romania's contribution to the NATO Voluntary Fund for Supporting the Afghan National Army.The residual, unspent amounts will be directed to other voluntary NATO funds, depending on Romania's foreign policy and security interests.Suggestions and opinions of interested persons regarding this project subject to public debate are expected, until the mentioned deadline, at the e-mail address dps@mae.ro or at the postal address of the Ministry of Foreign Affairs: Aleea Modrogan, no. 14, sector 1, Bucharest, code 011822.

Chief of Defense Staff attending NATO Military Committee, EU Military Committee meetings in Brussels

Fri, 16 May 2025 00:00:00 +0300

Romanian Chief of Defense Staff, General Gheorghita Vlad participates in the NATO Military Committee and the European Union Military Committee meetings at Chiefs of Defence level taking place on Wednesday and Thursday, respectively, in Brussels, the Defense Ministry said in a release.The agenda of the talks includes topics of strategic interest, with an emphasis on cooperation, streamlining joint efforts and unitary responses to security challenges.On the sidelines of the meetings, the Romanian CoD will have several meetings with NATO and EU counterparts and officials.The Military Committee of the North Atlantic Treaty Organization is NATO's highest military authority. Meetings at Chiefs of Defense level are usually held twice a year at NATO headquarters in Brussels, and once in an Alliance member country. The Military Committee may also meet in various formats, such as within the Euro-Atlantic Partnership Council or for other, more specific situations.The European Union Military Committee (EUMC), the European Union's (EU) Common Security and Defence Policy body, is made up of the heads of defense of the member states, who, after the harmonization of national positions, propose courses of action to ensure European security, the cited source states. (Photo:https://www.nato.int/cps/en/natohq/photos_235081.htm)

Ilie Bolojan: PSD and PNL have responsibility to correct things that have accumulated wrongly

Fri, 16 May 2025 00:00:00 +0300

The Social Democratic Party (PSD) and the National Liberal Party (PNL) "have the responsibility to correct the things that have accumulated wrongly" in the governments they have endorsed, interim president Ilie Bolojan declared on Tuesday."The current situation of Romania is certainly also given by the way in which the parties that have governed until now have managed our country. The PSD and the PNL have a main responsibility for this situation and it is normal, from my point of view, that they try to correct the things that have accumulated wrongly, considering both the parliamentary capacity they have and the difficulty of forming a majority", he said on Antena 1 TV station.Bolojan detailed the current situation in Romania."If we are honest with ourselves and with the Romanians, we must recognize that the main element of difficulty for our country at the moment is the budgetary crisis we find ourselves in. This budgetary crisis comes from past years, it comes from decisions that were taken - for example, pension or salary increases, investments that were adopted by previous governments - we have a difficulty related to financing this deficit, because we have to take loans and we have a major difficulty related to maintaining Romania's rating in such a way that we can continue to take loans, to be a trustworthy country in which to invest", said Bolojan.He also discussed the prospect of a prime minister after the presidential elections."Immediately after these elections, because we have time pressure, a parliamentary majority needs to be formed to support a prime minister. The problem is not that you want to occupy a position, regardless of who that person is, but that there is a majority that supports a certain format and unfortunately this majority is not very easy to form, because the Romanian Parliament is politically fragmented. No party has a share greater than 23% and we are in a situation where in order to practically form a stable majority - because only such a government can get Romania through this difficult period that will follow - it must be formed from three or four parties in such a way that you have a stable majority. This is an important condition", said Bolojan, who underlined the importance of the support that the president of Romania gives to a candidate for the position of prime minister.The interim president emphasized the assumption of responsibility, including by the party he led - PNL."I strongly agree that both I and the party I represented until this interim period - have the responsibility, because it also contributed to this unpleasant situation in which Romania is, not to desert this front of responsibility and to participate in these negotiations - and I agree that we assume all responsibility in order to be part of a governing formula that will provide a stable Government. Not only the prime minister is important, a strong team is important, so that each party sends the best people it has, who will each do the maximum possible in their field under the given conditions", said Ilie Bolojan.

Aerostar posts over 21 mln lei in Q1 net profit

Fri, 16 May 2025 00:00:00 +0300

Aircraft maker Aerostar posted, in the first quarter of 2025, a net profit of 21.057 million lei, down 16.2% compared to that recorded in the similar period in 2024, according to the report submitted to the Bucharest Stock Exchange on Friday.Turnover amounted to 168.822 million lei (153.309 million lei in Q1 2024), and export sales to 146.834 million lei (127.989 million lei in Q1 2024).Aerostar's clients are located in Europe, Asia, Africa, the USA and Canada. In Europe, it provides maintenance services for civil aviation, aviation products (landing gear systems, mechanical parts, assemblies and subassemblies), electronic equipment and ground equipment. In Asia and Africa it provides civil aviation maintenance services and in Canada, aviation products.In Romania, the company provides repair services for military aircraft and repair of electronic parts and components for military aircraft, upgrades, integrations and maintenance for military aviation systems, repair services for systems and launchers and civil aviation products.In the first quarter of this year, Aerostar made capital expenditures worth 2.82 million lei. Of the value of investments in tangible assets, approximately 90% were made for the acquisition of technological equipment and installations for production programs, aircraft maintenance programs and for the maintenance of civil aircraft."The reporting period was marked by major economic turbulence, among which we mention the unpredictability of customs duties and the reorientation of defense policies of the world's states. The decisions taken by the world's organizations and states regarding the increase in defense budgets generated, at the state level, different orientations, but all converged towards increases in defense spending. In addition to all this, we witnessed the weakening of the dollar against the main international trading currencies. The Romanian leu also entered this monetary vortex, which registered a strengthening against the dollar with consequences on the company's result", the report states.It indicates that there was an 8.7% increase in the company's sales, with all three business lines of the company having approximately the same percentage contribution.However, operating income decreased compared to the same period last year, as a result of the change in the status of unfinished production stocks.A major influence on the net profit and its rate was the result of the financial activity, where a decrease in profit of 3 million lei was recorded, mainly due to exchange rate differences. Also, a small influence on the net profit rate was the expense of the profit tax, in this period the tax rate being higher compared to the same period last year.Aerostar's main business lines are: manufacturing of aeronautical products; maintenance of commercial aircraft; aerial and land systems for defense, production and integration.The main business lines, all in the aeronautics and defense field, aim to maintain the status of supplier in the field of aviation systems and land defense systems for the Romanian Ministry of National Defense and for other beneficiaries.The company has consolidated its position as a supplier for the globalized aviation industry, having an important footprint as a supplier of parts, aerostructures, hydraulic systems and landing gears, subassemblies and equipment for civil aviation.Aerostar is a regional center of excellence for commercial aircraft maintenance services, according to information on the BVB website.The company's main shareholders are IARIOM, with 71.5143% of the shares, and Evergent Investments, with 15.1394%.

As many as 28 Romanian companies to participate in Transport Logistic 2025 Munich, June 2-5

Fri, 16 May 2025 00:00:00 +0300

As many as 28 Romanian companies will participate in Transport Logistic 2025 Munich, June 2-5, the world's leading trade fair for logistics, mobility, IT, and supply chain management, and the largest in the 47-year history of this event, the German-Romanian Chamber of Commerce and Industry (AHK Romania) announced on Tuesday in a press release.According to the cited source, the space for visitors and exhibitors covers an area equivalent to 21 football pitches, reflecting the growing importance of the industry, which is becoming increasingly relevant on the world stage."For the participating companies, the participation in Transport Logistics 2025 is an important step in building sustainable international business relationships and in establishing Romania as a strategic hub in the heart of Europe," the press release states.AHK Romania is organizing, for the fourth time in a row, the Romanian Country Pavilion at the transport logistics 2025 trade fair. The Romanian stand will be located in Hall A4, Stand 215, with the exhibitors being exposed to an international audience, including professionals from various fields, interested in future collaborations in the Eastern European region.The 15 companies to exhibit their offer at the stand are Agexim, Air Sea Forwarders, Ascent Soft, BB Trans, CTP Romania, Devega, Elogistics Corporation, Orient, Oprean, Portul Constanta, Railport Arad, Rozoti, Sea Container Group, TTS (Trade Transport Services) and Transcom.In addition to the exhibitors at the joint stand, 13 other companies were interested in participating with individual stands, bringing the number of Romanian companies to 28. These are: Agrotrans Logistic C.A., Atlas Express & Logistic, CargoTrack Solutions, CGA Trans Experience, E-P Rail, Globemar Operations, Grup Feroviar Roman (GFR), Holleman Special Transport & Project Cargo, Hope Sped, Laguna Technology, PBN Logistics, Routier European Transport and Bipmobile.

TeraPlast group posts consolidated net profit worth 1.2 million lei in Q1

Fri, 16 May 2025 00:00:00 +0300

TeraPlast Group recorded a consolidated net profit of 1.2 million lei in the first quarter of this year, against a loss of 2.5 million lei in the same period in 2024, according to a press release sent on Tuesday.According to the same source, the group's turnover was 249.2 million lei in the first quarter, up 41% compared to 176.8 million lei in the same period in 2024.At the same time, EBITDA increased by 76%, reaching 21 million lei in the first quarter, from 11.9 million lei in the same period last year."Group representatives claim that this growth comes against the backdrop of a mix of strategic factors: the integration of recent acquisitions, operational efficiency and consolidation of the presence on foreign markets, but also due to the base effect."The double-digit increases in sales and profitability are the concrete result of strategic internationalization decisions. We are starting to show shareholders the effects of the operational efficiency measures implemented in the recent period and of the massive investments made in recent years. The uncertainty of these days validates our regional expansion strategy and we will continue to focus our efforts on growing the business and capitalizing on opportunities. As we have shown in the past, we have courage and rely on our accumulated experience, financial discipline and a carefully calibrated development plan," said Bogdan Craciunas, CFO of the TeraPlast Group, quoted in the press release.According to him, quantitative sales increased by 25%, from over 23,000 tonnes in the first quarter of 2024, to almost 30,000 tonnes in the first quarter of this year.At the same time, sales outside Romania represented 38% of the consolidated turnover, up from 17% in the first quarter of 2024. In absolute terms, these tripled, amid the Group's geographical expansion, from 31 million lei in the first quarter of 2024 to 95 million lei in the first quarter of 2025, which is in line with the strategy of internationalizing the group's sales and reducing dependence on a single market.The Group TeraPlast is the largest polymer processor in South-Eastern Europe. The group is composed of the companies TeraPlast, TeraGlass, TeraPlast Recycling, TeraBio Pack, Palplast Moldova, the companies of the Wolfgang Freiler Group (Austria and Hungary), Optiplast Croatia, the companies Aquatica Experience Group and Somplast. Since July 2, 2008, TeraPlast SA has been listed on the Bucharest Stock Exchange under the symbol TRP. The company's shares are included in the BET benchmark index of the Bucharest Stock Exchange, in the FTSE Russell Small Cap and Global All Cap indices and in the MSCI Frontier IMI indices.

Cristian Popa (BNR): Attracting foreign investment must remain a priority; there is no prosperity in isolationism or autarchy

Fri, 16 May 2025 00:00:00 +0300

A stable economic climate, less bureaucracy, no unnecessary barriers and easy access to foreign markets are essential factors for a free and prosperous economy, argues Cristian Popa, member of the Board of Directors of the National Bank of Romania (BNR), in an opinion article posted on LinkedIn.He specified that the present opinion belongs to the author and does not represent the position of the National Bank of Romania."Foreign investment is a vote of confidence from your international partners, and they always vote with their wallets. Attracting foreign investment must remain a priority, and Romania still has a lot to gain from maintaining a pro-foreign investment attitude. A stable economic climate, less bureaucracy, no unnecessary barriers and easy access to foreign markets are essential factors for a free and prosperous economy. It is not for nothing that business representatives always demand stability and predictability. Protectionism is not a solution, it is a problem," writes Cristian Popa, in the article titled "How does Romania become more prosperous?"At the same time, he emphasized that a direct comparison between companies with foreign direct investment (FDI over 10% of the capital) and those without foreign investment (including both private and state-owned) shows a pronounced discrepancy between companies with and without foreign capital in terms of the turnover generated annually, on average, by an employee. Thus, companies with FDI register 960,000 RON/employee, and non-FDI companies (including state-owned ones) 485,000 RON/employee.He also states that one employee in a company supported by foreign investment produced approximately as much as two employees in a firm without foreign capital. Part of the explanation is that FDI firms capitalize on economies of scale, benefit from superior access to capital, advanced technologies, more efficient management practices, and foreign markets, all of which ultimately translate into higher productivity."It is no coincidence that FDI companies pay significantly higher salaries, on average, by 80% (average gross monthly salary costs of RON 9,500 compared to RON 5,200 for non-FDI). In addition, foreign companies often benefit from intangible assets (trademarks, patents, high-performance IT systems, know-how) from the parent company, which increase efficiency and competitiveness, and probably also have easier access to export markets. In contrast, many local micro-enterprises operate with reduced capital and without state-of-the-art equipment, which limits productivity," Popa pointed out.According to him, the productivity gap between foreign direct investment (FDI) and non-FDI firms should not be seen as impossible to recover."There are Romanian success stories, companies that have managed to grow strongly through innovation, digitalization and integration into international economic chains. We also have Romanian companies that thrive outside the country, managing to successfully internationalize their activity. Economic openness must also be seen as an opportunity for local companies to learn, adapt and become more competitive. As local companies mature, our entire society benefits. To love your country means to want it to prosper. There is no prosperity in isolationism or autarky. Sovereignty without liberalism can only bring regression, the over 1.1 million Romanians working in multinationals should know better. For prosperity, efficiency, productivity, international cooperation and integration into European and global markets, capital and "Foreign investments also make Romania more prosperous," the BNR Board of Directors representative noted.In his opinion, another essential aspect is the workforce."FDI companies attract, but also train better-trained employees, which directly contributes to high productivity. It is a spiral: high salaries attract specialists, specialists support high performance and income, which allows for continued salary increases. In contrast, non-FDI companies, especially domestic SMEs, encounter difficulties in recruiting and retaining specialists. Although FDI companies are few in number (approximately 5% of all companies with non-zero turnover), they contribute over 40% to the total turnover of the economy and set a high standard of efficiency. Regardless of contrary opinions expressed in the public space, the reality is that the Romanian economy is driven mainly by the "engine" of large companies and/or with foreign capital. They make Romania more prosperous. Another major contrast "The data highlights a difference between the two categories: turnover per employee is almost double in FDI firms compared to non-FDI firms, but profit per employee is only marginally higher in non-FDI firms," the BNR Board of Directors representative emphasized.A possible explanation is that multinationals often work in industries with low margins and high volumes (retail, automotive, etc.). Moreover, multinationals frequently reinvest earnings in modernization and expansion, a fact highlighted even in the annual FDI reports of the NBR, a large part of the new FDI being, in fact, reinvested profits, argues Cristian Popa."To further develop Romania, economic openness must continue: foreign investments not only stimulate the productivity of the companies in which they are made, but also create spillover effects (the diffusion of knowledge and technologies to local companies), either through partnerships or direct competition," the BNR representative added.According to him, large companies and those with foreign capital do not obtain huge profits, as we often hear, but share the benefits of operational efficiency with employees, through higher salaries, with consumers, through competitive prices, but also with the state, by paying taxes."These companies stand out through high productivity, while microenterprises, exclusively Romanian companies and especially state-owned ones lag behind. These disparities are not accidental and indicate the existence of structural factors that influence the efficiency of companies. First of all, economies of scale, easier access to capital markets and the ability to invest in technology make the difference. Investments are essential for increasing productivity in the long term. Best management practices and efficient corporate governance are other key factors that differentiate high-performing companies. Their lack can lead to inefficient allocation of resources and delays in the adoption of innovations. In this sense, it seems that the presence of foreign capital is not only a source of financing, but also a vector of technological transfer," pointed out Cristian Popa.In his opinion, human capital is another fundamental determinant of productivity."A well-trained, educated, healthy and skilled workforce can use technology more efficiently and generate more added value. Innovation and digitalization also separate efficient companies from the less efficient ones. Romania is at the bottom of the ranking when it comes to innovation in the EU, mainly due to low investment in research and development (R&D), both in the public and private sectors. But innovation does not necessarily mean inventing a revolutionary product, we do not have to reinvent the wheel, it can also be process innovation (finding better methods of organizing production or the logistics chain)," the quoted source specified.Unfortunately, too much regulation and bureaucracy particularly affect small businesses. A dense and unpredictable legislative framework means unnecessary administrative costs, which disproportionately burden SMEs. Large and foreign companies have the resources to more easily overcome these challenges (dedicated teams or the ability to delegate the cost of compliance with bureaucracy), but small businesses waste valuable time and resources interacting with the state. An environment with more flexible regulations, debureaucratized, digitalized and with efficient institutions would allow businesses to realize their full potential, argues Cristian Popa."A strong education system remains essential for a productive and competitive workforce. Just as an efficient health system contributes to a longer working life and maximizing life expectancy, a quality education ensures well-trained human capital. Long-term productivity growth depends on the quality of the workforce, and here the education system can offer more," noted Cristian Popa.In conclusion, there are productivity differences between companies in Romania that can be explained by a combination of internal factors (size, management, invested capital, employee skills) and external factors (access to financing, regulations, investment climate), emphasizes the representative of the BNR Board of Directors."What cannot be explained is the perception of some that the refusal of foreign capital, economic isolation and the return to an idealized past would be a solution. That past never existed as it is glorified today, it was just a mirage, a convenient illusion that ignores the failures of the centralized economy. In the real, modern world, prosperity does not come from isolation, but from integration, cooperation and scaling. To love your country means to want it to be prosperous," explained Cristian Popa.According to him, the analysis presented reflects the economic value generated, on average, by each employee in an active company, providing an overview of the efficiency of different types of companies."The current analysis is based on official data for 2023 and tracks labor productivity in Romania through a simple, but, I believe, relevant indicator: turnover per employee (turnover/employee). This ratio reflects the economic value generated, on average, by each employee in an active company, providing an overview of the efficiency of different types of companies. And the differences are large and hard to ignore. To ensure a relevant comparison, only companies that achieved non-zero turnover were included, excluding inactive companies or those that did not report income," added Popa.He also mentioned that the report does not include PFAs or other similar forms of organization, nor public administration workers or those working for foreign companies outside the country."In the analysis, we also included salary costs, which reflect the total effort of companies to remunerate employees, including gross salaries, vouchers, bonuses and other benefits, reported to the number of employees. Of course, each company is different, and the average hides wide variations between sectors and individual companies. We know the example of Moisil, we know that the average hides a lot, but the purpose of this analysis is to provide a general perspective on how different types of companies contribute to the well-being of society. Another relevant detail is that, out of all companies in Romania, approximately 170,000 companies declared a turnover of 0. The current analysis focuses strictly on companies that generated income in 2023 and is based on the official figures declared to the tax authority, without including the possible gray economy," Cristian Popa explained.

EBRD revises downwards to 1.6% estimates regarding growth of Romanian economy this year

Fri, 16 May 2025 00:00:00 +0300

The European Bank for Reconstruction and Development (EBRD) has slightly revised downward its estimates regarding the evolution of the Romanian economy in 2025, but maintained its forecasts for 2026, according to the "Regional Economic Prospects" report, published on Tuesday by the international financial institution.According to the latest EBRD forecasts, Romania's GDP is expected to grow by 1.6% this year, 0.2 percentage points less than the 1.8% estimate advanced in February, and an advance of 2.4% in 2026."Romanian economic growth slowed significantly to 0.8% in 2024. Private consumption registered a solid advance, following the increase in real wages by 8%, which led to a deepening of the trade deficit. Consumption shows signs of moderation at the beginning of 2025. Investments decreased significantly, especially in the last quarter, following the slowdown in the absorption of European funds. Regarding supply, the slowdown was broad-based, with industry, services and construction registering considerable declines, while agriculture was severely affected by the drought," the report says.The international financial institution draws attention to the fact that "the fiscal situation remains difficult, and the planned fiscal consolidation this year will likely require additional measures, due to the worse-than-expected development in 2024. Despite a slight moderation, inflation remains high, close to 5%, requiring a tightening of monetary policy by the BNR."According to the EBRD, the Romanian economy has limited exposure to the US economy, but has a considerable level of integration into global automotive supply chains, which represents a vulnerability."Against the backdrop of reduced consumption and the difficult fiscal situation, forecasts regarding the evolution of the Romanian economy in 2025 have been revised downwards to 1.6%. In 2026, the growth rate will return close to potential, to 2.4%, assuming that there will be an acceleration in the absorption of European funds," the report states.The EBRD is a major institutional investor in Romania, and to date the organization has invested almost EUR 11.5 billion in 550 projects. A significant share of its financing supports private sector development, sustainability and innovation.

Annual inflation rate stagnates at 4.9 pct in April, most significant price increases, services sector

Fri, 16 May 2025 00:00:00 +0300

The annual inflation rate stagnated in April at 4.9%, and the most significant price increases, 6.83%, were recorded in the services sector, followed by rises in foodstuff prices by 5.57% and in non-food prices by 3.53%, shows data published on Tuesday by the National Institute of Statistics (INS).By categories, the services sector recorded the most significant price increases: the interurban transport has become the most expensive in the last year, with an increase in fares of 16.92%, followed by hygiene and cosmetics - with a 13.8% price increase and water, sewerage, sanitation - plus 12.36%. Telephone services registered price decreases of 4.75%.In the foodstuffs sector, in the last year, the products to see the highest price increases were fresh fruit, of 12.28%, edible oil - 9.93% and cocoa and coffee - 9.26%. Price decreases were posted for sugar - 6% and potatoes - 4.38%.As regards non-food goods, thermal energy prices have increased by 13.63% (April 2025 compared to April 2024), prices of books, newspapers and magazines by 7.28% and prices of knitwear by 7.22%. On the other hand, gas has become cheaper, with prices lower by 3.67%, while fuel prices have decreased by 0.18%.The National Bank of Romania (BNR) has revised upwards its inflation forecast for the end of 2025 to 3.8% from 3.5% previously and expects it to reach 3.1% by the end of 2026, according to data presented in February by BNR governor Mugur Isarescu.

Presidentials 2025/ AEP presents situation of valid electors number for second round of elections

Fri, 16 May 2025 00:00:00 +0300

The Permanent Election Authority (AEP) announced on Tuesday the situation of the valid number of electors for the second round of presidential elections. According to the AEP press release, the total number of electors included on the permanent lists is 17,988,218 citizens. The total number of Romanian citizens living abroad, with voting right in those elections is 1,016,327 persons. 6,085 citizens chose to vote on the website www.votstrainatate.ro and were included on permanent election lists abroad, while 2,235 citizens chose to vote at polling stations abroad. At the same time, 20,326 citizens are not allowed to vote. AEP points out that the Elction Register was updated by data imported from the General Department for People's Evidence and from the General Passport Department, as well as by cancellations of registration at mayoralties. According to law 208/2015, with further amendments, the Election Register is a national registration and updating data system identifying Romanian citizens with voting right and data about their distribution to polling stations.The election register is organized for counties, municipalities, towns, communes, for Romanian citizens living in Romania. People authorized to perform operations in the Election Register, including Romanian citizens living in the country are mayors or people appointed by mayors, by decision, according to the law.

Agriculture: Romania contributes 23pct of the agricultural workforce in the EU

Fri, 16 May 2025 00:00:00 +0300

Romania is one of the most important countries in the European agricultural sector, considering that 23% of the total agricultural workforce in the EU, 1.77 million jobs, is concentrated here - the largest share in the Union, according to a recently launched profile report.Romania owns approximately a third of all farms in the EU, although 90% of them are under five hectares, meaning they are subsistence farms. Impact Hub Bucharest (EIT Food representative in Romania), in partnership with Startarium, launched the fourth edition of the report on Romanian AgriFood startups, which provides a comprehensive analysis of the ecosystem: "Romanian AgriFood Startups Overview Report 2024."The initiative is part of the series of preparatory events within the Empowering Women in Agrifood (EWA), dedicated to female entrepreneurs and projects created by them in the agrifood field. Empowering Women in Agrifood is an accelerator programme developed by EIT Food, the world's largest food innovation community. EIT Food is supported by the European Institute of Innovation and Technology (EIT), a body of the European Union.According to the same report, agriculture continues to be a key sector for both the Romanian and European Union economies, despite a constantly decreasing contribution to GDP and an increasingly low profitability.The research shows that Romania is one of the most important countries in the European agricultural sector, considering that 23% of the total agricultural workforce in the EU is concentrated here (1.77 million jobs - the highest share in the Union). Also, 44.3% of farmers are over 65 years old, which highlights an acute problem regarding the aging of the workforce. An interesting fact revealed in the analysis is the percentage of women working in agriculture in Romania, 19% in 2021, the highest in the EU, the abovementioned document states.In 2023, when the available data was collected, there were 73 FoodTech and AgriTech startups in Romania. During 2018-2023, there were 18 rounds of financing attracted, of which 14 million euros for the FoodTech sector and four rounds worth 1.6 million euros for the AgriTech sector.In addition, according to the report, the level of digitalisation in Romanian farms is low, although the use of advanced technologies such as sensors, drones, satellite imaging or artificial intelligence would significantly increase the profitability of the sector.

Infrastructure: Romania and Moldova agree cross-border rail co-operation

Fri, 16 May 2025 00:00:00 +0300

The national railways of Romania and Moldova have signed a memorandum of understanding for cross-border co-operation which includes reopening of the Falciu – Prut (Cantemir) railway, electrification of the Iasi – Chisinau line, modernisation of customs facilities at Ungheni and the resumption of Cahul – Galati passenger services, https://www.railwaygazette.com/ informs. The international bridge over the River Prut at Falciu closed in 1992, but the Zorleni – Falciu – Moldovan border line on the Romanian side was reopened in March 2022 to support the transport of Ukrainian refugees. In January 2025 a ministerial meeting organised by the European Commission’s DG Move decided to completely rebuild the railway in the cross-border area. Rehabilitation works are under way on the bridge, and on the Moldovan side CFM will rehabilitate the 1·8 km of line to Prut station by August this year. (Photo: Facebook CFR Infrastructura Iasi)

Cars: APIA: Romania's registrations of all-electric cars drop 70 pct in April

Fri, 16 May 2025 00:00:00 +0300

Romania's new car registrations were 24% down in April 2025 from the year-ago period, while all-electric cars saw a 70% decrease and a market share of 2.2%, shows data provided by the Driving Licences and Vehicle Registration Directorate General (DGPCI) processed by the Association of Automobile Manufacturers and Importers (APIA).Registrations of passenger cars, which represent approximately 83% of the total market, stood at 9,910 units in the reporting interval.The SUV category accounts for the largest market share at 53.9%, down 14.8% compared to April last year, followed by Class C vehicles with a share of 25.7% (-36.2%) and Class B vehicles with a share of 14.1% (-22.4%).By the fuel used, gasoline-powered cars dropped 44.3% to a share of 24.8%, while diesel engines decreased by 26.1% to a share of 9.5%.Cars equipped with mild-hybrid engines reported a 10% rise in registrations to a share of 28.8% of the total market.On the other hand, electrified vehicles, specifically battery electric vehicles and plug-in hybrid electric vehicles, as well as mild-hybrid and full hybrid cars (that don't need to be plugged in to charge) - were accounting for a market share of 54.9%.Fully electric cars held a 2.2% market share this April, compared to 5.5% in April 2024, while plug-in hybrids accounted for 5.4% of the market (compared to 3.3% in April 2024).In the first four months of 2025, the top three best-selling fully electric cars were: Dacia Spring - with 1,022 units and a decrease of 31.4% year-on-year, Tesla Model 3 with 175 units, and Leapmotor T03 with 134 units.In the plug-in car segment, the top three spots are held by Ford Kuga with 199 units, Volkswagen Golf (177 units) and Mercedes Benz GLC (130).In the category of hybrid cars that do not need recharging from external sources Dacia Duster holds the lead with 1,124 units, followed by Toyota Corolla with 995 units and Toyota RAV4 with 932 units.There was a 31.6% decrease in April's registrations of light commercial vehicles and minibuses compared to April 2024, of which light commercial vehicles - minibuses excluded - saw a drop of 33%. On the other hand, sales of electric light commercial vehicles reached 281 units in the first four months of this year, compared to 230 units in the same period last year.At the same time, registrations of heavy commercial vehicles and buses fell 33.4% in April 2025 vs April 2024, with 16+ tonne heavy commercial vehicles and tractors recording a setback of 24%.APIA is a non-profit organization representative for the Romanian automotive industry, founded in 1994, and a member of the International Organization of Motor Vehicle Manufacturers since 1996.

Tourism: Tourist arrivals in accomodation units on the rise in Q1 2025 in Romania

Fri, 16 May 2025 00:00:00 +0300

Tourist arrivals in accommodation units (including apartments and rooms for rent) increased by 1% in the first three months of this year compared to the same period in 2024, while overnight stays increased by 2.2%, according to data published on Thursday by the National Institute of Statistics (INS).According to the official statistics, between January 1 and March 31, 2025, 2.496 million people arrived in tourist accommodation units in Romania, of which 82.5% were Romanian tourists, and 17.5% were foreign tourists.Also, 4.773 million overnight stays were recorded, up 2.2% compared to the first three months of the previous year, of which tourists represented 79.9%, while foreign tourist overnight stays accounted for 20.1% of the total.In the reference period, the average length of stay was 1.9 days for Romanian tourists, and 2.2 days for foreign tourists, respectively.According to the same source, the net occupancy rate of tourist accommodation units, reported for the period January - March 2025, stood at 23.3% of total tourist accommodation units (including apartments and rooms for rent), up 0.3 percentage points compared to the first quarter of the previous year.By county, during the same period, the number of tourist arrivals in tourist accommodation units (including apartments and rooms for rent) recorded higher values in: Bucharest Municipality (435,000 people), Brasov (335,400) and Prahova (134,100). At the same time, overnight stays recorded higher values in: Bucharest Municipality (890,300 people), Brasov (634,400) and Prahova (264,300).By country, most arrivals of foreign tourists accommodated in tourist units in Romania came from: Italy (50,600 people), Germany (36,300) and the United Kingdom (34,500).INS data reveal that, in March 2025, arrivals registered in tourist accommodation units (including apartments and rooms for rent) amounted to 831,800 people, down 2.7% compared to the same period last year. Of the total number of arrivals, Romanian tourist arrivals represented 79.9%, and foreign tourist arrivals accounted for 20.1%.At the same time, overnight stays stood at 1.574 million, down 1.7% year-on-year, with the highest share among Romanian tourists (77.1%).In March this year, the average length of stay was 1.8 days for Romanian tourists and 2.2 days for foreign tourists, and the net occupancy rate of tourist accommodation units stood at 22.5% of the total tourist accommodation units (including apartments and rooms for rent), down 0.4 percentage points compared to March 2024.INS specifies that, after Romania's accession to the Schengen Area, on January 1, 2025, starting with January of this year, information regarding the arrivals of foreign visitors to Romania and the departures of Romanian visitors abroad are no longer comparable and will no longer be published.

Natural increase of population remains negative in March

Fri, 16 May 2025 00:00:00 +0300

The natural increase of the Romanian population continued to be negative in March 2025, with a minus of 11,150 people, an increase compared to March 2024, when the negative increase was 8,982 people, according to data published on Monday by the National Institute of Statistics (INS).According to official statistics, in the reference period, the number of birth certificates for live births decreased by 0.5%, while the number of death certificates increased by 10.9%, and that for children under one year of age who died was 16 higher.In March 2025, 10,560 people died in urban areas (5,390 men and 5,170 women), and 11,010 people died in rural areas (5,669 men and 5,341 women). The number of death certificates registered was 21,570, an increase of 4.5% compared to the previous month (+4.2% men and +4.8% women).According to the same source, compared to the same month in 2024, the number of registered deaths increased by 9.5% in urban areas (+7.6% for men and +11.4% for women) and by 12.3% in rural areas (+9.7% for men and +15.3% for women).INS data also reveal that, at a comparative level between March and February 2025, birth certificates for 10,420 children were recorded, an increase of 334 (+3.3%). At the same time, the number of death certificates registered for children under one year of age was 83, in the analyzed interval, an increase of 20.In March this year, 42% of the total number of deaths was recorded in people aged 80 and over, 27.4% in those aged 70-79, and 17% in people aged 60-69. At the opposite pole, the fewest deaths were registered in the age groups 0-4 years (98), 5-19 years (49) and 20-29 years (78).In terms of marriage and divorce, in March 2025, 4,441 marriages were recorded at civil status offices, while the number of divorces pronounced by final court decisions and by the agreement of the spouses (administratively or through notarial procedure) was 1,652.

Survey: Investors fear instability amid depreciation of RON and Romanian stocks

Fri, 16 May 2025 00:00:00 +0300

Investors fear instability amid the depreciation of the RON and Romanian stocks, given that it is unclear what direction Romania will take after the elections and how this will influence the economy, which is also facing the largest budget deficit in the EU, according to an analysis conducted by eToro analyst Bogdan Maioreanu."The uncertainty generated by Sunday's presidential elections is deeply influencing the Bucharest Stock Exchange, the EUR/RON exchange rate and interest rates. The BET index lost 3.8% in a week, currently standing at -1.42% compared to the beginning of the year. After oscillating around 4.97 for most of the last two years, the EUR-RON exchange rate quoted by the National Bank of Romania rose last Thursday to a maximum of 5.12, to correct slightly on Friday, to 5.11. The three-month ROBOR interest rate rose massively last week, from 5.9% to 7.31%. A higher interest rate and a higher exchange rate may, at least in the short term, increase annual inflation, which currently stands at 4.9%, already the highest in the EU. For investors, it is unclear what direction Romania will take after the elections and how this will affect the economy, which also faces the largest budget deficit in the EU. In 2024, it was 9.3% of GDP, much higher than the next highest, Poland, at 6.6%, and almost three times higher than the EU average of 3.2%. The outcome of these elections could bring clarifications, but also some changes and a possible political crisis whose effects are extremely unpredictable," the said analysis reveals.These fluctuations in the exchange rate and interest rates are taking place against a backdrop of low investor confidence in the Romanian economy. This is a reality highlighted by the eToro Retail Investors Beat survey in all studies conducted over the past two years. At the end of March, when asked how confident they were in the state of the local economy, 66% of Romanian individual investors responded that they were not confident.According to the analysis, since 2023 and until now, the proportion of those who declare themselves confident in the Romanian economy has never exceeded 38%. When asked the same question regarding the global economy, 55% of Romanian investors expressed distrust. Despite this situation, 77% of them are confident in their job security, and 68% are confident in their income and standard of living.Regarding their portfolios, 81% of the Romanian investors surveyed are confident in their investment choices. The global situation has created some changes in the exposure of their assets. If at the end of last year 58% of investors had exposure to Europe, at the end of March this year this percentage increased to 68%. At the same time, exposure to the US market decreased from 37% to 35%, and that to China from 6% to 5%.As to external risks for portfolios, a possible global economic recession is the main concern of Romanian individual investors. Approximately 26% of respondents consider this to be the main external risk to their investments, followed by inflation (23%) and the Romanian economy (18%). While the percentage of investors concerned about the state of the global economy remained unchanged compared to the previous quarter, that of investors concerned about inflation decreased from 25% in the fourth quarter to 23% in the first quarter of this year. At the same time, the percentage of investors who consider international conflicts as the main risk to their portfolio increased from 14% to 16%.The analysis also notes that half of Romanian retail investors hold local stocks, 36% hold foreign stocks, 53% hold some form of crypto assets, while almost three-quarters have cash, including savings accounts, in their portfolios, according to the latest eToro Retail Investors Beat survey. The current situation in Romania, but also globally, could bring unforeseen events to financial markets, but also opportunities for investors. Although there are no guarantees for future behavior and results, history has shown that, regardless of the color of the "swan", global stock markets have found the strength to recover.The latest edition of Retail Investor Beat was based on a survey conducted among 10,000 retail investors from 12 countries and 3 continents. The following countries had 1,000 respondents: the UK, US, Germany, France, Australia, Italy and Spain. The following countries had 600 respondents: the Netherlands, Denmark, Poland, Romania and the Czech Republic.The survey was conducted between February 18 and March 4, 2025 by research company Opinium.eToro is a trading and investment platform founded in 2007.

Romania mainly imports between 20% and 70% of defence industry components from the EU and the US

Fri, 16 May 2025 00:00:00 +0300

The share of imported parts used in the defence industry of Romania may vary between 20% and 70% being acquired from member states of the EU and third states, such as the US, said the ministry of economy, digitalization, entrepreneurship and tourism (MEDAT) in an answer to a request of Agerpres.'In order to strengthen operational capabilities and to align with international technological standards, significant investments have been made in recent years in the infrastructure of the national defence industry. These investments have focused on the modernisation of production facilities, the acquisition of advanced equipment, as well as the adaptation of manufacturing processes to the specific requirements of the Euro-Atlantic defence market. However, a considerable part of the components used in the manufacturing process of defence products are of foreign origin', the ministry points out. Without giving any details referring to the naming of the economic operators or the specific nature of imported parts, MEDAT mentions that due to the level of industrial integration and the technological specific of each entity in the defence industry, the share of imported parts may vary between 20% and 70%.These parts are, mainly, acquired from EU member states and third states, such as the US.According to the quoted source, Romania imports parts destined to the defence sector mainly from authorized economic operators from states with tradition and advanced industrial capacity in the domain of defence, such as:France, Israel, the UK, Germany, Poland, Austria, Italy and the US.Imports are made in accordance with national and European regulations regarding the control of exports for products with double use and those sensible from a strategic point of view. MEDAT also emphasises that, at present, there are also economic operators in the national territory that have developed fully integrated production capacities, not resorting to the import of components, but only, on an ad hoc basis, to the purchase of raw materials or auxiliary materials from other EU Member States. 'In the event of a worsening of the international trade climate, the affected operators may analyse alternative solutions to redirect supply flows to other accredited suppliers in partner countries. Among the viable options are France, Germany, Poland, Israel, the United Kingdom and other EU Member States, which have industrial capacities compatible with the technological requirements of the national industry,' the Ministry of Economy said. According to him, it is still necessary ‘to have in view that such reconfiguration of the supply chains could lead to cost increase, generated by the price differences, customs taxes and possible contract conditions imposed by new suppliers’.National Defence Industry Directorate of MEDAT, according to Government Decision no. 864/2023 on the organisation and functioning of the Ministry of Economy, Entrepreneurship and Tourism, has among its attributions: participation in the elaboration of strategies, programmes for the implementation of the Government Programme in the defence and security industry, regardless of the form of ownership of the economic operators; endorsement of the annual investment programme of economic operators with wholly and/or majority state capital; participation in the elaboration of proposals for the national economy mobilisation plan, industry section, annual plans for the preparation of the national economy and the territory for defence, the needs of raw materials and related materials, management/updating of the inventory of production capacities of economic operators in the Similarly, the Directorate takes part in commisions for the control of exports, imports and other operations with military products and products with double use coordinated by the ministry of foreign affairs through ANCEX and coordinates, represents and supports the activity of international technical cooperation in the domain of defence industry, in relation to other states, as well with the organisers in the UN, NATO and the EU.The Ministry of Economy oversees 25 companies in the defence industry, covering various fields from aviation and shipyards to arms production. The defence industry companies, according to data on the MEDAT website, are: Avioane Craiova SA, IAR SA, IOR SA, Romaero SA, santierul Naval Mangalia SA, Uzina Mecanica Orastie SA, CN Romarm SA, Tohan SA Zarnesti, Carfil SA Brasov, Uzina Mecanica Plopeni SA, Metrom SA Brasov, Uzina Mecanica Cugir SA, Uzina Mecanica Mija SA, Uzina Mecanica Sadu SA, Uzina Automecanica Moreni SA, Arsenal Resi?a SA, Uzina Mecanica Bucuresti SA, Uzina de Produse Speciale Dragomiresti SA, Fabrica de Pulberi SA Fagaras, Pirochim Victoria SA, Electromecanica Ploiesti SA, Fabrica de Arme Cugir SA, Uzina de Produse Speciale Fagaras SA, Construc?ii Aeronautice SA and Uzina Mecanica Dragasani SA.

Presidential2025/ The Romanian Orthodox Church reaffirms its neutrality in the elections

Fri, 16 May 2025 00:00:00 +0300

The Romanian Patriarchate sent, on Sunday a press release which shows that the Romanian Orthodox Church clearly ‘restates its neutrality during the electoral campaign”.'The Romanian Orthodox Church clearly reaffirms its neutrality during the electoral campaigns, by delimiting itself from any act of partisan politics and by avoiding involvement in the public support of any of the candidates participating in the presidential election contest. We respect each person's vote, as it reflects his or her beliefs, convictions and choice and is a manifestation of a democratic right enshrined in law. Therefore, we urge all Romanian citizens to exercise their right to vote freely, peacefully and responsibly, for the good of the Romanian people', reads the statement issued by the Patriarchate of the Romanian Orthodox Church. The press related on Sunday about the presence of archbishop of Tomis, Teodosie at the consecration of the AUR headquarters in Constanta where he also delivered a speech in which he expressed his hope that in the second round of the presidential elections God will give ‘a good and healthy result’.

EXCLUSIVE Letter from seven former US ambassadors: “Romanians face a historic choice—Putin or America”

Fri, 16 May 2025 00:00:00 +0300

Seven former U.S. ambassadors to Romania have signed, in an unprecedented move, a joint letter sent to G4Media.ro a week ahead of Romania’s May 18 presidential election, warning that Russia is once again on the offensive and that Romania’s membership in the European Union and alliance with the United States are at risk, https://www.g4media.ro/ reads. The seven former ambassadors, who served under both Democratic and Republican administrations, are: Alfred Moses (U.S. Ambassador to Romania, 1994–1997, appointed by President Bill Clinton) James Rosapepe (U.S. Ambassador to Romania, 1998–2001, appointed by President Clinton) Michael Guest (U.S. Ambassador to Romania, 2001–2004, appointed by President George W. Bush) Nicholas Taubman (U.S. Ambassador to Romania, 2005–2008, appointed by President George W. Bush) Mark Gitenstein (U.S. Ambassador to Romania, 2009–2012, appointed by President Barack Obama) Hans G. Klemm (U.S. Ambassador to Romania, 2015–2019, appointed by President Obama) Adrian Zuckerman (U.S. Ambassador to Romania, 2019–2021, appointed by President Donald Trump) „If Romania elects a pro-Putin president, the United States’ defense and economic support for ordinary Romanians could be drastically impacted. Romanians face an obvious historic choice: Russian domination or their own future as an ally of America in NATO. Putin or America,” the letter reads. While the letter does not mention any specific candidate by name, it comes in the wake of a separate letter written by Adrian Zuckerman, in which he strongly criticizes George Simion (a nationalist Romanian politician and leader of the far-right AUR party), stating that he represents “a clear and present danger to democracy, freedom, and prosperity.” “He parrots Putin’s playbook, trying to pull Romania out of the European Union, NATO, and its Euro-Atlantic ties, and turn it into an authoritarian state like Russia—a new Belarus,” wrote the former U.S. ambassador. Zuckerman explicitly called on all non-extremist political parties to „unequivocally support Nicusor Dan” (a moderate Romanian politician and former mayor of Bucharest, not affiliated with extremist platforms).“I urge all Romanians, especially their political leaders, to examine their conscience and save Romania’s future,” he wrote. The full letter from the seven former U.S. ambassadors to Romania is reproduced below, along with the full version of Ambassador Zuckerman’s letter. To our Romanian Friends: We the undersigned are former US Ambassadors to Romania, Republicans and Democrats, from the Clinton Administration through the Trump Administration. We write not as official representatives of the US Government, nor in any other professional capacity, but as US citizens who committed years of our lives and our reputations to help Americans and Romanians help each other. We have deep affection for Romania and an unwavering commitment to a strong transatlantic alliance between Europe and the US with Romania as a critical bulwark in the security and freedom of both of our nations. Since some of us have also been asked by Romanians, we share the sentiment expressed by Ambassador Zuckerman in his letter of May 8 (attached)as to the stakes in the election and in his position that only Nicusor Dan serves the best interests of the Romanian- American alliance. The US presidents who appointed us made clear during our mandates that they were all committed unequivocally to a strong transatlantic alliance with Romania as a mainstay in support of NATO and the EU for the security of America and of Romania. We saw first-hand Romanian’s successful climb from Russian imposed dictatorship to freedom, and integration with the rest of Europe in the EU and alliance with the US through NATO. Now all of that is at risk. Under Putin, Russia is again on the march. First invading Ukraine. Will Romania be its next target as it was Stalin’s? Two of us are of Romanian heritage. We understand the struggles that so many Romanian citizens face. But as Americans and as former US Ambassadors to Romania, we also understand how most Americans view Vladimir Putin and his allies. They are mortal threats to security, freedom and prosperity in Romania, all of Europe, and America. And, if Romania elects a pro-Putin president, America’s defense and economic support for ordinary Romanians risk being drastically harmed. Don’t argue amongst yourselves about who is to blame or why they are to blame for the extremist’s apparent success. None of you is to blame – the extremist is to blame; the Russians are to blame. The extremist will not succeed if we all unite with a single purpose – to save Romania’s freedom and democracy. The divisive issues that separated the various political candidates from each other are now over. There is only one candidate now, Nicusor Dan, that needs your support to defeat the extremist. He needs all your unequivocal and undivided support. We must unite behind him. I commend those political parties that have already publicly stated their undivided and unequivocal support for Nicusor Dan. I urge those remaining non extremist political parties to also unequivocally support Nicusor Dan. I urge all Romanians, especially its political leaders, to examine their conscience and save Romania’s future. The future of your children, grandchildren and future generations are in your hands. Do not forget that even today thirty-five years after the revolution Romania has still not fully recovered from the damage of fifty years of communist rule. If the extremist is allowed to subjugate Romania to Putin’s authoritarian rule, like Belarus, it will take many generations to get rid of such rule and undo the damage. Do not pay heed to the extremist and his paid foreign and domestic influencers to steal Romania’s freedom. History will remember you and not judge kindly those Romanians who abandoned democracy in favor of extremism. I urge you to keep hope alive, keep freedom, democracy and prosperity alive, reject extremism and support Nicusor Dan. May God bless Romania and each and every one of you. Amb. Adrian Zuckerman(ret)

Senate/Abrudean, meeting with Roberta Metsola, the President of the European Parliament

Fri, 16 May 2025 00:00:00 +0300

In a discussion on Monday in Budapest with President of the European Parliament Roberta Metsola, interim Senate President Mircea Abrudean said that Romania's "commitment" to stability, reforms and the European course remains "as firm and relevant" as ever."Discussion with Mrs. Roberta Metsola, President of the European Parliament, on the sidelines of the Budapest conference, about the situation in Romania, about the fact that the country is governed responsibly even in this complicated period. I reiterated that we are part of the great European family and that our commitment to stability, reforms and the European course remains as firm and relevant as ever," Abrudean wrote on Monday on Facebook. Roberta METSOLA, EP President, intervened as keynote speaker in the session "The future European Union: General perspectives, Federalism or national sovereignty" during the Conference of Speakers of the EU Parliaments in the Hungarian House of Parliament in Budapest. (pHOTO:https://www.facebook.com/photo/?fbid=1240583048070824&set=pcb.1240583418070787&locale=ro_RO)

Moody’s changed tbi bank’s rating outlook to positive

Fri, 16 May 2025 00:00:00 +0300

The outlook on the long-term deposit ratings of tbi bank was changed by Moody’s Ratings from “stable” to “positive”. At the same time the agency also affirmed the bank’s long- and short-term deposit ratings at Ba2/NP and Baseline Credit Assessment (BCA) and Adjusted BCA at ba3 by Moody’s Ratings. Moody’s also affirmed tbi bank’s long- and short-term Counterparty Risk Ratings at Baa3/P-3 and the long- and short-term Counterparty Risk Assessments (CR Assessment) at Baa3(cr)/P-3(cr). The new Moody’s statement follows the announcement of the concluded agreement between 4Finance Holding S.A. and Advent International regarding the acquisition of tbi bank. The transaction is subject to regulatory approvals with expected closure in the fourth quarter of 2025. “The positive outlook on tbi bank’s Ba2 long-term deposit ratings reflects our expectation that governance risks will moderate once the transaction concludes and the bank is acquired by Advent. Additionally, tbi bank could be afforded with better access to capital and expertise in executing its strategy under Advent’s ownership”, says the statement of Moody’s.

Groupama continues to gain the preference of Romanians in 2024

Fri, 16 May 2025 00:00:00 +0300

Groupama, the leader of the insurance market in Romania, continues its development, gaining the preference of Romanians. The total value of gross written premiums by Groupama in 2024 approached 4.4 billion RON, representing a 7% increase compared to the previous year. Excluding mandatory car insurance (RCA), Groupama recorded gross written premiums of nearly 2 billion RON, a 21% increase compared to 2023. The company reported a net profit of 285 million RON and very strong solvency levels: 140% (SCR) and 274% (MCR). “2024 was a year of very good results for Groupama, especially from two perspectives: the quality of our services and the development of optional insurance lines. These are connected, because development is directly tied to the value we deliver to our clients, partners, and team, and our strategy is built on this principle. I believe in the virtuous circle where happy teams and partners create satisfied clients, and financial results follow as a consequence. This belief also clearly defines our strategic priorities. In addition, we are fortunate to be part of such a unique Group—a mutual insurance group in which the client is also a stakeholder. This explains our focus on quality, partnerships, and the well-being of the communities we are part of, alongside financial indicators that ensure our investment power, development, and sustainability. We are therefore proud and highly motivated for the future, which seems to bring new challenges. Proud, without forgetting that we are on a long journey—earning and maintaining the preference of Romanians is a mission that never ends, and staying grounded is very important to me. That’s where a frequently underestimated risk lies—for both individuals and companies. An insured Romania is a stronger Romania, and at Groupama, we remain a company whose priority is to demonstrate—through quality, respect, investment, innovation, and community involvement—that we deserve the trust and preference of Romanians. That is why we are here—to help as many Romanians as possible live their lives with confidence and optimism, knowing they have a partner by their side they can rely on, ready to ensure continuity when the unexpected occurs,” said Calin Matei, CEO of Groupama. Groupama is the leader of the insurance market and the second-largest player in the market excluding RCA (mandatory car insurance). In 2024, the company recorded gross written premiums of 2.4 billion RON for the RCA line, while gross written premiums excluding RCA showed significant growth, reaching 1.99 billion RON, up by 344.4 million RON compared to the previous year (a 21% increase), marking the highest growth in the market. General insurance recorded a total of over 4 billion RON in gross written premiums in 2024, while personal insurance reached 315 million RON. The CASCO line (comprehensive car insurance) remains one of Groupama’s best-performing business segments, with a 17% increase, reaching approximately 1 billion RON. Strong results were also seen in the Buildings and Property line, which reached 337 million RON, a 14% increase compared to 2023. Regarding personal insurance, the results confirm a growing interest among Romanians in optional insurance products, with Groupama achieving very good results in life, health, and travel insurance lines. In 2024, health insurance exceeded 241 million RON, an increase of 79% compared to 2023, while life insurance also grew by 15%, reaching 72 million RON. Groupama’s success in Romania is also reflected in the quality of interactions with each client, strong partnerships, the well-being and performance of its team, the impact the company has in the community, and, not least, a brand that inspires trust and optimism for the future. The Groupama brand is among the top recognized and preferred brands by customers, according to the most recent market studies. The company is the only insurer to have received the Superbrand designation at the beginning of 2025—a program that identifies and recognizes brands that excel in quality, innovation, and reputation, following a rigorous and objective selection process. Groupama also received the TOP Employer certification for the eighth consecutive year. All quality indicators monitored by the company showed improvements compared to the previous year, in line with its promise to deliver high-quality services at a fair price and to exceed customer expectations in every interaction. Thus, every month in 2024, over 15,000 clients were assisted in overcoming unexpected situations. The customer satisfaction rate in 2024 was 97%, and 92% of clients appreciated the ease of working with Groupama. For Groupama, performance means more than just financial indicators. That’s why the company has continued to integrate sustainability principles into its business operations, including measuring and reducing its carbon footprint, in addition to a CSR strategy focused on people and community impact. In 2024, Groupama invested in community-focused projects centered on prevention, addressing real and urgent needs, and also supported the development of Romanian cinema. The year 2024 marked the reopening of Studio Cinema in Timisoara, whose renovation was financially supported by Groupama with approximately 150,000 Euros. The “Lifesavers” program, a national free training program in first aid carried out in partnership with the SMURD Foundation, also continued in 2024. Since its launch, over 10,000 people have participated in more than 370 workshops held in nearly 70 cities across the country. Groupama redirected 20% of its 2024 profit tax to a number of emblematic health-related causes, with 1 million euros going, for example, toward the complete renovation of the Emergency Surgery and Endoscopy Unit within the Marie Curie Children’s Emergency Hospital. In 2024, Groupama continued to prioritize innovation, focusing particularly on artificial intelligence and its meaningful integration—either to simplify the team’s work or to enhance the quality of services. Among the first projects launched was a solution that simplifies and optimizes customers’ phone interactions with Groupama. Currently, after multiple machine learning-based initiatives, the company has launched a comprehensive program focused on generative AI, developed in partnership with Google. At the Group level, Groupama recorded in 2024 a total value of gross written premiums of 18.5 billion Euros and a net profit of 961 million euros.

FinMin Warns of Hard Landing if Political Instability Persists

Fri, 16 May 2025 00:00:00 +0300

Finance Minister Tánczos Barna said on Wednesday that the Romanian economy will face a “hard landing, not to say soft, because it is not credible” and “very hard” if political instability continues, according to Curs de Governare. A day after the historic exchange rate of 5 lei to one euro, the minister announced that there will be a public debate regarding the tax increase and said that a “fiscal reform” is needed. Minister Tánczos Barna made these statements at the Romanian Business Leaders Summit, which was also attended by interim president Ilie Bolojan. “A hard landing is possible, not to say not soft, because it is not credible – very hard if the political instability continues. If we start the measures, the landing is manageable. It depends on where we land, the deficit is 8.6%. It depends on who is flying the plane, who is the pilot and the runway, on how resilient the economy is. It is solid, we still need a pilot, but the situation is manageable,” said Tánczos Barna, quoted by cursdeguvernare.ro. The Minister of Finance stressed that “the financial situation is not easy at all, but it is manageable.” He also said that a day ago he had “a long discussion” with the governor of the National Bank of Romania, Mugur Isarescu, because “in these moments, communication between the National Bank of Romania, the Ministry of Finance, the line ministries and the banking system are vital”: “Communication is vital for short-term and medium-term stability. What we need to ensure during this period, in these extremely fluid days, with contradictory messages and a lot of propaganda, is stability from state institutions. Both at the Ministry of Finance and at the National Bank of Romania, we have found solutions for stabilization and predictability in terms of monetary policies, fiscal policies and from the EU.” Regarding the devaluation of the leu, Minister Tánczos said that “it is a psychological threshold” and that “the pressure is not that great”, arguing that “there is enough money in the reserve” of the National Bank of Romania. “The psychological threshold of 5 lei – this is a psychological threshold. The pressures are greater, fake news is also appearing. The pressure is not that great, there is enough money in reserve, enough professionalism and stability at the NBR to get through this difficult but manageable period. We have a consistent buffer that ensures the financing of public spending in the short and medium term. We have revenues that give us hope that the economy will remain robust and performing. Even if the first 3 months were not the best, April is a month with good results that show that the economy is still performing – taxes, excises, duties continue to show that the Romanian economy is robust”, the minister also said. Asked by journalists present at the event whether Romanians could expect tax increases, given the current instability, Tánczos Barna said that a “public debate” must take place in June, before any political decision. “Tax increases cannot be made without public consultation – we cannot repeat what has been done in the past. We must ask the citizens and companies that pay excise taxes. They must be publicly debated and implemented. I do not see these taxes being implemented on June 1, and certainly not in May. In June, a public debate must take place before any political decision. The political situation offers a new dose of uncertainty, but a public consultation is mandatory. A fiscal reform is needed. A week ago I would have said that 2025 will end without substantial changes on the revenue side (taxes and duties), but after the elections it must be reanalyzed by those who will be in charge. Who it will be, we will decide or Parliament will decide in the coming weeks. But fiscally, things are not so bad,” added the Minister of Finance.

Romania's political crisis heightens recession risks, employers say

Fri, 16 May 2025 00:00:00 +0300

A deepening political crisis after the first round of Romania's presidential election triggered the collapse of a pro-Western government, raised the risk of pushing the country into recession, the head of the country's largest investors' group said, https://uk.finance.yahoo.com/ reads. Financial assets in the European Union and NATO member state have tumbled since hard-right eurosceptic George Simion won Sunday's vote, triggering the resignation of leftist Prime Minister Marcel Ciolacu. Market yields spiked, driven by growing doubts whether Romania can rein in the EU's highest budget deficit exceeding 9% of output and stave off a credit rating to a junk status. "At the moment what we all see is a lot of fear," Radu Burnete, director of employers' association Concordia, told Reuters in an interview. Concordia's members represent 20 industries that together account for 30% of Romania's economic output and employ just under half a million people. "What we risk now because of political instability is to throw Romania in recession," Burnete said. "If we don't have a proper government, if we send mixed signals, if we are downgraded ... then quite frankly, I expect pretty severe recession." Central Europe's second-largest economy grew just 0.8% last year, its slowest pace since the COVID-19 pandemic, with growth slowing each year since 2021. Simion will face centrist independent Bucharest mayor Nicusor Dan in a run-off vote on May 18. The result could upend Romania's pro-Western course as the winner will nominate the next prime minister and influence the ruling majority. "Whichever government is installed has the duty to do everything in its power to avoid losing investment grade rating," Burnete said. "Once you lose the trust of foreign markets, it will take years to get it back and it will be painful." Analysts polled by Reuters last month forecast the economy will grow 1.9% this year, less than the 2.5% estimate the government used when drafting the 2025 budget. The budget assumption did not take into account the political upheaval or the impact of U.S. trade tariffs. Concordia estimates the tariffs could reduce economic output by between 0.3% and 0.7%. U.S. share in Romania's direct exports was insignificant, but Burnete said parts and components shipped to European markets ended up in final products that were exported, which made it difficult to assess the overall impact. "We have very large exposure in this two-step supply chain," he said. "Some sectors are more at risk, the auto industry, furniture, equipment, even IT depending on the European response." He also said that tax hikes, which economists and ratings agencies say are all but inevitable to reduce Romania's budget deficit, would also amplify recession risks and ultimately not yield the projected revenue. "The longer the political instability drags on, the higher the brutality with which the state will need to cut its spending," he said.

King Charles III's Viscri cottage hosts Lee Miller photo exhibition

Fri, 16 May 2025 00:00:00 +0300

King Charles III's cottage in the Saxon village of Viscri is hosting until August 10 the largest exhibition in Romania dedicated to American photographer Lee Miller, a release informs on Friday."An exhibition-event dedicated to photographer and war correspondent Lee Miller opened at the King Charles III's House in the Transylvanian village of Viscri, Brasov County. Titled 'Lee Miller's Romania', the exhibition is the most extensive presentation of her work ever organized in Romania and can be visited until August 10, in the property's exhibition barn," the release states.The photo display organized with the support of Profi Romania brings together 46 images captured during Miller's travels through Romania, from 1938 to 1946. Also showcased are several portraits of personalities such as Queen Mother Elena, along with the young King Mihai I, or iconic statesmen Iuliu Maniu and Dinu Bratianu.Legendary photographer and surrealists' muse Lee Miller traveled through Romania in 1938 and again in 1946, documenting rural life, forgotten rituals and historical figures captured at key moments for the country's national history. On the first visit she was accompanied by surrealist artist Roland Penrose, folklorist Harry Brauner and artist Lena Constante, and on the second by Life magazine photographer John Phillips."We are extremely pleased to host this photographic itinerary through Romania of the 1940s, captured by the exceptional photographer Lee Miller. The exhibition resonates and enriches on multiple levels: from the emotion of rediscovering an authentic, extremely varied and surprising Romania, x-rayed at a historical moment that was key for its subsequent evolution, to the fascination and inspiration sparked by the destiny of this remarkable woman. Lee Miller was a fighter, a woman who broke taboos, lived intensely and who invites us through each frame to look at the world with courage, openness and sincerity," said the exhibition curator Raluca Grigore.Miller debuted as a model, then moved to the other side of the camera. During WW II she was a war correspondent, documenting the advance of the American army in Europe after the Normandy landings, including the liberation of Paris and the horrors of the Buchenwald and Dachau camps."Most of her photos, however, remained unknown until after her death, when her son Antony Penrose and his wife discovered a treasure trove of images and manuscripts hidden in the attic of their house. The images put on show in Viscri are part of these rediscovered works, the subjects being identified with the support of Romanian researchers such as Dr. Adrian-Silvan Ionescu (Institute of Art History), Ioana Popescu (Museum of the Romanian Peasant) and Paula Popoiu ('Dimitrie Gusti' National Village Museum), at the request of Lee Miller Archives," the release states.Lee Miller's life story recently reached cinema theaters through the biographical film "Lee" released last year, in which she is portrayed by Kate Winslet.

AmCham Romania calls for responsibility and dialogue for Romania’s economic recovery

Fri, 16 May 2025 00:00:00 +0300

In the context of economic turbulence built up over the years and amplified to a worrying level by the prolonged electoral period, the American Chamber of Commerce in Romania – (AmCham Romania), calls for responsibility and dialogue, essential to prevent an irreversible decline in investor confidence in Romania. On behalf of our 600 members—American, international, and Romanian companies active in 32 economic sectors, contributing collectively 20% to Romania’s GDP—we reiterate the priorities that the American Chamber of Commerce in Romania (AmCham Romania) has consistently advocated during consultations with decision-makers and in discussions with candidates for the presidential elections. Romania’s top priority is to achieve economic recovery and a macro-budgetary balance. While elections will come and go, it is crucial for the economy to stay stable. In recent years, Romania has faced multiple overlapping crises that have created significant budgetary pressures and severely affected the investment climate. The risk of being downgraded to a category of countries deemed unsuitable for investment (junk status) is now more imminent than ever. We have reached a point where we can no longer delay essential reforms. Romania cannot afford to miss out on European funds. Financing the economy and overcoming the crisis depend on our ability to attract and effectively utilize PNRR funds. To prevent further destabilization of the economy, we recognize that a fiscal reconfiguration is necessary. However, it is crucial that this reconfiguration is implemented fairly. The private sector has been significantly impacted by these economic shocks and has managed to absorb them thus far, but it can no longer be expected to bear the entire burden alone. In 2025, the private sector and society expect Romania to demonstrate, through its decisions and leadership, that it is a mature member of the European Union, a reliable ally within NATO, a credible partner in its strategic relationship with the United States, a pillar of stability in the region, and a serious candidate for OECD membership. These directions are non-negotiable. In light of the ongoing electoral debates, the American Chamber of Commerce in Romania (AmCham Romania) maintains its apolitical stance, which has guided its activities for the past 32 years, and as a neutral representative of the business community, AmCham Romania does not make recommendations regarding voting options. Regardless of the future configuration of political power, we consider it essential that political leaders engage, without delay, in a genuine dialogue with the private sector to stabilize and recover the economy.

Electoral campaign for second round kicks off, candidates should contribute to fair, transparent campaign

Fri, 16 May 2025 00:00:00 +0300

The Permanent Electoral Authority (AEP) specified that the electoral campaign for the second round of the presidential elections begins on Friday and urges the electoral competitors to contribute to a "fair, honest and transparent campaign, which meets the democratic expectations of the citizens".According to an AEP press release, from the beginning of the electoral campaign for the second round of the presidential elections, namely May 9 - the date of the validation and public announcement of the results of the first round of elections by the Constitutional Court of Romania - until its conclusion on May 17, at 7:00 am, all legal provisions in force must be respected.The AEP specifies that during this period only certain types of political advertising activities and materials (campaign materials) are allowed, such as election posters, audio or video campaign materials broadcast by audiovisual media under the conditions of the law, advertising in the written press, online campaign materials, brochures, leaflets and other printed materials of the same category."Political competitors have the obligation to remove, by the date of the beginning of the electoral campaign, all propaganda materials used until that moment and which do not comply with the rules set by the legislation in force," AEP also informs.Moreover, the Permanent Electoral Authority reminds the presidential candidates that the use of discriminatory messages or slogans, messages inciting hatred and intolerance and any forms, means, acts and actions of defamation and religious or ethnic defamation and harassment is prohibited in the electoral campaign.At the same time, during the campaign, political campaign materials distributed by political actors must contain the following information (label):(a) an indication that it is political campaign material;b) the candidate or the political organization at whose request or on whose behalf the political material is prepared, placed, promoted, published, distributed or broadcast, namely the name and e-mail address, as well as the postal address of the candidate, when publicly disclosed by him or her, or the address of the headquarters, in the case of political organizations;c) a statement that the political campaign material has been subject to techniques of targeting or distribution of advertising material in the sense of Article 3(11) and (12) of Regulation (EU)2024/900 of the European Parliament and of the Council of March 13, 2024 on transparency and targeting in political advertising, where applicable;d) a statement that the amounts spent for the preparation, placement, promotion, publication, distribution or broadcasting of political advertising material come exclusively from the sources permitted by Law 334/2006, republished, as amended and supplemented;e) where applicable, a mention that the political campaign material has been the subject of an election promotion or a paid election promotion;f) the unique identification code of the financial agent registered with the Permanent Electoral Authority.AEP also specifies that complaints regarding the electoral campaign through very large online platforms are addressed to the Central Electoral Bureau for the election of the President of Romania in 2025 (BEC).The indicative model of the complaint, the list of very large online platforms according to the provisions of Regulation (EU) 2024/900, as well as the list of electoral offices competent to resolve complaints regarding the electoral campaign, other than those concerning very large online platforms, can be found in the Annexes to the BEC Decision no. 54D/26.03.2025, available at the following link: https://prezidentiale2025.bec.ro/decizii-in-aplicarea-unitara-a-prevederilor-legii/.

Reuters: Romania should be compensated for aiding Ukraine, hard-right presidential frontrunner says

Fri, 16 May 2025 00:00:00 +0300

Romania's hard-right presidential frontrunner George Simion said in a televised debate that the EU and NATO state should be compensated for the aid it has provided to neighbouring Ukraine as it defends itself against Russia, https://www.reuters.com/ informs. The eurosceptic nationalist swept the first round of the presidential ballot on Sunday, and an opinion survey earlier this week showed him leading ahead of the May 18 run-off vote against centrist Bucharest Mayor Nicusor Dan. In a debate late on Thursday, Dan said that, should he be elected Romania's support for Ukraine would not waver as defending Kyiv meant protecting Romania from potential future Russian aggression. Simion, 38, opposes military aid to Ukraine, is critical of the EU leadership and says he is aligned with U.S. President Donald Trump's Make America Great Again movement. Analysts have said a Simion victory could isolate Romania, erode private investment and destabilise NATO's eastern flank, where Bucharest plays a key role in providing logistical support to Ukraine as it fights a three-year-old Russian invasion. In the debate Dan, 55, a two-term mayor of Bucharest running as an independent centrist on an "Honest Romania" ticket, fully backed EU plans to arm itself, whereas Simion suggested he would veto Brussels military aid to Ukraine while saying Europe should depend on NATO for its own defence. Romania's president has a semi-executive role that includes commanding the armed forces and chairing the security council that decides on military aid. The president can also veto important EU votes that require unanimity. "I will vote for the interest of the Romanian state without prioritising other states," Simion said during the debate organised by television station Euronews Romania. "Our position towards Russia's war of aggression in Ukraine is one of neutrality not escalation, not supplying weapons, in alignment with the Trump administration." Trump came to office promising a swift end to the war in Ukraine and on the campaign trail threatened to stop military aid to Kyiv. Despite a brief pause in February and the longer one that began in early March, the Trump administration has resumed sending the last of the aid approved under U.S. President Joe Biden. No new policy has been announced. Simion said Romania should be compensated for the support it has given Ukraine once the rebuilding process starts."I don't know if that will be reflected in contracts for the rebuilding or in grains but ... for the donated Patriot system and other spending by Romanians there should be reciprocity." To date, Romania has donated a Patriot air defence battery to Kyiv, is training Ukrainian fighter pilots and has enabled the export of 30 million metric tons of Ukrainian grain through its Black Sea port of Constanta. The donated Patriot will be replaced by allies. "For Ukraine to secure a just peace it needs the support of Western states, including Romania, and that is for our own security," Dan said. He said that Romania must be fair to its Western partners, which are helping Ukraine against a war at Romania's borders and that it should also contribute if it wanted to take part in the future rebuilding. He also fully backed European plans to prepare for a potential attack from Russia as EU governments seek to be less reliant on the United States for their security. "To say that if you defend yourself means you want war is ... populism," Dan said. "No, you want to spend money and have a reformed army to prevent a war." Under the ReArm Europe plan, the EU is looking to boost military spending by 800 billion euros ($876 billion) over the next four years, via loosening fiscal rules on defence investment and joint borrowing for large defence projects against the EU budget. Simion said that "for defence we have NATO, not the EU".

Interim president Bolojan, at the

Fri, 16 May 2025 00:00:00 +0300

Acting President Ilie Bolojan emphasized on Saturday, at the 'Coalition of the Willing' Summit, that reaching a lasting and just peace in Ukraine as soon as possible is in Romania's interest."Today, at the 'Coalition of the Willing' Summit, I emphasized that it is in Romania's interest for a lasting and just peace in Ukraine to be reached as soon as possible. This requires continued support and solid security guarantees for this country. I am convinced that Romania will continue to actively contribute to achieving our common goal", said Ilie Bolojan, in a post on his Facebook page, after participating in a videoconference at the 'coalition of the willing' summit in Kyiv.He said that all the leaders participating in the meeting"supported the proposal for a full and unconditional 30-day ceasefire in Ukraine and the need to maintain pressure on Russia, including new sanctions, in case of non-compliance with the ceasefire".Moreover, Bolojan added, the "essential role of the US and the close cooperation with this strategic ally" was emphasized."It has been an honor for me to participate in these important meetings, alongside our partners," concluded the interim president.Ukraine hosted a meeting on Saturday of leaders from the so-called "coalition of the willing" countries willing to provide it with security guarantees by participating in a peacekeeping force in the event of a peace agreement with Russia, Ukrainian President Volodymyr Zelensky announced on Friday, according to Reuters."We need this coalition, and it must be strong enough to guarantee security according to our common vision," Zelensky said in a video message, without specifying which leaders will attend the meeting.The Ukrainian president insisted that his country joins NATO, an idea that US President Donald Trump has ruled out. In these circumstances, with the support of British Prime Minister Keir Starmer and French President Emmanuel Macron in particular, Zelensky is trying to obtain the deployment of a contingent of foreign troops in Ukraine as a security guarantee, in case he reaches a peace agreement with Russian President Vladimir Putin.France and the United Kingdom have pushed the idea of forming a coalition of countries "willing" to participate in such a force with troops or other contributions. Several summits have already taken place at which this subject has been discussed, without any concrete decision being announced so far.Russia has repeatedly said it opposes the deployment of troops from NATO or EU countries allied with Ukraine to provide a form of security guarantee. Moscow describes such an action as "totally unacceptable" and has warned that it will consider countries participating in such a force to be involved in a "direct armed conflict" with Russia. (Photo:https://www.presidency.ro/ro/media/galerie-foto-video)

Minister Hurezeanu - in Lviv, at meeting for establishment of Special Tribunal for War Crimes against Ukraine

Fri, 16 May 2025 00:00:00 +0300

Minister of Foreign Affairs, Emil Hurezeanu, participated on Friday, in Lviv, at the high-level meeting of the participating states within the core group for the establishment of the Special Tribunal for War Crimes against Ukraine.According to a release from the Ministry of Foreign Affairs (MAE), the meeting marked the announcement of the initiation of the process of establishing the Special Tribunal, with the participation of the Prime Minister of Ukraine Denys Shmyhal, the Secretary General of the Council of Europe, Alain Berset, the High Representative of the Union for Foreign Affairs and Security Policy, Kaja Kallas, as well as other European and Ukrainian officials.On this occasion, the MAE said, Romania's full support for international initiatives aimed at holding accountable all those responsible for the aggression against Ukraine and compensating Ukraine and its citizens for the damages suffered as a result of this war was reconfirmed.These include participation in the core group for the establishment of the Special Tribunal for the War Crimes against Ukraine, the referral of the Prosecutor of the International Criminal Court to the investigation of war crimes, crimes against humanity and genocide committed by the Russian Federation in the context of the war launched against Ukraine, participation in the Register of Damage Caused by the Russian Federation's Aggression against Ukraine and the negotiation of an international treaty on the establishment of an International Commission for Compensation for Ukraine.Emil Hurezeanu also participated in the informal meeting of the Foreign Ministers of the EU Member States in Lviv, at the invitation of his Ukrainian counterpart.The Romanian minister drew attention to the fact that "Russia is not really interested in achieving peace, and the EU must continue its efforts to support Ukraine and to keep the US engaged in the peace process in Ukraine".As to concrete support at the EU level for Ukraine, the head of Romanian diplomacy stressed the importance of implementing the initiative proposed by Kaja Kallas for military support, the need to unlock assistance for Ukraine through the European Peace Facility/EPF and the extension of the mandates of the two EU missions regarding Ukraine: the Assistance Mission (EUAM) and the Military Assistance Mission (EU MAM).Emil Hurezeanu supported the adoption of the 17th package of restrictive measures against Russia and reiterated the importance of advancing the EU accession negotiations of Ukraine and the Republic of Moldova. (Photo:www.mae.ro)

Bucharest Opera Festival – 15 – 24 June

Fri, 16 May 2025 00:00:00 +0300

The fourth edition of Bucharest Opera Festival, which will alternate opera, ballet, musical, musical-rock opera and opera in concert presented by several companies among which two from abroad – The National Theatre for Ballet and Opera ‘Maria Biesu” from Kishinev and Opera from Ruse will take place in 15 to 24 June.The National Opera in Bucharest will be joined on the festival programme by the Romanian National Opera in Iasi, the Romanian National Opera in Timisoara, the Hungarian Opera in Cluj-Napoca, the Opera in Brasov, the 'Nae Leonard' Opera and Ballet Theatre in Galati and the Radio Chamber Orchestra. More than 1,500 musicians, dancers, artistic and technical staff will be present on stage, in the pit and backstage at the Bucharest Opera Festival 2025, as in previous years, the event will contribute to making Bucharest a privileged destination for cultural tourism. The festival programme includes: * Sunday, 15 June, 19:00 - 'Faust' by Charles Gound, directed by Alexandru Toscilescu, conductor Tiberiu Soare (Bucharest National Opera)* Monday 16 June, 19:00 - 'Rita' by Gaetano Donizetti, opera in concert (Radio Chamber Orchestra) * Tuesday, 17 June, at 20:00 - 'Jesus Christ Superstar', by Andrew Lloyd Webber and Tim Rice, rock opera directed and choreographed by Novak Peter Novak, conductor Kulcsar Szabolcs (Hungarian Opera in Cluj-Napoca) * Wednesday, 18 June, 19:00 - 'Cinderella' by Sergei Prokofiev, ballet directed and choreographed by Renato Zanella, conductor Daniel Jinga (Bucharest National Opera) * Thursday, 19 June - 'Carmen by George Bizet', ballet directed and choreographed by Natalia Osipova (Ruse Opera)* Friday, 20 June, 19:00 - 'Turandot' by Giacomo Puccini, directed by Rares Zaharia, conductor David Crescenzi (Romanian National Opera Iasi) * Saturday, 21 June, 19:00 - 'Nabucco' by Giuseppe Verdi, opera directed by Andei T?b?caru, conductor David Crescenzi (Opera of Brasov) * Sunday, 22 June, 19:00 - 'Lucia di Lammermoor' by Gaetano Donizetti, opera directed by Paolo Bosisio, conductor Victor Gheorghe Dum?nescu (National Opera and Operetta Theatre 'Nae Leonard' in Galati) * Monday, 23 June, 19:00 - 'Spartacus' by Aram Haciaturian, ballet (National Opera and Ballet Theatre 'Maria Biesu' in Chisinau) * Tuesday, 24 June, 19:00 - 'The Merry Widow' by Franz Lehar, operetta directed and costumed by R?zvan Mazilu, conductor Mihnea Ignat (Romanian National Opera in Timisoara).

Survey: Romania's SMEs face revenue drops of up to 50pct

Fri, 16 May 2025 00:00:00 +0300

Small and medium-sized enterprises (SMEs) in Romania are facing a series of critical problems that put their development and even existence to the test, including a drop in revenues by up to 50% and expenses that are higher than earnings, according to the findings of a specialist survey published on Thursday.According to Pixer Agency, the most affected areas are e-Commerce, B2B Services and Health & Wellness businesses, for which online customers and the sales generated by them represent between 70% and 90% of all businesses."SMEs are facing increasingly aggressive competition and a sharp increase in customer acquisition costs, which considerably reduces their profit margins. Added to this are the rapid changes in consumer behaviour, which leads to lost opportunities and decreased sales. Without a quick adaptation and high-performance digital marketing solutions, many businesses risk falling behind or even leaving the market completely. Thus, in 2025, digital marketing is no longer optional, and without a solid strategy, business suffers. The pressure is higher than in previous years. 2024 was an unpredictable year, and 2025 comes with major changes, affecting SMEs," the survey shows.However, specialists note that companies are not cutting back on their marketing budgets, but are emphasising optimising promotion costs, increasing sales, results with maximum efficiency, with a lower advertising cost and results in a shorter time.Thus, in 2025, the digital marketing budgets of SMEs vary between EUR1,000 and EUR 150,000 a month, and companies in e-Commerce, Tourism and Fashion are the largest investors in online promotion, especially in Google Ads, Facebook Ads, TikTok Ads, but also e-mail marketing."Businesses with poor sales need to make profound but essential changes in their digital marketing strategy, calling on specialists with proven results. By correctly redefining the customer profile, the right positioning, setting up an efficient sales funnel that turns users into buyers, optimising the cost per click by up to 40%, but also the implementation of intelligent automations, there are visible increases in sales from the first 30-60 days", note the consultants.Founded eight years ago, Pixer Agency has over 200 clients in its portfolio from 35 fields, and the team includes 12 specialists who have set up over 7,500 campaigns with high-performance sales, managing budgets in excess of EUR 15 million.

Employers' Confederation: Romania need a free economy, not political masters

Fri, 16 May 2025 00:00:00 +0300

Romania needs a free economy, not political masters, says the president of the Concordia Employers' Confederation, Dan Sucu, warning that whenever the country's economic interests are threatened, the political class will be held accountable "without hesitation.""Romania's prosperity is due to the business environment, the companies and the millions of Romanians who work in these companies. Politicians have succeeded each other quickly, but our private environment was built with difficulty and is stable. It is impossible for me to remember how many prime ministers or finance ministers I have known. A politician who arbitrarily spends the taxes we pay is easy to find, but a businessman or an entrepreneur who takes responsibility for a business with 50, 100, 1,000 people is much more difficult. This legitimizes us in front of any Government, any politician and any president. It gives us the right to demand that certain principles be respected, that any economic decision be agreed with the representative business environment (...) We will hold the political class accountable without hesitation and we will do so whenever the country's economic interests are threatened (...) There are still great opportunities in Romania and in order for us all to be more prosperous we need decisions that are based on data, not dogmas. We need a free economy, not political masters," said Concordia president Dan Sucu, in a press release sent on Thursday.According to him, a third of the GDP and the well-being of Romanians are produced in the thousands of Concordia member companies, with over 450,000 employees, but which should be more involved in the life of the communities."Wherever you turn your head in Romania, you will come across a factory, a store, an office, a construction site of a Concordia member. We exist to defend the interests of those who produce value for society (...) But with this power comes responsibility towards the communities in which we operate. I am truly ashamed when I meet businessmen who run companies with hundreds of employees, but do not get involved in public life and in the communities. We remind them bluntly: What you have worked so far must be defended. Sometimes more vocally, in front of those we elect, and most often, by getting involved in employers' organizations," said Sucu.As the second round of the presidential elections unfolds, the Concordia Employers' Confederation calls on the two remaining candidates to publicly declare, unequivocally, that: they will not change Romania's European and Atlantic path, they will not support tax increases and they will get involved in eliminating economic imbalances, they will respect democracy, freedom, private property and the rule of law.

Euro recorded new historic high on Thursday: 5.1222 lei

Fri, 16 May 2025 00:00:00 +0300

The national currency depreciated on Thursday against the euro, which was calculated by the National Bank of Romania (BNR) at 5.1222 lei, on the rise by 2.31 bani (0.45%) against the previous quotation of 5.0991 lei, recording a new historic high. The leu also lost ground against the US dollar, which was quoted at 4.5369 lei, on the rise by 4.71 bani (+1.05%), against Wednesday, when it was 4.4898 lei. The national currency depreciated against the Swiss franc, calculated by BNR at 5.4930 lei, on the rise by 4.64 bani (0.85%) against 5.4466 lei, the previous quotation, recording a historic high. A gram of gold depreciated against the Swiss franc, calculated by BNR at 5.4930 lei, on the rise by 4.64 bani (0.85%) compared to 5.4466 lei, the previous quotation, recording a historic high. A gram of gold got cheaper at 487.0692 lei, from 487.1276 lei, at the previous session. In an effort to curb the currency’s decline, the National Bank has intervened in the market, leading to a notable rise in interest rates. The three-month ROBOR index surged to 7.25%, the highest level since January 2023. Over the past few days, the central bank has spent at least 7 billion euros to stabilize the currency. Despite attempts to soften his rhetoric and position himself as “Romania’s Meloni,” George Simion has so far failed to ease public or investor concerns. Simion has announced plans to form a government composed of the far-right AUR and POT parties if he wins the second round of the presidential elections on May 18. A poll published on Wednesday shows Simion with 38.9% support, compared to 31.3% for Nicusor Dan. Another 14.7% of respondents were undecided, while 8.9% declined to answer. Excluding undecided and non-respondents, the results suggest Simion could secure 55.4% of the vote, with Dan at 44.6%, according to the Verified Institute. The possibility of early elections has raised concerns in Romania’s business community, as the process could take several months, prolonging political instability. Interim Minister for European Funds Marcel Bolos said on Thursday that there are no discussions about a potential agreement with the International Monetary Fund (IMF), adding that IMF involvement typically comes with “harsher reforms” than those outlined in Romania’s National Recovery and Resilience Plan.He also expressed hope that this emotional reaction from markets and investors would subside soon. Romania currently has the highest budget deficit in the European Union — 8.65% of GDP in 2024, up from 5.61% in 2023. The cost of servicing state debt remains very high due to the country's weak credit ratings (Fitch: BBB-, S&P Global: BBB-, Moody’s: Baa3).

PresidentialElection2025/Nicusor Dan reinforces commitment to Euro-Atlantic path of Romania in message to Concordia Employers' Confederation

Fri, 16 May 2025 00:00:00 +0300

General Mayor of Bucharest Nicusor Dan, an independent candidate in the presidential elections, responded in message to the president of the Concordia Employers' Confederation, Dan Sucu, on Wednesday, that private property is "essential" to encourage Romania's progress.The mayor added that these days, "more than ever", entrepreneurs and the business environment need to "actively" get involved in the debate that precedes the second round of the presidential elections."Romania needs direction, and in my vision of Honest Romania the only direction is the European and Atlantic one. I do not indicate this direction only in response to requests in electoral campaigns, I have demonstrated this every day both in civil society and as mayor of the Romanian capital. I understand your concern, especially since both my counter-candidate [Alliance for the Unity of Romanians' George Simion, editor's note] and the people mentioned [by the latter, editor's note] among the proposals for prime minister have given signals or were explicit that they want nationalization, decoupling from the European Union and giving up on the NATO shield," Nicusor Dan's message reads.He mentioned that Romania's institutions are "dysfunctional, ineffective", "monopolized by interest groups", but that they need to "come back to the support" of citizens and the business environment. In this sense, public money needs to be spent "much more responsibly", says the mayor general.."Democracy and freedom are the foundation on which we can build Honest Romania. Rule of law is absolutely necessary to put public institutions back at the service of the citizen, and private property is essential to encourage progress and prosperity in Romania. (...) I am convinced that we share the same values, which I cannot say about my opponent, unfortunately. Therefore, your members should take a closer look at what Romania's presidential candidates have done so far, what they have said about Romania's direction and not just believe in letters of good intentions that they sign to win votes," reads the general mayor's message.Against the background of the second round of the presidential elections, the Concordia Employers' Confederation asks the two remaining candidates to declare publicly and unequivocally that: they will not change Romania's European and Euro-Atlantic path, they will not support tax increases and will be involved in eliminating economic imbalances, they will respect democracy, freedom, private property and the rule of law.AUR chairperson George Simion, a candidate in the presidential elections, assured that Romania will not deviate from its European and Atlantic course."As the future president of Romania, I would like to state clearly: Romania will not deviate from its European and Atlantic course. Our membership of the European Union and our strategic partnership with the United States are firm benchmarks of stability and security, which we will strengthen and not contest," said George Simion in a press release.

PresidentialElection2025/Simion on supporting Ukraine: Romania's vote - only in accordance with interest of Romanian nation

Fri, 16 May 2025 00:00:00 +0300

AUR candidate in the presidential elections, George Simion, believes that Romania's vote for a new support package for Ukraine must be in line with the interest of the Romanian nation and "without prioritizing other states", emphasizing that his position towards Russia's war of aggression in Ukraine is "neutrality, not escalation"."I will vote only in accordance with the interest of the Romanian nation and without prioritizing other states. I love my country and I believe that Romanian farmers, I believe that Romanian pensioners must have priority, and our position towards Russia's war of aggression against Ukraine, which has already lasted for three years and is going nowhere, is neutrality, not escalation, not supplying weapons, perfect alignment with the policy of the Trump administration, of our strategic partner. Those who try to give from the country's budget, harming an already impoverished, mocked, undignified population, humiliated due to the cancellation of the elections, due to the standard of living, represent a mockery in the face of any man who says he is the leader of this country", George Simion stated on Thursday in the televised debate organized by Euronews.He added that, "after we are well, we can worry about the well-being of others.""It is time to push the country from ground up, to recover and look to the future. After we are well, we can worry about the well-being of others," George Simion pointed out.

Ukrainian F-16 technicians to be trained in Romania

Fri, 16 May 2025 00:00:00 +0300

Romania and the Netherlands will establish a joint training center for Ukrainian F-16 technicians, https://militarnyi.com/ informs. The Dutch Ministry of Defense reported that both countries have signed a memorandum. The training center will be located at the Fetsesti air base, where the European F-16 Training Center is already operating. The center currently trains both Romanian and Ukrainian pilots. “Ukrainians will use F-16s for air defense. Every day we see how important this is. We need not only pilots, but also well-trained technical staff. Together with Romania, we are taking the next important step in this direction,” the Dutch Ministry of Defense said. Earlier, the Dutch Air Force trained Ukrainian technicians at the Volkel air base. F-16 systems – electronics, hydraulics, avionics, weapons, engine – require highly skilled maintenance. Separate specialists are responsible for hanging and adjusting missiles, bombs, guns, integrating guidance systems, and checking weapons electronics. Last year, the Netherlands officially approved the transfer of 24 F-16 fighter jets and seven jet engines to Ukraine. In addition, they are supplying spare parts and equipment for the maintenance and repair of the aircraft, totaling 80 million euros. The Netherlands is financing the purchase of weapons for Ukrainian F-16s. On March 21, 2024, it was announced that 150 million euros would be allocated, and on July 30, 2024, an additional 300 million euros would be allocated. Ukraine and the Czech Republic also agreed to establish a pilot training center for F-16 fighters.

Minister Hurezeanu at informal meeting of EU diplomatic leaders; Ukraine war on agenda

Fri, 16 May 2025 00:00:00 +0300

Minister Emil Hurezeanu participated on Wednesday and Thursday at the informal meeting of foreign ministers from EU member states (Gymnich format), hosted in Warsaw by Kaja Kallas, the High Representative of the Union for Foreign Affairs and Security Policy, and Radoslaw Sikorski, the Polish foreign minister, Poland holding the EU Council presidency at present. According to a Foreign Ministry press release of Thursday, at the session devoted to EU-UK relations, the ministers had an exchange of opinions with David Lammy, the UK secretary of state for foreign affairs, Commonwealth and development, about the evolution of EU-UK relations, European security, the support offered to Ukraine, the Middle East situation and so on. Minister Hurezeanu welcomed the first EU-UK summit to be held on May 19, in a complex geopolitical context and expressed his support in consolidating the partnership between EU and UK, including the adoption of a defence and security partnership. The Romanian official also pointed out the importance to continuate the EU-UK cooperation about peace in Ukraine. About the EU-USA relations, the head of Romanian diplomacy reiterated the importance of a solid bilateral partnership, essential for European security and prosperity and pointed out the relevance of building a positive EU-USA agenda. Emil Hurezeanu also pointed out the capital US role in talks about peace in Ukraine and pleaded for an increased involvement and cooperation with USA in ensuring security and prosperity in the Black Sea area. In context, he pointed out Romania's contribution within the Black Sea naval demining group which also includes Bulgaria and Turkey. Referring to the Russian war against Ukraine, Hurezeanu reiterated the importance of concluding a just and durable peace with the involvement of Ukraine and Europe in negotiations in ensuring the susteinability of a peace accord. He pointed out the essential role of continuing the EU support for Ukraine in all directions and reasserted Romania's support for the initiative proposed by Kaja Kallas for military support for Ukraine. Also, minister Hurezeanu expressed support in continuing pressure over Russia and pointed out the importance of adopting the 17th package of restrictive measures and additional sanctions in the regime on Russia's hybrid threats. During the work dinner with partners from the West Balkan area, Turkey and Moldova, the Romanian foreign minister pointed out the importance of the EU extension policy, as strategic investment in the peace, security and prosperity of those partners and of Europe on the overall. He emphasized the intensification of Russia's hybrid actions, both against member states and partners. He also showed the importance of cooperation in the direction of consilidating the resilience of EU and neighboring partners by knowing the lessons learned, resulting from the experience of countries like Moldova or Romania. Minister Hurezeanu also expressed support for the adoption of EU strategy to counteract Russia's hybrid threats. (Photo:https://www.mae.ro/)

Romania, U.S. sign memorandum on green energy storage through pumped storage hydropower plants

Fri, 16 May 2025 00:00:00 +0300

Romania's Hidroelectrica and the National Renewable Energy Laboratory (NREL) - U.S. Department of Energy have initialled a memorandum that puts Romania at the forefront of Europe in the storage of green energy through pumped storage hydropower plants (PSH) throughout the Carpathian chain, Romania's Energy Minister Sebastian Burduja announced on Monday."Today, in Warsaw, on the sidelines of the Three Seas Summit, I had an excellent, extensive bilateral meeting with my ministerial counterpart from the United States of America, Christopher Allen Wright, secretary of energy. A graduate of the prestigious universities of MIT and Berkeley, he is one of the most respected personalities in the US energy sector, a follower of a pragmatic line, identical to my position: we need safe, cheap and clean energy - in that order of priorities. It was an essential discussion for the energy future of Romania and our region. We reaffirmed the common commitment to the development of strategic projects that will bring us closer to a major goal: transforming Romania into a strong, resilient and sustainable regional energy hub, under a strategic partnership with the United States of America," Burduja said in a social media post on Monday.According to the minister, the agenda of the discussions included small modular reactors (SMRs) at Doicesti,Romania, as the future of safe and clean nuclear energy, with state-of-the-art American technology (NuScale); Units 3 and 4 of the Cernavoda nuclear-power plant - a strategic project for which we signed the EPCM contract at the end of last year, including with two large American companies (Fluor and Sargent & Lundy); the HVDC project - the high-voltage DC interconnector, vital to the integration of renewables and the strengthening of the grid, to which Fluor is also a part.Pumped storage hydropower (PSH) plants were also addressed, along with the development of a chain of such "green batteries" in the Carpathian Arc, under the collaboration between Hidroelectrica and the prestigious National Renewable Energy Laboratory (NREL) - U.S. Department of Energy."I am announcing for the first time that last weeks we signed a memorandum between NREL and Hidroelectrica, an approach that puts Romania at the forefront of Europe in the storage of green energy through pumped storage hydropower plants throughout the Carpathian chain. The pre-feasibility and feasibility studies, developed with American support, follow," wrote Burduja.Also discussed in Warsaw were geothermal energy - ELCEN's agreement with American partners for mapping and developing geothermal potential in Bucharest, a project that will be backed from the Modernisation Fund - and Romania's potential for natural gas production."Our discussion started from the reality that Europe is experiencing today: an increase in energy prices due to the lack of interconnection among countries; the shock therapy of shutting down coal-fired power plants without viable alternatives; costs of CO2 certificates, which affect competitiveness. America knows: a strong and competitive Europe is a guarantor of global stability. For that, we need to move from the Green Deal to the Smart Deal. Romania takes up its strategic partnership with the U.S. at the political and military level, and takes it to the vital business area, where the economic future and energy security are being built. As I said before, the bilateral relationship between Romania and the U.S. in the energy sector is exceptional, as evidenced by today's meeting. Major projects were, in fact, started during the first Trump administration. We reaffirmed our determination to work together in the spirit of the democratic values and economic freedom that define the U.S.-Romania alliance. Together, Romania and the United States are opening a new chapter in our strategic energy partnership. I am more confident than ever in the common future of safe, cheap and clean energy - I repeat, in that order of priorities."

Largest photovoltaic park in Romania, financed by PNRR, inaugurated in Teius by Danish developer

Fri, 16 May 2025 00:00:00 +0300

The largest photovoltaic park in Romania financed with funds from the National Recovery and Resilience Plan (PNRR), a total investment of 55 million euros, of which 15 million euros represent non-refundable financing, was inaugurated on Tuesday in Teius (Alba County) being also the largest such objective achieved in the 16 countries where the Danish developer Eurowind Energy is present.Built on a pasture of over 80 hectares, the park is still used by livestock breeders in the area for grazing sheep."It is the largest in our group, in all 16 countries, and the largest photovoltaic park financed with funds from the PNRR, by the Ministry of Energy. The investment is worth 55 million euros, of which 15 million euros from the PNRR", said Adrian Dobre, Country Manager Romania at Eurowind Energy.He also announced another investment in Teius, in a battery energy storage facility (BESS), with a capacity of 116.96 MWh. The total investment in the storage infrastructure amounts to approximately 43 million euros, of which 7.6 million euros are PNRR funds, and which should be completed by the end of next year.Present at the inauguration, Constantin Saragea, secretary general of the Ministry of Energy, said that through this investment in the energy system "another page is being written" in Romania's history in the energy field."The importance comes from the capacity of this project, 60.2 MW, it is a capacity that we, today, are putting into operation (...). If we were to calculate the average consumption of a locality or a place of consumption for a citizen, it would support 60.2 MW, and at the national level it would support about 86,000 households, which means 70% of the households in Alba County", he said.The official pointed out that such investments are needed in the energy system."We want to have such investments at the level of Romania, because only through an honest partnership like this, between the state and the private sector (...) a stable, efficient and independent energy system can be built also in Romania", Saragea said.The official inauguration took place in the presence of the Ambassador of the Kingdom of Denmark to Romania, Uffe A. Balslev, representatives of ANRE, Transelectrica, DEER and the Mayor of Teius, Mirel Halalai.The construction of the Teius photovoltaic park began in the fall of 2023, with 120,276 photovoltaic modules being installed.The project was developed by Eurowind Energy, a Danish operator of renewable projects, in partnership with Teius Solar Ltd.It will produce approximately 103.59 GWh of electricity annually and will contribute to reducing carbon dioxide emissions by over 37,000 tons.The Teius photovoltaic park is an installation with a tracker structure, which allows the panels to automatically follow the sun throughout the day, for more efficient energy production.The infrastructure of the Teius photovoltaic park also includes a 110/20kV, 80 MVA internal transformer station, built to the highest standards, to ensure the efficient integration of the energy produced into the national grid. (Photo: Eurowind Energy)

EU warns Romania to remove gas price cap or face legal action

Fri, 16 May 2025 00:00:00 +0300

The European Commission warned Romania on Wednesday to remove its cap on gas prices or potentially face legal action over the policy, which the EU executive branch said violates the bloc's energy market rules. Gas and power bills for Romanian households, small businesses and public institutions have been capped up to certain monthly consumption levels since November 2021, with suppliers compensated for the difference. In a notice published on Wednesday, the European Commission said the policy violates EU rules on the free formation of wholesale gas prices, since Romania's measure obliges firms to sell part of their production at a fixed wholesale price. "Regulated prices at the level of the EU-wide wholesale market distort price signals and effective market functioning," the Commission said. European wholesale gas prices began climbing in 2021 after Russia limited deliveries. Prices soared to record highs the following year when Moscow further slashed supplies after its February 2022 invasion of Ukraine. Romania's government has two months to respond to the EU warning, after which the Commission can refer the case to the EU's top court, if the matter is unresolved. Ahead of its May 18 presidential election run-off, Romania currently has an interim government which cannot issue decrees or introduce policies. Former Prime Minister Marcel Ciolacu resigned on Monday after hard-right eurosceptic George Simion won the first round of the presidential election re-run. The president elected this month will appoint a new prime minister. In February, the former government extended the gas price cap for a year, and prolonged the power price limits until June, to rein in consumers' bills. Romania produces almost all the gas it consumes domestically, through producers OMV Petrom, state-owned Romgaz and offshore producer Black Sea Oil & Gas.

Analyst: RON 5.1 to EUR is the threshold around which the fight is now taking

Fri, 16 May 2025 00:00:00 +0300

Romania's financial market is waiting to see where a new level can be found, and the threshold around which the fight is now being fought is RON 5.1 to the euro (EUR), according to XTB Romania strategy consultant Claudiu Cazacu."We have a much more volatile dynamic than the one we have become accustomed to on the exchange rate, once the threshold of RON 5 was broken. Uncertainty, emotion play an important role at the moment in the market, they played an especially important one yesterday. And now, traders are looking for a new equilibrium benchmark. Because, while so far we were used to levels slightly below RON 5 lei to the EUR, now, at over RON 5, we are trying to find the new benchmark. I think the market is partially waiting, although it seems hard to believe, it is waiting to see where a new level can be found. From my point of view, the volumes are much higher than usual in our estimate. The threshold around which the fight is now being fought is RON5.1. From my perspective, as a matter of opinion, I think the markets are eager to test levels above RON5.1, but I don't know if the central bank is also open to allowing too fast a move. So, I would say that we are following this level of 5.1 for today's session and in the short term. Of course, theoretically, anything can happen, but in practice I don't think that there is a market from which the central bank is absent, and it is not a market that is completely gripped by speculative fever. From a macro point of view, we needed a slightly weaker exchange rate for the leu and this was the moment when it was triggered," Cazacu said on Wednesday.Romania's national currency the leu (RON) depreciated on Tuesday against the euro (EUR), which was calculated by the National Bank of Romania (BNR) at RON 5.0378, up 6.03 bani (1.21%) from a previous quotation of RON 4.9775, an all-time high.Spokesman for the National Bank of Romania Dan Suciu said on Tuesday that the National Bank of Romania raised liquidity from the market after capital inflows decreased and outflows increased significantly, which led to an increase in interest rates.The three-month ROBOR (Romanian Interbank Offer Rate) index, based on which the cost of RON-denominated consumer loans with variable interest rates is calculated, rose on Wednesday to 6.47% per annum, from 6.08% per annum in the previous session, according to data published by BNR.

Concordia: Investors and business environment have some legitimate concerns

Fri, 16 May 2025 00:00:00 +0300

The exchange rate climbed on Tuesday towards the 5.1 lei/euro threshold, and this depreciation will be seen in higher prices for various products and services, interest rates have risen and are likely to remain high, which makes investors and the business environment have some legitimate concerns, said the executive director of the Concordia Employers' Confederation, Radu Burnete. 'After a long period of stability for the exchange rate (1-2 years), today we have seen a rapid rise towards the 5.1 leu/euro threshold, amid growing pressures on the foreign exchange market. The central bank has made efforts and intervened recently to defend the exchange rate, but this could not be done indefinitely. The depreciation of the leu will be seen in higher prices for various products and services (telephone, gas, petrol, etc.), which means higher inflation. However, Romanian products will become more competitive for export, which could help to reduce the trade deficit and balance Romania's external situation', Burnete explained. According to him, interests could be kept at a high level, due to the need to finance the state.'Amid all this uncertainty, interest rates have risen and are likely to remain high, given the government's pressing need for financing in the context of a very high deficit. The moment is a sensitive one, and investors and the business environment have some legitimate concerns,' Radu Burnete pointed out. The Stock Exchange in Bucharest reacted negatively at the results of the first round of presidential elections and at the changes on the political scene, while interests which indicate the cost of loans increased, and the exchange rate of leu/euro surpassed the psychological threshold of 5 lei on Tuesday.According to the BNR data, the euro was quoted to 5.0378 lei on Tuesday, up by 6.03 bani (1.21%) against the previous quotation, of 4.9775 lei, registering a historic maximum.The three-month ROBOR index, which is used to calculate the cost of variable-rate consumer loans in lei, rose to 6.08% p.a. from 5.90% p.a. in the previous session.

Nicusor Dan appeals for calm in the Euro/Leu Rate Instability

Fri, 16 May 2025 00:00:00 +0300

The independent presidential candidate, Nicusor Dan, who will face AUR leader George Simion in the second round of the elections, declared, in a press conference held on Tuesday, that there is no reason to panic, in the context in which the euro exchange rate exceeded the 5 lei threshold on Tuesday. “I send a message of calm and optimism regarding the developments in the financial market yesterday and today. Romania has a competitive private economy. The National Bank has a foreign exchange reserve of 60 billion euros, which can absorb any kind of attack on the leu. In the 2021-2027 financial year, Romania is now starting to absorb considerable amounts of European money, so there is no reason for financial panic,” Nicusor Dan said in a press conference. As for Marcel Ciolacu’s stepping down from the PM’s office , the independent presidential candidate replied: “I don’t think it was appropriate for Marcel Ciolacu to continue leading the Government after the November elections. It will be a temporary situation for two weeks, it happens all over the world.”

The first poll for the second round of the presidential elections, presented by Nicusor Dan

Fri, 16 May 2025 00:00:00 +0300

Nicusor Dan, ranked 2nd in the first round of the presidential elections, presented on Wednesday a survey conducted by Verifield that places him still behind George Simion before the final on May 18. According to the survey, George Simion has a score of 54.8%, while Nicusor Dan has 45.2%. It was conducted by telephone on May 6, on a sample of 944 people. The margin of error is +/-3%. Nicusor Dan presented an opinion poll only once before the presidential elections, a research for the first round, from March 24-28. The score presented in the Verifield survey at that time was quite close to the one obtained by Nicusor Dan – 20.8% compared to the final score of 21%, but with substantial errors in what it considered the other candidates. George Simion was underestimated in the Verifield survey by six percentage points – rated with 35% in the research, Simion obtained 41% in the first round. Similarly, Crin Antonescu was also underestimated – 16.4% compared to 20.07%, the score in the first round. Overestimated in that survey was Victor Ponta – rated with 21.1% in the survey, but with a voting result of 13.04%. Asked by reporters what he would do if George Simion won the elections, Nicusor Dan replied: “I don’t know what Romania would do, meaning the signal would be very, very bad for the economy. I’ve already seen it. I saw it on November 24, after Calin Georgescu won, I’ve seen it now, after George Simion got 40%.” The independent candidate was also asked about the threats Romania faces. “On the financial side, the risk is of inability to pay or the arrival of the International Monetary Fund to make the reforms that the government did not make. Here I said, we must look at the great evasion, we must look at the absorption of European funds, we must look at state spending and we must look at state companies”, Nicusor Dan replied. He said that “the second issue is security itself”. “And here we must adhere to the Strategic Partnership with the United States, we must participate in the European rearmament program and we must reform our army,” Nicusor Dan also declared.

Renew Europe endorses Nicusor Dan as President of Romania

Fri, 16 May 2025 00:00:00 +0300

Renew Europe endorses pro-European candidate Nicusor Dan, current mayor of Bucharest, in Romania’s crucial second round of presidential elections on 18 May, https://www.aldeparty.eu/ informs. Romanians are called upon to decide whether their country will continue to advance as a strong European democracy or risk sliding backward under the weight of populism and authoritarian temptations. “This is a moment for unity around shared European values. Renew Europe supports Nicusor Dan and its Romanian member party, USR, which threw its weight behind him in the presidential race,” Renew Europe President Valérie Hayer MEP. Renew Europe called on the S&D Group in the European Parliament to convey the same message to their Romanian member party, PSD, the only pro-European party in Romania that did not yet officially support Nicusor Dan. “European values are not optional, they are the very foundation of our Union, and the only candidate able to deliver on these is Nicusor Dan. An extremist candidate like George Simion poses a serious security threat not only to Romania, but to Moldova, Ukraine and the entire European Union. I call on all those who want a bright, European future for Romania to unite,” said ALDE Party and Renew Europe Vice-President Dan Barna MEP (USR, RO).

MAE:Only country threatening regional security in Europe, Russian Federation

Fri, 16 May 2025 00:00:00 +0300

Ministry of Foreign Affairs (MAE) spokesperson Andrei Tarnea said on Wednesday that the only country "threatening" regional security in Europe is the Russian Federation, with its illegal and unprovoked war marked by numerous war crimes against the civilian population in Ukraine and coupled with a Russian disinformation and propaganda campaign against the EU and NATO.MAE reacted to statements by the president of the Russian Federation regarding Romania."Romania's accession to NATO represents the sovereign will of Romania's citizens and allied nations. At the same time, Romania's NATO membership does not represent a security threat to anyone. This is concrete and provable. President Putin is using the same familiar narratives that served as a pretext for a brutal war of annexation," Tarnea emphasized. He said that Romania "will continue to defend its security interests in full sovereignty in its dual capacity as a NATO ally and an EU member state". Three years after the invasion of Ukraine, Russian President Vladimir Putin declared that Romania is to blame for the escalation of the conflict. The Kremlin leader states in the propaganda documentary "Russia. The Kremlin. Putin. 25 years" that Romania and Bulgaria have contributed to the tensions that led to the war in Ukraine by accepting American bases on their territories. The documentary broadcasted by the state TV channel Rossiya-1 includes archive footage of a speech by Putin attended by former German Chancellor Angela Merkel. "They are deploying their forces at our state borders. In Bulgaria and Romania, so-called light advanced American bases have appeared, one in each country. And we have every right to openly ask: against whom is this expansion taking place?" Putin said in 2007. Russian President then explains the statements he made in the presented speech: "This is the message I wanted to convey to our partners and colleagues, hoping they would listen to us and correct their attitude towards Russia. But, unfortunately, we were not listened to. I mean, they heard, but did not react properly. Ultimately, this led to the tragic events in Ukraine today."

Ilie Bolojan: We are living in a complicated period fraught with challenges, requiring professional response

Fri, 16 May 2025 00:00:00 +0300

We are living in a complicated period, fraught with challenges, and these require a firm response, based on professionalism, cooperation and fidelity to constitutional values, acting President Ilie Bolojan declared on Wednesday at the Cotroceni Presidential Palace, as he welcomed a delegation of the Association of Francophone Constitutional Courts (ACCF)."The Association of Francophone Constitutional Courts is an essential platform for promoting the rule of law, democracy and fundamental rights in the French-speaking area," Bolojan stressed, adding that through the voice and actions of its members, this umbrella organization of rule of law guardians "supports democratic values, from the separation of powers in the state to the defense of fundamental rights and freedoms.""When constitutional courts act in solidarity, share best practices and support each other, the citizens' assurance and trust in respect for the constitutional order stands to gain," added the acting president.Bolojan brought to mind that the Constitutional Court of Romania takes over the Association's presidency on Wednesday, "an important responsibility which requires coordination, representation and promotion of common goals.""Romania supports this mandate and remains a reliable partner in the French-speaking area," the head of the state pointed out.In the end, Ilie Bolojan called for cooperation, arguing that "when states cooperate, they become stronger and their institutions are more functional, and the exchange of experience helps adapt to a constantly changing international environment."

EY Survey: Employee mobility critical to addressing talent gaps amid rising cost pressures

Fri, 16 May 2025 00:00:00 +0300

Cost pressures and uncertain labor markets demand that employee mobility becomes a critical focus as companies worldwide use it as a strategic tool to help solve talent shortages, according to the EY 2025 Mobility Reimagined Survey. The survey canvassed the views of 1,074 mobility professionals across 22 countries revealing significant differences in how leading organizations address talent gaps and GenAI implementation compared with those that are struggling. Demand for global talent at an all-time high With the demand for global talent surging, the survey finds that 48% of employers are struggling to find the required talent to meet their business needs, while 74% report that filling senior positions can take more than a year. The findings underscore the pivotal role of mobility in driving organizational growth and enhancing talent attraction and retention. An impressive 85% of respondents indicate that mobility assignments can be transformative, with nearly half (48%) stating that such experiences increase their likelihood of staying with their employer. Additionally, companies with mobility programs that are integrated with wider organizational and talent goals are more than twice as likely to experience 10% revenue growth. Claudia Sofianu, Partner, People Advisory Services Leader, EY Romania, says: “Employee mobility has emerged again as a strategic priority for companies worldwide. In the past, it often addressed a shortage of expertise, particularly for senior roles. Today, however, the focus has shifted to aligning with business needs amid an unprecedented demand for talent. As organizations face a competitive job market, effectively moving talent across roles and locations is essential. This evolution underscores the importance of strategic workforce planning and fostering a culture that supports mobility, enabling companies to attract and retain top talent.” Evolving mobility functions face pressures to do more with less The EY survey finds that an overwhelming 96% of mobility professionals express a desire to reduce costs. Evolved mobility functions are more adept at tracking performance ratings (68%), revenue impact (63%), promotion rates post-assignment (59%) and speed to fill vacancies (53%). Seeking twice as many cost-reduction measures compared to their counterparts, evolved mobility functions boast double the number of fully automated and outsourced processes. This strategic approach underscores a commitment to enhancing efficiency and maximizing value in an increasingly challenging economic environment. Preparing for GenAI solutions in mobility The 2025 Mobility Reimagined Survey highlights a growing readiness among mobility professionals to embrace GenAI, with 70% believing it will positively impact their functions, influencing flexible working, employee productivity, and risk management. The number of mobility professional respondents routinely using GenAI jumped from 22% to 35% year-on-year. With GenAI taking some of the burden of day-to-day tasks – like routine document preparation, or the retrieval and drafting of data analysis from multiple functions – mobility professionals are then able to provide higher-level talent consultation to HR and the executive team. Corina Mindoiu, Partner, People Advisory Services, EY Romania: “Amid rising cost pressures and an unprecedented demand for specific skills, global mobility teams have to become an even more strategic partner to organizations. In these uncertain times, global mobility teams must play a pivotal role in reshaping mobility strategies to effectively address talent shortages, business needs and disruptive trends. Embracing evolved mobility programs can significantly impact revenue and foster a culture that attracts the right talent in today’s landscape.”

Number of companies that suspended their activity, down by 16.4% in first quarter of 2025

Fri, 16 May 2025 00:00:00 +0300

The number of companies that suspended their activity in the first quarter of 2025 was 5,028, down 16.4% compared to the same period in 2024, according to data published by the National Trade Register Office (ONRC).The most companies that suspended their activity were from Bucharest, respectively 570 (a number down by 21.05% compared to the first three months of 2024), the Capital being followed by the counties of Cluj, with 310 suspended companies (minus 6.91%), Bihor - 245 (plus 3.38%), Iasi - 226 (minus 15.67%), Neamt - 211 (plus 11.05%), Sibiu - 198 (minus 4.81%), Suceava 193 (plus 19.14%) and Brasov - 191 (minus 28.73%).At the opposite pole, the fewest suspensions were recorded in the counties of Caras-Severin - 28 (minus 46.15% compared to January-March 2024), Ialomita -31 (minus 18.42%), Mehedinti - 35 (minus 32.69%), Teleorman - 36 (minus 18.18) and Covasna 38 (plus 8.57%).The largest increases in the number of suspensions were recorded in the counties of Gorj (41.46%), Vrancea (28.22%) and Calarasi (plus 22.41%), while the most significant decreases were recorded in the counties of Dambovita (minus 61.08%), Galati (minus 48.72%) and Caras-Severin (minus 46.15%).By activity area, the largest number of suspensions was recorded in wholesale and retail trade, repair of motor vehicles and motorcycles, respectively 818 (minus 41.78% compared to January-March 2024), construction 360 (minus 36.2%) and in professional, scientific and technical activities - 329 (minus 47.36%).For the month of March, 1,721 suspensions of activity were communicated, most in Bucharest (214) and in the counties of Cluj (131), Neamt (77) and Sibiu (75).

Infinexa Strengthens Its Management Team, Appoints Mircea Somlea as Partner – Former Executive Who Managed Non-Performing Loans at CEC Bank

Fri, 16 May 2025 00:00:00 +0300

Infinexa, a Romanian entrepreneurial company specializing in the restructuring and financing of distressed businesses, with €170 million in assets under management, announces the strengthening of its leadership team through the appointment of Mircea Somlea(Photo) as Senior Partner. Mircea Somlea brings over 10 years of experience in banking, focused on managing corporate non-performing loans and leading restructuring processes for both large companies and SMEs. For six years, he served as Deputy Director at CEC Bank, where he coordinated the corporate NPL portfolio and handled some of Romania’s most complex recovery projects. “My goal is to help consolidate Infinexa’s position as a leader in the restructuring field and to jointly develop innovative solutions that effectively respond to the complex challenges facing the Romanian business environment,” said Mircea Somlea, Senior Partner at Infinexa. Adrian Lotrean, Managing Partner of Infinexa, added: “Mircea’s experience brings valuable diversification to our in-house expertise, especially in strategic management and the perspective of institutional banking creditors. This step is essential for delivering added value to all our stakeholders and efficiently managing the complex projects in Infinexa’s portfolio.” Founded just two and a half years ago, Infinexa already manages 45 active projects, with over €170 million in assets under administration and a team of 15 professionals. Insolvency practitioners Alexandra Tanasie and Alexandru Stanciu, who have significantly contributed to the company’s growth, have been promoted to Partner status, also taking on coordinating roles in the firm’s local subsidiaries. INFINEXA is a Romanian entrepreneurial company specializing in the restructuring and financing of companies in distress. Founded in 2022, it manages assets worth over €170 million and serves as court-appointed administrator for companies such as Blue Air, Vivre Deco, Hidroconstruc?ia, and Angst.www.infinexa.ro

Official: Over 50pct of Romania's capital market generated by state-owned companies

Fri, 16 May 2025 00:00:00 +0300

The business sectors should have a greater representation within the Bucharest Stock Exchange (BVB), because, today, over 50% of the capital market is generated by state-owned companies, Mihai Precup, senior official with the Chancellery of the Prime Minister and chairman of the Interministerial Council for the Application of State Aid Policy, said on Monday.He participated in the release if the BVB Arena book: 15 companies for the growth of the Romanian economy and their success stories, which will mark the end of the current edition of the BVB Arena program. At the same time, a new edition, BVB Arena 2025, begins, with the first stage, of nominating companies."I am very happy to be at the seventh edition of the book. Today we end the cycle for 2024. I can't wait to see what happens in 2025 Arena - and the name you have chosen is very inspiring. The arena is about performance, about transparency, corporate governance. Recently, I participated in a discussion (...) and the conclusion was that we have investors, we have money, pension funds interested in coming to the capital market. What we lack are opportunities. Today, looking carefully at the seventh edition, I saw how many large and interesting companies we have and potential candidates for the Bucharest Stock Exchange and I want to see more candidates on the Bucharest Stock Exchange, because remember what I am telling you: we need a greater representativeness of the business sectors within the Bucharest Stock Exchange. Today, as you well know, I dare to say that the Romanian government has done its job in a way, because over 50% of the capital market is generated by state-owned companies. This ranking, this book show that there are candidates, we can have companies that compete with the state-owned ones, that attract capital to the Bucharest Stock Exchange," Precup said.He also referred to the Fidelis government bonds, which gave the opportunity to some people to invest in the Romanian capital market, and later to turn to shares or other types of financial investments."We also have the Fidelis government bonds, where the state once again played an extremely important role, because thousands of retail investors participated, who normally might not have come to the capital market for the first time if it were not for this opportunity to invest in Fidelis securities. And so, through these government bond issues, we have given the opportunity to some people to come and invest in the capital market and who at some point will turn to shares, to other types of investment, to companies. I remember, when I accepted the challenge of becoming secretary of state for the first time at the Ministry of Finance, my mother told me what kind of person I wanted to be. And I said, 'Okay, what does that mean?' And I asked her what the difference was. Being a leader means thinking about the next generations, a leader in the central administration thinks about the next elections. In this book I have seen a lot of entrepreneurs who think more about the next elections than about the next financial year and I think it is about these entrepreneurs, and I hope to see you in the arena of the Bucharest Stock Exchange, on the capital market," Precup told the representatives of the companies in attendance.

Romania, Kazakhstan start talks over 10-year uranium supply agreement

Fri, 16 May 2025 00:00:00 +0300

Romania and Kazakhstan have started talks over a 10-year agreement between KazAtomProm and Nuclearelectrica on uranium supply, according to senior official with the Ministry of Energy Casian Nitulescu.He led, April 28-29, 2025, a team of the Ministry of Energy to a meeting of the Kazakhstan-Romania Energy Working Group in Astana, Kazakhstan."We had constructive talks with Energy Minister Erlan Akkenzhenov, Deputy Energy Minister Ilyas Bakytzhan, Deputy Foreign Minister Roman Vassilenko and Chairman of the Agency for Nuclear Development Almassadam Satkaliyev. We also had important meetings with the management of KazAtomProm. We discussed strengthening energy collaboration, supply security, tax policies with an impact on companies running on Kazakh capital in Romania and possible new business projects. A key point: the opening of discussions for a 10-year agreement between KazAtomProm and Nuclearelectrica on the supply of uranium,"Nitulescu writes in a social media post.He adds that Romania is also interested in the transfer of technology for beryllium processing, and KazAtomProm invited the Romanian side to visit the metallurgical plant in Ulba in July."An important step toward strengthening the Romanian-Kazakh energy cooperation," according to the official of the Ministry of Energy.The Romanian team also included Gelu Maracineanu, general manager of the Feldioara Uranium Concentrate Processing Plant - Nuclearelectrica, as well as the Romanian ambassador to Kazakhstan, Madalina Lupu.

Economic analyst cautions against harm inflicted on the economy by Simion - Georgescu duo

Fri, 16 May 2025 00:00:00 +0300

The harm done to the economy by the Simion + Georgescu duo in just 2 days after the first presidential election round is worse than that inflicted by the Covid-19 pandemic, or the first two days after the outbreak of the war in Ukraine, considers economic analyst Iancu Guda.He pointed out that on Tuesday afternoon the EUR/RON intraday rate was 5.0985, and if the National Bank does not step in, it could rise past 5.1."The National Bank is doing a very good job: why should we sacrifice the national reserve (3 billion euros have already been burned in 2 days) for 40% of isolationist arsonists. Let them see the effects... let them feel the heat and understand. Georgescu + Simion = National Bankruptcy!!!," Iancu Guda explained on his Facebook page.He went on to note that the state can no longer finance the deficit, "that is, the coffers are out of money for pensions and salaries"."Today already no one buys RON-denominated government bonds any more, and access to foreign markets is closed. A weak RON = Expensive imports = High inflation = Rising interest rates. Consumption goes down, insolvencies, unemployment, recession. The conclusion ??? Generalized poverty! Plus many other negative effects after the second round," the economic analyst notes.The Bucharest Stock Exchange reacted negatively to the results of the first round of the presidential election and to the changes on the political scene, while the interest rates used to calculate the cost of loans went up, and the RON/EUR exchange rate topped the psychological threshold of RON 5 on Tuesday.Alliance for the Unity of Romanians (AUR) candidate George Simion took a comfortable lead in the first round of the election, with 3,862,761 votes (40.96%), followed by independent candidate Nicusor Dan with 1,894,259 votes (20.95%), according to data announced Monday morning by the Central Electoral Bureau after the count of 98.52% of the valid ballots.On Monday, Prime Minister Marcel Ciolacu tendered his resignation from the helm of the government and on Tuesday, acting President Ilie Bolojan signed the decree appointing Catalin Predoiu as caretaker prime minister to fill the office until the installation of the new government.

Reuters: JPMorgan goes long euro vs Romanian leu in FX spot market

Fri, 16 May 2025 00:00:00 +0300

Wall Street bank JPMorgan said on Tuesday it was going long on the euro versus the Romanian leu in FX spot markets, with the country's intervention policy seemingly shifting after Sunday’s first-round presidential election, https://www.reuters.com/ informs. . The bank said that the leu's movements following the win of George Simion, the country's hard-right eurosceptic opposition leader, in the first round of Romania's presidential election re-run on Sunday raised the chances of a devaluation. In a recent note, the bank had sketched out scenarios including a 3-5% devaluation and a 15-20% devaluation. "We would argue for a 50/50 probabilities between the two devaluation scenarios but the developments on the ground will matter hugely as well," JPMorgan's Anezka Christovova said in a note to clients. However, Christovova said that a different second round outcome of the presidential elections or a change in Simion's rhetoric would alter these probabilities. "We...go long EURRON spot (assuming daily rolling of funding) aiming initially for a 5% total move from pre-intervention levels."

Colonel Marian Barsan: SEESOF 2025 will consolidate and coagulate FOS structures in Black Sea area

Fri, 16 May 2025 00:00:00 +0300

Chief of Staff of the Special Operations Forces Command, Colonel Marian Barsan declared on Tuesday at the conference promoting the Southeast Europe Special Operations Forces Forum 2025 (SEESOF 2025) which will take place in Targu Mures on June 4 - 5 that this event will consolidate and coagulate the SOF structures in the Black Sea region."We expect it to reinforce Romania's position as a regional pole in this field, as around 15 allied and partner states have already announced their presence with military delegations from the field of special operations, plus there is the part dedicated to the companies in the defense industry; it will also promote the national defense industry. (...). It will facilitate the exchange of ideas in areas of interest for both national security and the local community. The forum will consolidate and coagulate Black Sea region SOF structures around us, and will provide a platform for defense industry operators to interact with Romanian special operations forces, as well as with those participating in the activity," said Colonel Barsan.SEESOF 2025 which will be organized at the campus of the Targu Mures University of Medicine, Pharmacy, Sciences and Technology by TNT Productions Romania with the support and participation of the National Defense Ministry, "will put the city of Targu Mures on the international map of professional events dedicated to the military industry and business," said the Colonel.June 3 be dedicated to welcoming the foreign delegations at the Command headquarters, to bilateral meetings and the signing of bilateral cooperation agreements in the field of special operations. June 4 - 5 will see discussions and debates conducted within five panels, with the participation of national and international representatives. The themes of the panels are: "Challenges for the Southeastern European SOF and the future of conflict", "Industry support of SEESOF needs for building regional trust","Human Performance and resilience - a medical perspective on the future challenges to force preparation and sustainment", "Women in combat, women in command", and "Resilience"In the current geostrategic context, said Colonel Barsan, and especially after the outbreak of the war in Ukraine, Romania is taking on an increasingly important role in NATO's plans. He recalled that last year the Romanian and Bulgarian Parliaments approved the establishment of the Regional Special Operations Component Command based in Targu Mures, and that towards the end of 2024, Turkey expressed its intention to join."We are in full administrative procedures for Turkey to join this project, a project of particular importance for Romania, because it will ensure, in case of crisis and war, the coordination and synchronization of the actions in the field, special operations in our region, and this will be done from Romania, from Targu Mures," concluded Colonel Barsan.Rector of the 'George Emil Palade' University of Medicine, Pharmacy, Sciences and Technology in Targu Mures Leonard Azamfirei stated that SEESOF 2025 will bring forward various structures, that universities will play an important role, and that UMF Targu Mures is interested in using opportunities of accessing funding for defense research.Over 3,000 participants from over 20 countries are expected at the first edition of the international expo-forum dedicated to Special Operations Forces - SEESOF 2025. The event is also expected to draw some 3,000 visitors from roughly 23 countries. (Photo:https://www.facebook.com/photo/?fbid=1127886802711661&set=pb.100064710547564.-2207520000)

Interim Prime Minister Catalin Predoiu takes office

Fri, 16 May 2025 00:00:00 +0300

Romania is and must remain a resilient democracy, a country whose development objectives remain anchored in Euro-Atlantic values, interim Prime Minister Catalin Predoiu said on Tuesday.According to a government press release, interim Prime Minister Catalin Predoiu has taken office at the Victoria Palace of Government, under Presidential Decree number 623, published in the Official Journal 401 of May 6, 2025.'The Romanian Government will continue its work under the interim conditions, as established by the Constitution and the laws. Continuity and governmental coherence are important for the smooth running of public affairs, but also for the predictability and balance of private economic circuits, for the financial markets, for the interests of all Romanian companies, civil society, all Romanian citizens, wherever they may be. This interim mandate is taking place in an important electoral context for all Romanian citizens,' Catalin Predoiu, was quoted as saying in the press release.The interim prime minister assured that the executive institutions will fulfill their duties and competences with 'fairness, transparency and full legality', so that Romanians will be able to exercise their vote freely and in public safety, as happened in the first round of the presidential elections, held a few days ago.At the same time, he said that although it is only an interim mandate, the Government will remain an open interlocutor for Romania's social partners, investors, and foreign partners. *** Catalin Marian Predoiu was born on August 27, 1968, in Buzau, Buzau County.He is a class of 1991 Faculty of Law of the University of Bucharest graduate. In 2003, he got a Doctor of Law degree Summa Laudae from the University of Bucharest. He completed his university studies in 1994, when he took an internship in the legal profession at the Caen Bar, France.He was a professor at the Faculty of Law, University of Bucharest (1994-2007). In 1991 he became a member of the Bucharest Bar Association. In 2021 he operated his own legal firm.As far as his political activity is concerned, Predoiu joined the Liberal Democratic Party (PDL) on July 5, 2013. He was first vice-president of PDL (2013-2014). On July 26, 2014, an extraordinary convention of the Congress of the National Liberal Party (PNL) passed a protocol of merger with PDL, the statutes and political agenda of the new party and the protocol of the electoral alliance - the Christian Liberal Alliance (ACL).He was first vice-president of PNL (2014-2017) and chairman of PNL Bucharest (Dec. 2015-June 2016).In the 2014 presidential election, the National Political Bureau of the merged PNL-PDL decided to pick Predoiu as a candidate for the position of prime minister of the Christian Liberal Alliance, with Klaus Iohannis being their presidential candidate.On May 18, 2016, he officially launched his candidacy for the Bucharest City Hall.In the 2016-2020 legislature, he was elected MP in the electoral constituency no. 12 Calarasi, on the PNL tickets. On December 6, 2020, he was re-elected to the Chamber of Deputies in electoral constituency 31 Prahova, on the PNL tickets.He was a justice minister in the cabinet led by Calin Popescu Tariceanu (Feb.-Nov. 2008) and in the cabinet led by Emil Boc (Dec. 2008-Oct. 2009); interim justice minister after the Boc Government was dismissed under a motion of censure by Parliament (Oct. 2009) and interim foreign minister (Oct. 2009); justice minister in the Boc IV cabinet (23 Dec. 2009 - 6 Feb. 2012); justice minister in the Ungureanu government (9 February 2012 - 7 May 2012); justice minister in the Ludovic Orban government (Nov. 2019-Dec. 2020); justice minister (Nov. 2021-15 Jun 2023), caretaker prime minister (12-15 Jun 2023) and home affairs minister since 15 Jun 2023.On December 23, 2024, Predoiu was picked for home affairs minister in a government formed by Marcel Ciolacu after the December 1, 2024 general election. He was again caretaker prime minister on February 6, 2012, replacing resigning Prime Minister Emil Boc pending the formation of a new government.He has published numerous studies, special works, and political opinion articles.In 2003, he was awarded the I.L. Georgescu prize of the Romanian Jurists' Union and the Simion Barnutiu prize of the Romanian Academy. (Photo:https://www.facebook.com/photo/?fbid=1205746484249373&set=pb.100044420979748.-2207520000&locale=ro_RO_

EPP: The Romanian Socialists failed to show European commitment

Fri, 16 May 2025 00:00:00 +0300

The EPP Group denounces the Romanian Socialist Party's decision not to support the pro-European presidential candidate, Nicusor Dan, in the second round of the Romanian presidential election. "The decision of the Social Democratic Party of Romania is simply unacceptable. I expect a clear commitment from them to back the only pro-European candidate. In the face of rising extremism across Europe, there is no room for political games,” declared Manfred Weber MEP, the Chairman of the EPP Group in the European Parliament. “Romania plays a pivotal role within the EU, particularly in safeguarding the European Union’s security, given its position on the border with Ukraine. An anti-European, populist, and extremist candidate such as George Simion, who has been banned from entering both Ukraine and the Republic of Moldova, poses a threat not only to Romania’s security but also to that of the European Union as a whole,” said Siegfried Muresan MEP, Vice-Chair of the EPP Group in the European Parliament. “The EPP Group fully backs the decision of the EPP member parties, the National Liberal Party and the Democratic Alliance of Hungarians in Romania, to show their support for Nicusor Dan. A political party’s true commitment to Europe is shown through real decisions at important times like this, not just through statements or impressive wording in party documents,” concluded Weber and Muresan. *** The EPP Group is the largest political group in the European Parliament with 188 Members from all EU Member States

CFA Romania: The main short-term risk for Romania's economy is the risk of being downgraded to the non-investment category

Fri, 16 May 2025 00:00:00 +0300

The main short-term risk for Romanian economy, in the context of unsustainable twin deficits, there is a risk of being downgraded to the junk category, according to Adrian Codirlasu, president of CFA Romania.'In the context of unsustainable twin deficits, the main short-term risk for the Romanian economy is the risk of being downgraded to junk status. This risk is closely linked to the necessary fiscal consolidation requested by the rating agencies to bring the budget deficit within the sustainability zone within a reasonable timeframe,' he said, according to a CFA Romania press release . In March, the Macroeconomic Confidence Indicator of the CFA Romania Association rose by 7.3 points to 43.9 points, which was due exclusively to the increase in the expectations component of the indicator, while the current conditions component remained relatively similar to the value recorded in the previous year. A supplimentary question introduced in the survey made monthly by CFA Romania refers to anticipations regarding Romania’s downgrading in the category of junk status. According to the results, 82% of the participants anticipate keeping, for the next 12 months, Romania in the category of recommended for investments, while 18% anticipate downgrading in the junk category.By comparison, statistically speaking, when an issuer's outlook is revised from 'neutral' to 'negative', one in three issuers is downgraded in the next 12 months. Also, the weaker the rating (e.g. BBB-, BB+), the higher the risk of downgrading after a negative outlook, CFA Romania's specialists explain. The projected state budget deficit for 2025 remained similar to the previous year, at an average forecast of 7.4% of GDP. The economic growth expectations of CFA Romania's specialists for the year 2025 are lower than in the previous year, averaging 1.0%, and there are also opinions among the participants regarding a possible recession of the Romanian economy. Public debt as a percentage of GDP is expected to increase to 58% over the next 12 months. Also, according to the survey, the expected inflation rate for the 12-month horizon (April 2026) has decreased compared to 4.85% in March and reached 4.65%. As regards the EUR/R RON exchange rate, about 79% of participants expect the leu to depreciate over the next 12 months, while the rest expect the exchange rate to stagnate. Thus, the average value of expectations for the 6-month horizon is 5.0311 lei for one euro, while for the 12-month horizon, the average value of the EUR/R RON exchange rate is 5.0735 lei for one euro. As regards the evolution of residential property prices in cities, 61% of participants anticipate stagnation over the next 12 months, while 29% anticipate a decrease. In addition, 74% of participants believe that current prices are overvalued and 21% that they are correctly valued. The survey has been made monthly by the CFA Association Romania for over 13 years, and represents an indicator through which the organisation wants to quantifiy the anticipations of financial analysts with regard to economic activity of Romania for a horizon of one year. The survey is made in the last week of each month, and the participants are members of the Associaton CFA Romania and candidates for levels II and III of the CFA exam.The Macroeconomic Confidence Indicator takes values between 0 (lack of confidence) and 100 (full confidence in the Romanian economy) and is calculated on the basis of 6 questions on: current conditions - regarding the business environment and the labour market; expectations for a one-year time horizon for: the business environment, the labour market, the evolution of personal income at economy level and the evolution of personal wealth at economy level. In addition to the questions needed for the calculation of the Macroeconomic Confidence Indicator, the survey also assesses expectations, also for a one-year time horizon, for the inflation rate, interest rates, the EUR/RON exchange rate, the BET stock index and global macroeconomic conditions.

ING Report: Romania's nominal GDP could exceed €700bn in 2034

Fri, 16 May 2025 00:00:00 +0300

The nominal GDP of Romania could exceed 700 billion euro in 2034 and it could get closer to 800 billion euro in 2035, with a growth rhythm of approximately 3% annually and similar medium inflation, according to the macro-economists of ING Bank.These estimates would position Romania in competition with countries such as Austria and Sweden for the top 10 economies in the EU, says the press release of the bank.At the same time, the living standard of the Romanians will improve significantly, being reflected by the growth of GDP/ capita, expressed in purchasing power parity (how much a country’s citizens can buy with their income compared to citizens of other countries). Thus, from around 55% of the EU average in 2013, Romania has already climbed to almost 80% today.'By 2035, we expect a robust, mature and diversified economy with a better balance between domestic demand and local supply. Sectors such as IT, construction and automotive can become the backbone of the economy, alongside currently still emerging industries such as renewable energy. The modernisation of physical and digital infrastructure, fuelled by European funds, will reduce regional development gaps. Overall, by 2035, we have a real chance of reaching unprecedented levels of prosperity,' said Valentin T?taru, chief economist of ING Bank Romania, quoted in the press release. According to the quoted source, investments, especially those financed from EU funds and those drawn through foreign direct investments, will mean a main factor in the growth of GDP for the next decade.Efficient absorption of European money (approximately 28 billion euro from PNRR until 2026 and another 50 billion allocated through EU budget 2021 – 2027) may stimulate modernization of infrastructure and human capital, generating ‘ a major boom’ for the economy.Also, the trend towards nearshoring (relocating production closer to Western markets) may make Romania a preferred destination for new investment, as long as labour remains available and competitive. 'Romania has great chances to become an increasingly attractive destination for foreign investors over the next ten years, provided stability is maintained and reforms are implemented. A first determining factor will be macroeconomic stability - i.e. controlled budget deficit, low inflation and a relatively predictable leu. Investors value predictability, and achieving the fiscal targets (deficit below 3% of GDP) and consolidating public finances will increase confidence. Infrastructure improvements will also increase attractiveness. As motorways, modernised railways and ports are developed (including with the help of EU funds), logistics costs come down and Romania becomes more convenient as a production and distribution hub. Romania could become one of the favourite destinations for western companies relocating their production closer to home. This nearshoring is already visible in new investments in production (for example, some producers of car parts or electronic equipment chose Romania as regional base). With clear strategy for the promotion of investments, Romania may put to value the statute of sixth country as population of the EU in order to draw foreign capital flows for the years 2025 – 2025’ said Valentin Tataru.The IT&C sector, which has demonstrated its resilience and growth potential, will grow at an accelerated pace, according to ING macroeconomists. Romania has real potential to become a regional IT&C hub and an innovation leader. Integration into global IT chains is already strong - major corporations have development centres here and the local tech startup ecosystem is expanding. Romania's economy will be significantly improved by the integration of AI and blockchain, and the country can be transformed into a tech creator. Another industry with growth potential is that of renewable energy and green technologies. EU commitments regarding climatic changes as well as the natural resources of Romania (high wind potential in Dobrogea, good conditions for solar power, etc.) will boost investment in wind, solar and green sources parks. It is estimated that by 2034 almost half of the end consumption of the country’s energy could be covered from renewable sources, which means quick development of this sector.At the same time, high-tech manufacturing industries will grow: e.g. electronics and automotive (including production of electric vehicles and batteries). Thus, industries anchored in innovation, technology and sustainability will be the 'stars' of economic growth until 2035, gradually shifting the structure of the economy towards a more technologically advanced one. As regards Romanian agriculture, the future of this sector by 2035 will depend on the capacity to adapt to climatic changes and the level of take-up of new digital technologies. EU programmes and funds for rural digitization will support this process. In the optimistic scenario, in 2035 we will see a more climate resilient Romanian agriculture, with medium and large farms well technologized and connected to digital markets.The report notes that wages in Romania tend to rise faster than inflation. Specifically, from January 2007 (when Romania joined the European Union) until the beginning of this year, the average net wage has risen by about 480%, while prices have increased by 125%. This process of wage convergence with the EU is likely to continue until 2035 as the economy grows. In terms of investments, real estate is likely to remain at the top of Romanians' top choices, according to ING macroeconomists, as property is perceived as a safe and tangible haven. Romania already has the highest rate of home ownership in the EU (~95% of Romanians live in their own home), and investments in apartments or land will continue to be attractive, especially amid urbanisation and economic growth. Even so, we will see an increased appetite for financial investments. More and more Romanians are discovering the stock exchange: the main BET index has had a total return (including dividends) of almost 400% over the past decade, demonstrating the potential for capital market gains. ING Bank Romania is part of ING Group, a global international financial institution offering banking services to more than 38 million individual, corporate and institutional customers in over 40 countries. Founded in 1994, ING Bank Romania is today a universal bank, offering products and services to all categories of customers - large and small companies, financial institutions, small entrepreneurs and individuals.

BVB reacts negatively to the result of first round of presidential elections

Fri, 16 May 2025 00:00:00 +0300

The stock market reacted negatively to the election results, and volatility could manifest itself until the result of the second round of the presidential elections, but we cannot talk about panic, say brokers on Monday."What is happening now on the market is a result of the election results and investors' concerns about what will happen in the second round. Definitely after the second round, things will become certain, meaning we will see the direction the economy, the country, what will happen. Investors' concern is that, depending on the election results, there will be a reaction from international markets, especially from international financiers. And then, I think that what we see now in the market is a precaution, let's say, from investors. They are waiting. I think that for two weeks, we will still have volatility," explained Ovidiu-Lucian Isac, general director of Estinvest.For his part, Antonio Oroian, a broker at Goldring, said that a negative reaction to the election result is now visible, "especially in light of the rather high result obtained by the far-right candidate.""However, given the trading volumes, we cannot speak, at least for now, of a panic among investors. Even so, we are entering political instability again, if we look at the tensions in the governing coalition, and this instability does not help us at all, neither in fiscal-budgetary issues, nor in the perception of foreign investors and rating agencies," Antonio Oroian emphasised.Also, Alin Brendea, a stock analyst at Prime Transaction, believes that the market reaction was negative, but moderate."Any signal that Romania is heading towards an isolationist destination towards the European Union and NATO has the potential to negatively affect market sentiment, in an economy still largely dependent on foreign investment and European funds to maintain its financial balance and economic growth," said Alin Brendea.The Bucharest Stock Exchange (BVB) opened Monday's trading session with a decline in all indices, and the turnover amounted to 26.46 million lei (5.3 million euros), 35 minutes into the trading. Stock market indices recorded decreases between 1.38% and 2.11%.

PresidentialElection2025/ ODIHR observers: Key aspects of elections left without sufficient oversight

Fri, 16 May 2025 00:00:00 +0300

Key aspects of the elections were left without sufficient oversight, with the authorities' response, although improved, fragmented and lacking transparency, shows a preliminary report presented by the OSCE Office for Democratic Institutions and Human Rights (ODIHR) observation mission at a press conference on Monday."The recent efforts of the Romanian state authorities to improve electoral integrity are noteworthy. The elections were managed efficiently. However, they were marred by insufficient oversight of key aspects of the campaign," said Lucie Potuckova, head of the OSCE Parliamentary Assembly.She referred to inauthentic content online and praised the legislative framework as adequate, adding, however, that "the recent changes have not sufficiently addressed the problems that impact public trust".The OSCE representative said news coverage in media outlets was balanced, while others "reflected political affiliations".In conclusion, Potuckova said that the first round of elections was managed efficiently, "but more transparency and legislative certainty is needed for the benefit of both voters and candidates".She added that oversight of the online environment is fragmented between institutions, leading to "fragmented responses and limited transparency".In his turn, ODIHR Head of Mission Eoghan Murphy said their role is not "to police the online environment, nor to count fake content or cases of coordinated manipulation", but to see "whether authorities are prepared and able to detect and react to such activities".He recalled that during the campaign period, more than 450 online accounts were flagged by the Ministry of Internal Affairs (MAI) and 240 by the National Communications Administration and Regulation Authority (ANCOM), while the Central Electoral Bureau (BEC) notified the Permanent Electoral Authority (AEP) of about 200 accounts with false information.The expert noted that "a lack of consistency of decisions and lack of information in handling these cases has led to confusion among candidates and supporters about what is allowed and what is not allowed".In this regard, Murphy pointed out, there is limited information on what platforms have done in cases of false information. Moreover, some of these deleted messages have reappeared online.In the case of Romania, he said, there have been online attempts to influence the views of some posts, the use of bots, troll farms and AI-generated material to amplify or suppress the candidates' content."The authorities have made efforts to bring improvements in the field, but we have noticed that the reaction has been fragmented and not transparent. For example, we have seen a statement from ANCOM, one from MAI, another from BEC about accounts targeted for inauthentic content or other reasons. We don't know if these are the same accounts, we don't know what is behind these accounts and we don't know if they have been closed," the expert detailed.The OSCE representative said that "the authorities have the final say on whether there has been foreign interference" (in the presidential elections, editor's note).As for the journalistic coverage of the elections, Murphy noted that "the intense and non-transparent funding of some media by political parties undermines the pluralistic nature of the field"."We don't think the public knew which media messages were paid for and which were not on private television. It is a condition for informed elections," he added.The OSCE mission will remain in Romania until May 25 and will publish a final report after the second round of the presidential elections, with possible recommendations for the Romanian authorities.

PresidentialElections2025/Nicusor Dan: Let's focus in these two weeks on the presidential elections of May 18

Fri, 16 May 2025 00:00:00 +0300

Independent candidate Nicusor Dan, who entered the second round of the presidential elections, expressed hope that Romanians will make the right choice in 18 years, when they will choose between a pro-Western and an anti-Western direction.He proposed that in the two weeks until the second round, only the presidential elections be discussed, because "the societal debate will take Romania in the right direction.""In the next two weeks, the voice of politicians will matter much less than the voice of the people. (...) Now, Romania has a very important choice to make in the elections on May 18, between a pro-Western direction, an anti-Western one, a pro-economy one and one that, you saw the signals on the stock market today, is anti-market economy. This is the only thing we need to discuss until May 18.". (Photo:https://www.facebook.com/NicusorDan.ro/?locale=ro_RO)

PresidentialElection2025/AEP - final results: George Simion - 40.96%; Nicusor Dan - 20.99%

Fri, 16 May 2025 00:00:00 +0300

George Simion, the Alliance for the Union of Romanians (AUR) candidate, garnered 3,862,761 votes (40.96%) in the first round of the presidential election, according to data published Monday on the website of the Permanent Electoral Authority (AEP), after the centralisation of all poll station reports.In second place is independent candidate Nicusor Dan, with 1,979,767 votes (20.99%), followed by Crin Antonescu ("Romania, Forward!" electoral alliance ) with 1,892,930 votes (20.07%), and independent candidate Victor Ponta with 1,230,164 votes (13.04%).The remaining candidates ranked as follows:Elena Lasconi (Save Romania Union - USR) - 252,721 votes (2.68%)Lavinia Sandru ( Social Liberal Humanist Party) - 60,682 votes (0.64%)Daniel Funeriu (independent candidate) - 49,604 votes (0.53%)Cristian Terhes (Romanian National Conservative Party) - 36,445 votes (0.39%)Sebastian Popescu (New Romania Party) - 25,994 votes (0.28%)John-Ion Banu Muscel (independent candidate) - 22,020 votes (0.23%)Silviu Predoiu (National Action League Party) - 17,186 votes (0.18%).

Ilie Bolojan takes note of Marcel Ciolacu's resignation; interim prime minister - to be appointed on Tuesday

Fri, 16 May 2025 00:00:00 +0300

Interim President Ilie Bolojan has taken note of the resignation of Prime Minister Marcel Ciolacu, the Presidential Administration informed on Monday."The President has taken note of the resignation from the position of Prime Minister of the Government of Romania, submitted this evening by Marcel Ciolacu. An interim prime minister will be appointed in the first part of tomorrow," the Presidential Administration announced, after the meeting between the two.The PSD's National Political Council decided on Monday that the party would leave the governing coalition and that Marcel Ciolacu would resign from the position of Prime Minister."The governing coalition has no legitimacy, at least in this composition. I proposed to my colleagues to leave the coalition, which leads to my resignation from the position of prime minister, which I will do after the meeting with you. I have decided that the PSD ministers remain to discuss with the representatives of the PNL, UDMR and what is decided will be done [regarding the interim ministers]", declared the PSD president, Marcel Ciolacu, at the party's headquarters.

Sustainable tourism development project unfolding at Tara Hategului International Geopark

Fri, 16 May 2025 00:00:00 +0300

The Tara Hategului UNESCO International Geopark administered by the University of Bucharest, is a partner under a new project aimed at capitalising on the natural and cultural heritage of the small town of Bretea Romana by creating an 8 km thematic route, which will connect the village of Bretea to the Gradistea Muncelului-Cioclovina National Park.Called "Experiences in nature and culture in Romanian Bretea," the project is designed to create attractive activities for visitors and residents, thus supporting the development of sustainable tourism and the active involvement of the community."The project aims to offer authentic experiences by discovering and promoting the natural and cultural elements of Bretea Romana, with support from the school, the local community and the volunteers for the Geopark. A thematic route of about 8 kilometres will be created connecting the village of Bretea to the Gradistea Muncelului - Cioclovina Natural Park, and two cultural landmarks will be highlighted through interpretation panels. The activities will also include mounting exhibitions and educational workshops, with all these initiatives to be promoted to the general public during Geopark's events, such as the Day of Volcanoes," according to the geopark.The activities will take place between April and September 2025 designed for a long-term impact by providing sustainable educational and tourism resources aimed at contributing to the development of ecotourism in Tara Hategului."This approach helps the geopark strengthen its mission of protecting and capitalising on the natural and cultural heritage, promoting a model of active collaboration between the local administration, schools, non-profit organisations and the community."The initiative is carried out by the Drag de Hateg Association, under a partnership with the Tara Hategului UNESCO International Geopark - University of Bucharest, Bretea Romana Town Hall, Bretea Romana Secondary School and the National Agency of the Mountain Area - Hateg Regional Centre. (Photo:https://www.hateggeoparc.ro/new/)

Real estate : Investments of 169 million euros in real estate market in Romania in first three months

Fri, 16 May 2025 00:00:00 +0300

Real estate market in Romania showed a positive beginning in 2025, with a total investment volume of 169 million euros in the first three months, more than double compared to the previous quarter and about the same level as the same period of 2024, showing a sustained return of investment interest in local active stock, a specialised analysis released on Thursday shows. At the same time, the office sector in Bucharest continues to yield positive results. Although the total volume of rentals was lower than in 2024, the net take-up grew by 38% compared to quarter 1, 2024, exceeding the average of the last five years, CBRE Romania specialists show. They remarked an intensification of demand for quality stock, when the new offer is limited. Therefore, the non occupancy rate in Bucharest continues to drop, reaching 11.9%. Effects of substantial demand and limited offer are seen in the central area, where the vacancy rate reaches the lowest record of 2.9% in recent years. “The lack of new deliveries in 2025 and the modest pipeline estimated for the coming years set up the premises of pressure over offer, which may continue the rising trend of rents and the growing interest in the well located existing buildings,” said Laura Dumea-Bencze, Head of Research & Director Investment Properties, CBRE Romania. After a period of relative stagnation, the retail segment returned in the investment top, attracting 66% of the total volume in quarter 1, 2025. “This tendency, consolidated in the last two years, shows the increased confidence in domestic cosumption and solid economic foundations. The increase of net average salary by 13% in 2024, next to a stable unemployment rate and a rising purchase power, backed the customers' interest in buying and the tenants' interest in development, which attarcted investors in commercial areas,” the CBRE Romania analysis shows. In the first three months of the year, international investors transacted 90% of the total investment volume, but the Romanian capital continues to be present and active, confirming a gradual maturity of the national market. CBRE estimates that the ttal investment volume could exceed 1 billion euros until the end of the year, on the rise by 35% against 2024. In a broader sense, the drop of the interest reference rate of the Central European Bank, combined with a solid volume of transactions in progress, backs these risign prospects. In this context, CBRE experts consider that a compression of yield for premium stock until the end of the year, especially in office and retail sectors is possible. CBRE Group is the biggest commercial real estate services and investments in the world (according to 2022 incomes). The company has over 115,000 employees serving customers in more than 100 countries. In Romania, CBRE serves a varied range of customers with an integrated service variety, including facilities , transactions and project management; property management, investment management, property estimates and evaluation, real estate leasing, strategic consulting, property sales, mortgage and development services.

TBI Bank to be bought by Advent International

Fri, 16 May 2025 00:00:00 +0300

4finance Holding S.A. has signed a definitive agreement to sell TBI Bank EAD to Advent International, a leading global private equity investor from United States, through its subsidiary TBI Financial Services B.V. The transaction is subject to customary regulatory approvals and is expected to close in Q4 2025. TBI Bank is a rapidly growing and highly profitable South-East European challenger bank that is evolving from an embedded finance model into a broader ecosystem integrator. tbi is already playing a key role in the convergence of merchants and consumers in its markets with its one-stop mobile-led financial and lifestyle proposition. TBI Bank is present in 32,000 merchant partner check-out points in its main markets of operation, Bulgaria, Romania and Greece, helping more than 2.4 million customers with their financial needs, utilizing its award-winning app. In 2024, tbi continued to show strong financial results with a record net profit of EUR 50m, 18% higher year-on-year based on audited consolidated financial results, whilst maintaining strong liquidity and capital positions. As a global financial investor with local experience, Advent is well positioned to partner with TBI Bank’s management team to support its strategic growth plan. Advent’s investment approach is based on in-depth sector knowledge, combined with a strong team of seasoned industry executives and functional advisors. Petr Baron, CEO, TBI Financial Services B.V., commented: “The tbi team and I are very excited to start a new chapter in our journey toward becoming a leading regional challenger bank. The support of Advent will unlock significant opportunities for us to accelerate the execution of our strategy and enhance the way we serve our clients. We are proud of what we have accomplished so far, and we are grateful to Advent for their trust and confidence in us.” Ranjan Sen, Managing Partner, Advent, commented: “4finance developed tbi into a digital-first, agile and customer focused organisation. We have a shared vision for helping to shape the future of banking and are excited to partner with the management team to support them as they continue to scale and provide innovative solutions for customers.”

Schoenherr advises Eurobank on exit from local real estate market via sale to APS Group

Fri, 16 May 2025 00:00:00 +0300

Schoenherr advised Eurobank on the closing of its deal with APS Group for the divestment of 100 % participation in IMO Property Investments Bucharest, a company specialised in managing and selling Eurobank's real estate assets located in Romania, which on the date of the sale owned over 150 assets. Schoenherr provided sell-side legal advice to Eurobank in connection with this transaction up to closing. A multidisciplinary team ensured integrated services to the group, covering all relevant corporate/M&A, real estate and regulatory legal matters. "We have been advising Eurobank on their legal projects in Romania and the wider Central and Eastern European region for almost a decade. This long-term collaboration with the Eurobank team is one of our most valued success stories in providing leading financial institutions with one-stop advice across various legal areas and services in CEE," said Matei Florea, the Schoenherr lead partner in relation to Eurobank. "We congratulate Eurobank and APS Group on the successful closing of this transaction, which ran smoothly due to the parties' and their teams' evident experience in getting deals done," said Schoenherr senior attorney at law Silviu Lazar, who coordinated the team advising Eurobank in connection with this transaction. The Eurobank Group, consisting of Eurobank SA and its subsidiaries, is a financial organisation that develops financial products and services, operating in Greece, Cyprus, Luxembourg, Bulgaria and the UK (London). As of December 2024, Eurobank counted EUR 101.2bln in total assets, operated 568 branches in Greece and abroad and employed 12,406 people. APS Group was established in 2004 and now has a leading position in the markets of Central and South-Eastern Europe. The core of its business consists of three pillars – alternative asset management, real estate investment and debt recovery. The group has been active in Romania since 2007. The Schoenherr team advising Eurobank was led by Matei Florea (partner), as lead partner, and Silviu Lazar (senior attorney at law), as transaction lead, and further included Madalina Neagu (partner), Mihaela Popescu (managing attorney at law), Bogdan Ioni?a (lawyer on demand) and Razvan Dinica (associate). Georgiana Badescu (partner) led the competition, EU and foreign trade team that advised on FDI matters and was further supported by Teodora Burduja (associate). Schoenherr is a leading regional law firm, with 15 offices and four country desks in Central and Eastern Europe and South-Eastern Europe. The firm has been active in Romania since 1996, providing full-service legal advice to local and multinational companies. Schoenherr Romania is ranked by all major legal directories that survey the legal market (Chambers and Partners, Legal500, IFLR1000) for its activity.

Study: Mortgage rates down as share of long-term borrowers' incomes despite interest variation

Fri, 16 May 2025 00:00:00 +0300

Mortgage rates are decreasing in time as a share of long-term borrowers' income, despite the variation in interest rates, which can reach several percentage points, according to an analysis carried out by the online broker Ipotecare.ro.The company's data shows that the average repayment period of a mortgage loan is approximately 15 years in Romania. The average interest rate on a mortgage loan in lei, equivalent to 65,000 euros, contracted in 2011, was 8.88% per year (ROBOR 3M + fixed margin of 3%). Its average rate was 2,381 lei, representing 160% of the average national salary (1,417 lei) recorded in the middle of the aforementioned year.Currently, the average fixed interest rate for mortgages is approximately 5.60% according to Ipotecare.ro calculations, the mortgage rate contracted in 2011 reaching 1,810 lei, i.e. approximately 33% of the average net salary of 5,351 lei recorded at the national level in February of this year.According to the same source, the mortgage interest rate varied several times during the 15 years analyzed: first, there was a gradual decrease, up to a level of 3.78% per year in 2016, when the rate reached 1,506 lei, representing 72% of the average net salary at national level. Subsequently, the interest rate increased to 5.93%/year, a level recorded in 2019, when the rate reached a value of 1,868 lei, representing 59% of the average net salary at national level.A new period of interest rate cuts followed, driven by fiscal measures aimed at mitigating the effects of the Covid-19 pandemic, with the average interest rate thus falling to 4.47% in 2021, when the rate of the same loan reached 1,618 lei or 45% of the average net salary at the national level.The year 2023 brought a new peak in interest rates, when refinancing the aforementioned loan could have brought a fixed interest rate of 7.32%, with the rate reaching 2,123 lei or 46% of the average net salary at the national level - the share of the rate would thus have increased by only one percent in the average salary, although the interest rate increased by almost two-thirds."A mortgage loan should be analyzed over a period of 10-15 years, during which we have periods with very low interest rates, but also periods with very high interest rates. Overall, however, the rates end up having an increasingly smaller share in a borrower's income, despite certain periods of interest rate increases. In addition, borrowers should consider a refinancing method, at least once during the repayment period of a loan, as the interest rate and, implicitly, rate reductions can be substantial," explained Alexandru Radulescu, managing partner of SVN Romania | Credit & Financial Solutions, the exclusive partner of Ipotecare.ro, quoted in the analysis.The average interest rate on the loan analyzed was about 5.88% during the period 2011 - 2025, while the average rate paid was approximately 1,863 lei, 357 lei higher than the lowest recorded level but also 518 lei lower than the highest recorded level.In 2024, a total of 9.2 billion euros worth of mortgage loans were granted at the national level, according to data from the National Bank of Romania, up 42% compared to 2023, but this also includes refinancings, conversions, transfers and restructurings.

Ilie Bolojan discusses with representatives of Romanian-German Chamber of Commerce about supporting German investments in Romania

Fri, 16 May 2025 00:00:00 +0300

Acting president Ilie Bolojan received on Wednesday, at the Cotroceni Palace, the delegation of the Romanian-German Chamber of Commerce and Industry (AHK Romania), in a meeting dedicated to consolidating bilateral economic relations and supporting German investments in our country, the Presidential Administration informed."The discussions focused on the potential of German investments in our country, on how they can be expanded, but also on broader economic issues. Both sides emphasized the need for a predictable economic climate and policies that encourage long-term investments," the cited source said.On the occasion of the meeting, the interim president Ilie Bolojan presented the general director and member of the Board of Directors of AHK Romania, Sebastian Metz, with the Order of "Industrial and Commercial Merit" in the rank of Officer conferred by the Romanian-German Chamber of Commerce and Industry as a sign of "appreciation for the special merits in the over 20 years in which it played a decisive role in consolidating strategic Romanian-German trade and investment relations, actively involved in supporting companies, in improving business conditions in Romania and in affirming the Federal Republic of Germany as the main foreign investor in the economy of our country".The head of state signed the decree on Monday to decorate the Romanian-German Chamber of Commerce and Industry. (Photo:https://www.presidency.ro/)

CSAT approves updated military mobility plan

Fri, 16 May 2025 00:00:00 +0300

Romania's Supreme Council for National Defence (CSAT) on Wednesday approved the country's military mobility national plan, announced acting President Ilie Bolojan reported, saying that a new bridge over the Danube is included as an important project in the plan."A third important item [on the CSAT agenda] was to update the National Plan on Military Mobility. That is a plan that includes the main projects that secure both civil mobility on important infrastructure works, and also military mobility and was brought up to date with the projects prepared in recent years and projects that are to be developed in the coming years so that military mobility in this South-Eastern European region is secured in the coming years," said Bolojan at the Cotroceni Presidential Palace after a CSAT meeting.He added that a new mobility corridor Romania has joined on the north-south direction, on the Romania-Balkans direction."The project for the new bridge over the Danube, which is currently being designed, is included as an important project in this military mobility plan," said Bolojan. Romania to increase its defence spending in stages Romania's acting President Ilie Bolojan announced on Wednesday that Defence Minister Angel Tilvar has been mandated to pledge on behalf of the country increasing Romania's defence spending in stages by 2030."An important project regards increasing Romania's defence capacity by 2030, a project that aims, on the one hand, to increase defence spending in stages in the coming years so that Romania is close to the European partners, a contributor to the defence of Europe and to the increase of our country's security. In this regard, the defence minister was mandated that in negotiations and technical discussions that will prepare the NATO summit in the second half of June in The Hague, he will pledge on behalf of our country a phased increase in defence spending, so that, as I have said, our spending will secure a consolidated defence of Romania and NATO's eastern flank," Bolojan told a news briefing at the the Cotroceni Presidential Palace after a meeting of the Supreme Council for National Defence (CSAT).He added that a working group has been set up that will be led by the Prime Minister's Chancellery and supported by the ministries of defence and economy, to prepare Romania's application for accessing the loans extended by the European Commission for the countries of the European Union to provide additional defence equipment."It is an advantageous loan, to be repaid in over 40 years and a grace period of 10 years, and this way Romania can improve its military capabilities in the coming years without being in a situation where we put a lot of pressure on the national budget," Bolojan said.He added that as far as the increase in the defence capacity is concerned, making such investments in large part through orders to the defence industry in Romania, both public and private, was discussed."That was an important subject and, this May the first half of June at the latest - before the NATO Summit in The Hague - these aspects will have to be clarified and Romania will come up with a list of projects for which it will request funds under this safe credit programme provided by the European Union," said Bolojan. (Photo:https://www.presidency.ro/)

DHS Announces the Rescission of Romania’s Designation into the Visa Waiver Program

Fri, 16 May 2025 00:00:00 +0300

Release Date: May 2, 2025 WASHINGTON —Today, the Department of Homeland Security, in consultation with the Department of State, rescinded Romania’s Visa Waiver Program (VWP) designation. Despite security concerns, the Biden Administration designated Romania as a VWP country on January 9, 2025. On March 25, 2025, DHS paused implementation of the VWP in order to conduct a review of Romania’s designation. That review has concluded and, given this Administration’s focus on border and immigration security, DHS decided that Romania’s designation should be rescinded in order to protect the integrity of the VWP and to ensure border and immigration security. Romania may be reconsidered for VWP designation in the future should they meet the statutory eligibility criteria. “Maintaining the Visa Waiver Program’s high standards is essential to our national security. In light of this Administration’s focus on border and immigration security, the Secretary of Homeland Security has decided, in consultation with the Secretary of State, to rescind Romania’s VWP designation effective immediately,” said Assistant Secretary Tricia McLaughlin. “We are grateful for Romania’s close partnership over the years to enhance security cooperation. Romania may be reconsidered for VWP admission in the future.” (Source:https://www.dhs.gov/news)

Far-right Trump ally wins first round of Romania’s presidential election

Fri, 16 May 2025 00:00:00 +0300

* George Simion has comfortably won the first round of Romania’s presidential election, setting up the 18 May run-off as a referendum on the country’s future: one aligned with Europe, or one leaning towards isolationism, www.euractiv.com reads. Far-right politician George Simion has come out on top in the first round of Romania’s rerun presidential election, following the annulment of the November vote over allegations of Russian interference. Simion, leader of the Alliance for the Union of Romanians, will face Bucharest’s centrist mayor, Nicu?or Dan, in a run-off scheduled for 18 May, after Sunday’s vote. George Simion, leader of the far-right AUR party, secured around 40% of the vote in the first round of Romania's presidential election – well ahead of Bucharest Mayor Nicu?or Dan, an independent candidate with about 20%, according to partial results with over 99% of votes counted. The upcoming 18 May vote is shaping up to be a referendum on Romania’s future: one aligned with Europe, or one leaning toward isolationism. Simion, a nationalist and sovereigntist, capitalised on a wave of anti-establishment sentiment. For the second consecutive time, Romania’s main parties — the Social Democrats (PSD) and the Liberals (PNL) — failed to send their candidate, Crin Antonescu, to the runoff, despite heavy financial backing and support from a large network of mayors who traditionally influence voter turnout. But now this strategy fell flat. Simion won in 36 of Romania’s 41 counties, including that of current Social Democratic Prime Minister Marcel Ciolacu. Perhaps most surprising was the overwhelming support Simion received from Romanians living in Europe, while Romanians in Moldova and the United States favored Nicu?or Dan. The runoff promises to be unpredictable. With 40% of the vote, Simion, an open supporter of Donald Trump and the MAGA movement who opposes aid to Ukraine, enters as the frontrunner. He is also expected to attract voters from former PSD leader Victor Ponta, who ran a sovereigntist campaign that brought him around 14% support. Simion is likely to also draw additional backing from segments of the Social Democratic base, especially among those who share his views on Orthodox values, the traditional family, and resistance to expanding minority rights, particularly for the LGBTQ+ community. In the lead-up to the May 18 runoff, “this won’t be a debate between individuals,” warned Nicu?or Dan on Sunday night. “It will be a debate between two visions for Romania: one pro-Western, the other anti-Western.” Dan has received official support from the USR/Renew alliance, but he will also need endorsements from both PSD and PNL to stand a real chance. In his concession speech, Crin Antonescu urged his supporters to vote for the candidate who best represents their values, leaving it to PSD and PNL leadership to make formal endorsements. Whether the two finalists will face off in a debate remains uncertain. Simion has so far avoided televised debates and media appearances, except those with foreign press. On election night, he skipped a live appearance at his campaign headquarters and instead released a pre-recorded video message in which he reaffirmed his loyalty to former pro-Russian candidate Calin Georgescu. “I will remain unshakably loyal to the man who should rightfully hold the presidency - the man in whom millions of you placed your hopes… Romania needs his wisdom,” Simion said. He added that he does not seek power for himself but aims to “restore constitutional order.” “I have only one goal: to return to the Romanian people what was taken from them” – a reference to the annulled first round of last year’s presidential election. Romania has been in political disarray since the Supreme Court annulled the first attempt at holding the election late last year. Then, Putinist far-right firebrand Calin Georgescu defied opinion polling to win the first round, but was later found to have benefitted from a Russian interference campaign. Simion cast his vote on Sunday morning alongside Georgescu. "The time has come to reclaim our country from the scoundrels," declared Georgescu, whom Simion has said he would appoint prime minister if victorious. The result would set up a high-stakes second round that will determine Romania's future direction on foreign policy, judicial reform and relations with the European Union, as well as the country's support for Ukraine. Vocally anti-EU, Simion opposes continued Western military aid to Ukraine and has called for negotiated settlement, echoing Donald Trump's stance, though he has described Vladimir Putin as a war criminal. He was banned from Ukraine in 2024 for 'anti-Ukrainian activities', but maintains an ostensibly pro-NATO position, framing Romania's role as defensive rather than interventionist.

PresidentialElection2025/Partial count: George Simion - 40.56%; Nicusor Dan – 20.99%

Fri, 16 May 2025 00:00:00 +0300

George Simion, the Alliance for the Union of Romanians (AUR) candidate, garnered 3,862,404 votes (40.96%) in the first round of the presidential election rerun, according to data published on Monday morning in real time on the website of the Standing Electoral Authority (AEP) after totalling 20,084 minutes out of 20,085 in all.In second place is independent candidate Nicusor Dan, with 1,979,711 votes (20.99%), followed by Crin Antonescu ("Romania, Forward!"Electoral Alliance), with 1,892,925 votes (20.07%), and independent candidate Victor Ponta with 1,230,143 votes (13.05%).Next are:* Elena Lasconi (Save Romania Union) - 252,708 votes (2.68%)* Lavinia Sandru (Social Liberal Humanist Party) - 60,679 votes (0.64%)* Daniel Funeriu (independent candidate) - 49,602 votes (0.53%)* Cristian Terhes (Romanian National Conservative Party) - 36,442 votes (0.39%)* Sebastian Popescu (New Romania Party) - 25,993 votes (0.28%)* John-Ion Banu Muscel (independent candidate) - 22,020 votes (0.23%)* Silviu Predoiu (National Action League Party) - 17,185 votes (0.18%).

The European Film Festival starts on 8 May in Bucharest and nine other cities across the country

Fri, 16 May 2025 00:00:00 +0300

The 29th edition of the European Film Festival will start on 8th May in Bucharest and will be followed by special local editions in nine cities of Romania, becoming a record as regards the number of cities where the festival will be present, informs a press release.In Bucharest, the Festival will take place from 8 to 18 May, at the Luceafarul Hall, where the Opening Gala will take place on 8 May, the Elvire Popesco Cinema from 9 to 15 May, and the Eforie Cinematheque from 9 to 11 and 16 to 18 May. In Bucharest, the Festival will take place from 8 to 18 May, at the Luceaf?rul Hall, where the Opening Gala will take place on 8 May, the Elvire Popesco Cinema from 9 to 15 May, and the Eforie Cinematheque from 9 to 11 and 16 to 18 May. The local editions will take place according to the programme:Brasov – 9-11 May, Centrul Cultural Reduta; Timisoara – 15-18 May, Cinema Studio; Sfantu Gheorghe; 17-18 May, Cinema Arta by Cityplex; Botosani: 22 - 25 May, Cinema Unirea; Deva: 23 - 25 May, Centrul Cultural Dragan Muntean; Iasi: 23 - 25 May, Muzeul Vasile Pogor - Casa Junimii; Targu Mures: 23 - 25 May, Muzeul Judetean Mures - Sec?ta de Istorie (Cetate), Sala Multimedia; Chitila: 30 May - 1 June, Amfiteatrul din Parcul Valea Mangului; Targu Jiu: 30 May - 1 June, Cinema Sergiu Nicolaescu. The 2025 edition of the European Film Festival, curated by film critic Catalin Olaru, brings together more than 40 feature-length films, 28 of which are national premieres, and 2 selections of short films, also screened in national premieres. These include 11 documentaries, 13 films directed by women and 2 films - co-directed by women. In the ten cities, the FFE selection will feature films that have won awards at the world's most important festivals, including 'A Sudden Glimpse to Deeper Things' (directed by Mark Cousins), 'Toxic' (directed by Saulë Bliuvaitë) or '1489' (directed by Shoghakat Vardanyan), 'Des Teufels Bad / Devil's Bath' (directed by Veronika Franz and Severin Fiala), 'El llanto / The Wailing' (directed by Pedro Martín Calero) or 'Mond / Moon' (directed by Kurdwin Ayub).

Survey: A quarter of Romanians associate May 1st with barbecues, socialising

Fri, 16 May 2025 00:00:00 +0300

A quarter of Romanians consider May 1 primarily a day dedicated to barbecues and socialising (24%), especially young people aged 25-34 (29%), according to the findings of a survey released on Tuesday.According to Reveal Search Marketing, in the top of the meanings of the International Labour Day for Romanians there is both the day off for relaxation (35%) and the authentic Romanian tradition (26%).As for the meanings of barbecue for Romanians, it is mainly seen as an outdoor relaxation activity (34%), an opportunity to socialise with loved ones (26%) and a pleasant way to spend time on weekends or holidays (26%). Thus, a successful barbecue should include mici sausages (71%), beer (62%), relaxation in the open air (50%), laughter and jokes (48%) and music (43%).Also, barbecue music is much more important to Generation Z, aged between 18 and 24 years (51% as against 43% of the total sample). At the same time, Romanians prefer to heat the barbecue in their own backyard (50%) or in nature, on green grass, in the forest or in the mountains (37%), and most of them organise it with family (69%) or friends (37%).The survey also shows that the main foods consumed at barbecue are mici sausages (81%), pork neck (64%), chicken breast or thighs (55%), sausages (54%), skewers (42%) and vegetables (peppers, zucchini, mushrooms, etc.) - 39%.By gender, men prefer the mici sausages (86% versus 76% of women) and other sausages (58% versus 50% of women) to a significantly greater extent, while women opt more often for chicken breast or thighs (58% versus 50% of men) and grilled vegetables (43% versus 36% of men).At the same time, the main drinks to have at the barbecue are: beer (74%), flavoured beer or cider (24%), red wine (19%) and white wine (18%). By age and gender, beer is preferred to a significantly greater extent by men (82% versus 62% women) and by people over 55 years of age (89%).On the other hand, flavoured beer and cider are more appreciated by women (31% versus 16% of men) and by young people aged between 18 and 34 (37%).The Reveal Marketing Research survey was conducted online between April 16 and 23, 2025 on a sample of 1,015 respondents. It carries a maximum sampling error of +/-3.1%, and a 95% confidence level.

Unemployment rate in Bucharest, 0.63 pct in March 2025

Fri, 16 May 2025 00:00:00 +0300

A total of 7,924 unemployed people, including 4,531 women, were in the records of the Municipal Agency for Employment Bucharest (AMOFM) at the end of March, with an unemployment rate of 0.63%, informs a press release sent on Tuesday.Compared to the previous month, when the unemployment rate was 0.64%, the indicator decreased by 1.56% this March.Out of a total of 7,924 people registered in the records of AMOFM Bucharest, 1,531 were recipients of unemployment benefits and 6,393 were unemployed without benefits.Most unemployed were in the age groups 30-39 (2,063 persons) and 40-49 (1,865 persons).The unemployed with high school education had the highest share in the total number of unemployed registered in the AMOFM Bucharest (37.23%), followed by those with higher education (26.86%) and 17.88% who graduated from vocational school/arts and crafts. Workers with secondary education accounted for 15.31% of all registered unemployed, those with post-secondary education 2.13%, and those with primary education and no education 0.59%.The structure of registered unemployed persons by level of employability, established by profiling, is as follows: 1,271 persons very hard to employ, 2,452 hard to employ, 2,388 moderately difficult to employ, and 1,813 were easily employable.

Romanian Army to acquire new Patriot system from the US using non-reimbursable funds

Fri, 16 May 2025 00:00:00 +0300

The leadership of the Ministry of National Defence welcomes the decision of the US State Department to approve the sale to Romania of a long-range surface-to-air missile system (HSAM) - Patriot, through the Foreign Military Sales (FMS) security assistance programme, and the notification, in this regard, of the US Congress, according to standard American procedures.This system will replace the one donated to Ukraine by our country in September 2024.The estimated cost for this system, composed of an AN/MPQ-65 radar set, in the modernised version compared to the donated one, two M903 launch stations and a launch control station, is 262 million US dollars. According to American legislation, the US Congress was notified with a higher initial value, of approximately 280 million US dollars, the MApN stated in a press release sent on Tuesday.The system will be acquired through non-reimbursable external funds, provided by a group of allied countries, as well as through the Immediate Action on Air Defence Initiative, in order to fill the capability gap generated by the donation.The Patriot system can detect and shoot down a wide range of air platforms and ballistic missiles, and this acquisition will strengthen Romania's capacity to deter aggression in the Black Sea region.Surface-to-air missile systems are essential for national and regional security. In the current political-military context, Romania continues its efforts on the defence and security dimensions, by ensuring robust and credible military capabilities, the MApN press release states.

DefMin Tilvar meets EP president Roberta Metsola on the sidelines of his official visit to Brussels

Fri, 16 May 2025 00:00:00 +0300

The minister of national defence, Angel Tilvar, had a bilateral meeting with the president of the European Parliament, Roberta Metsola, on the sidelines of his official visit to Brussels on Monday.According to a press release of the Ministry of Defence sent on Tuesday, during the discussions, the Romanian official highlighted the essential role of the European Parliament in supporting a common strategic vision in the field of defence and security of the European Union, underscoring the importance of the coordinated action of the Committee on Foreign Affairs.He also appreciated the solid commitment of the Parliament to strengthening the common foreign and security policy, as well as the constant support given to Ukraine, the Republic of Moldova and the states in the Western Balkans.The minister of national defence also emphasised the essential contribution of the European Parliament in ensuring the legislative and budgetary framework necessary for financing the European defence industry, through mechanisms such as the European Defence Industry Programme (EDIP) and the SAFE (Security Action for Europe) initiative.In this context, Minister Tilvar presented Romania's efforts within the Common Security and Defence Policy, through active participation in all EU missions and operations, highlighting its command within the EUFOR Althea mission, in Bosnia and Herzegovina, and the EUTM RCA mission, in the Central African Republic."A major topic addressed was the strategic importance of the Black Sea region for Euro-Atlantic security and the European Union, in the context of multiple threats, including hybrid threats, propaganda and disinformation," the same source shows. (Photo:https://armed.mapn.ro/)

Works on Via Carpathia's expressway portions in Romania could start this autumn

Fri, 16 May 2025 00:00:00 +0300

Works on Via Carpathia's expressway sections in Romania could start this autumn, interim President Ilie Bolojan said on Tuesday. Bolojan held a news briefing at the end of a Three Seas Initiative Summit in Warsaw.He said that Via Carpathia is a network of highways and expressways connecting northern Europe from the Baltic Sea to the Black Sea via Romania and to the Adriatic Sea via the Balkans."On the territory of our country the road is an expressway entering on the Debretin-Oradea route, descending to the south via Arad, Timisoara and then towards the Constanta area, towards Bulgaria - Calafat and towards Serbia, towards Belgrade and then towards the Balkan Peninsula. From my conversations yesterday with the National Corporation of Roads and Highways, by the end of this month, they will finalise part of the tenders that are currently under way on the three sections of the Arad - Oradea expressway, so that in May, at least the first section from Oradea to Salonta can be signed," said Bolojan.He added that two sections are at various stages of acquisition - one is under appeal, the one from Arad, and another is currently being analysed. Also at a tender stage is the section from Timisoara to Stamora Moravita of the expressway so that the connection to the Balkans may also be achieved, Bolojan added."If all goes well, in the summer of this year, towards autumn, these expressway sections of Via Carpathia in Romania could reach the execution phase. The Arad - Oradea expressway section is already being designed and carried out as the contract is to be signed, so the works could begin, and on the other section from Timisoara to Stamora Moravita the design period would follow and then, after a few months, very likely next year the execution could begin."Bolojan added that "an important connection that is overdue is the connection of the Port of Constanta both by road and rail in the North-West direction, for the connection in the direction of Central Europe, but also in the Northern direction, so that the great potential of this port to become a European hub in the Transcaucasian transport direction will be consolidated in the coming years".He also said that Romania's having joined the Schengen area and the war in Ukraine led to an increase in traffic through the Port of Constanta, which meant a strong boost for logistics and development in the south-eastern area of Romania. (Photo:https://eurobuildcee.com/)

Ilie Bolojan, in Warsaw: Romania has managed to develop important energy projects

Fri, 16 May 2025 00:00:00 +0300

Romania has succeeded, in collaboration with private companies, in developing important energy projects, interim president Ilie Bolojan said on Tuesday, during the segment dedicated to heads of state and government at the Three Seas Initiative Business Forum, organized at the Royal Castle in Warsaw.In this regard, he recalled that the plan to build Cernavoda NPP (Nuclear Power Plant) Units 3 and 4 is making important steps forward, while in the field of natural gas exploitation in the Black Sea, the strategic project 'Neptun Deep' is continuing, being essential for regional energy security, with an estimated start of production in 2027."It is essential to develop energy corridors on as many coordinates as possible and to increase our energy security, and in terms of the gas transportation corridors at regional level, for Romania to capitalize on its strategic position," Bolojan said.The interim president emphasized that the Iasi-Chisinau gas pipeline and the other projects under development to ensure the energy security of the Republic of Moldova allow its supply with electricity and natural gas largely from Romania.The north-south transportation corridors remain "insufficiently developed", Bolojan noted, highlighting that the road and rail infrastructure projects Via Carpathia and Rail-2-Sea remain a priority for Romania.The president said that, apart from the motorway sections already completed, "the entire Via Carpathia project on Romanian territory is in the contracting phase of works, on a length of almost 200 kilometers".Ilie Bolojan also stated that "Constanta, the largest port on the Black Sea, confirms its strategic position as an important node of the International Transport Corridor Europe-Caucasus-Asia". Thus, he said, in the context of the war in Ukraine and Romania's accession to the Schengen area, the importance of the Romanian port continues to grow.At the same time, he recalled that Romania and the Republic of Moldova have projects for new road bridges across the Prut, and construction of a new bridge in Ungheni is starting these days."As far as Ukraine is concerned, we are considering opening new border crossing points and increasing the transit capacity of the existing ones," he added.The interim President also referred to the current security challenges."We are going through a complicated period in which new realities are affecting our countries and the economic landscape is constantly reshaping, something that forces us to adapt continuously. The decisions and measures we take at this stage will determine not only the future of the Three Seas Initiative, but also the future of Europe. The reconfiguration of political and economic forces at global level requires the strengthening of partnerships with all countries interested in the stability and prosperity of our region," Bolojan added.In these circumstances, he showed, the Three Seas Initiative "acquires a greater relevance"."Connectivity is its essence and the potential of our region is immense. Romania, with its geographical position and economic capacity, plays an important role in this equation," the interim president added.In this regard, he said Romania can make a "significant contribution" in the IT sector."It is vital to understand that the success of this initiative depends on our ability to capitalize on the capital of private companies. The state cannot and should not be the only development engine. Private companies bring not only financial resources, but also innovation and efficiency," concluded the interim president. (Photo:https://www.presidency.ro/)

MKOR Survey: Tense ending before elections: 1 out of 5 Romanians undecided, close scores among main candidates

Fri, 16 May 2025 00:00:00 +0300

33.1% of electors would choose George Simion in first round, on the rise by 1.9% against March. Nicusor Dan and Crin Antonescu, main countercandidates in round 1: 19.4% and 21% In round 2, very close scores and number of undecided electors grows: 41-55% of people in simulated scenarios do not know whom to vote Dropping participation against March: only 76% of Simion's supporters say they would go to a single voting (against 87% previously) Absenteeism risk and nul votes are higher than at the end of March, which makes election result very uncertain MKOR independent agency launched results of study “Consumer Sentiment 2025”, madeover April 24-27, 2025, on a representative sample of 1750 respondents aged between 18 and 65, with a margin of error of +/- 2.5% and a confidence level of 95%. The study offers a clear image of a very tense election final: close scores between main candidates, an important increase of undecided electors and a dropping participation in voting, just a few days before the first round of elections. George Simion remains the leader of the first round, but indecision reaches alarming levels. In the voting intention for the first round,George Simion (AUR) remains the favorite, being elected by 21.5% of respondents. After the redistribution of valid votes, his scores goes up to 33.1%, a slight increase compared to the MKOR survey made at the end of March, when the candidated recorded 31.2%. However, this growth takes place in a more volatile election context. The percentage of undecided electors or those who say they would not vote has grown by 5%: frpm 27.4% in March to 33.1% in April. The share of those who do not know whom they would vote went up from 16.2% to 21.9%, which shows a higher uncertainty, even prior to elections. Simion is followed now by Crin Antonescu (13.7% gross, 21% redistributed) and by Nicusor Dan (12.6% gross, 19.4% redistributed). In March Nicusor Dan was second. Victor Ponta loses ground, going down to 9.6% gross (14.8% redistributed), on the drop from 17.1% previously. Elena Lasconi goes up from 3.9% to 4.7% gross (5.3%-7.3% redistributed). This dynamic confirms the fact that although George Simion remains the leader in preferences of active electos, the rising volatility of vote and fragmentation of options make the result of the first round more open than a month ago. The context is amplified by the downfall of firm votes: absenteeism and nul votes are rising, while the electors' indecision can change the final results. Round 2: Battles to the limit and more confused electors While in March second round duels showed polarised electors with relatively clear elections, in April the landscape becomes uncertain. When adding the option I dont know/undecided in possible answers, fragmentation and the hesitating attitude of electors come to the fore. In March, between 35% and 45% of respondents declared they would give a nulvote, would not vote or were undecided. In April, this ratio grows to 41%-55%, according to the tested scenario, a sign of a deep election confusion. The most important duels: In March, Nicusor Dan defeated George Simion with 35% to 31% (34% undecided). In April, the score tightens: 29% for Nicusor Dan, 28% for George Simion, while 43% of electors are undecided, would cast a nul vote or would not vote. In the duel between Simion and Antonescu, the latter keeps his advance (31% vs.28%), but the share of people who do not clearly state their option grows (41% vs. 36% in March). In the scenario Simion vs Victor Ponta, in March we had an equal score (30% vs 30%). In April, Simion leads slightly (28% vs 25%), but 47% of respondents are either undecided or would not vote (compared to 40% in March). Duels without Simion (Nicusor Dan vs Crin Antonescu or Nicusor Dan vs Victor Ponta) confirm the same trend : very tight scores and a massive indecision increase. An essential element even in the most balanced confrontations is that no candidate exceeds the level of 35% of votes expressed. Practically, in the scond round, the winner will be decided by the capacity to mobilize the undecided electors and to turn the polling intention into an effective presence to the polling station. Compared to March, April data show a more voltile election climate, more tense and less predictible. A few days before the elections, mobilization becomes more important than ever. Dropping participation: absenteeism and nul votes become decisive actors One of the most worrying signs given by the April survey is the drop of the declared participation in voting compared to March data. In March, 87% of Simion's supporters and 94% of Nicusor Dan's said they would certainly vote (scores of 8-10 on a scale from 0 to 10). In April these figures were dropping: Only 76% of Simion's electors say they would certainly vote ( 11% drop). In Nicusor Dan's case, participation is still high (92%) but also records a slight drop, Crin Antonescu also loses ground with mobilization: 82% of his supporters say they would surely vote, against 86% in March. This enthusiasm drop is accompanies by a rise of he number of people who say they would possibly vote or those who are undecided. At the same time, in second round scenarios, the number of people who choose nul/white vote , would not vote or are undecided grows from 35%-45% in March to 41%-55% in April. These data show a major risk for absenteeism and nul votes to decisively influence election results. In such a close competition, the mobilization of electors and the capacity to convince the undecided to vote could make a difference between victory and defeat. About survey “MKOR consumer Sentiment 2025” was made online, over April 24-27, 2025, on a sample of 1750 respndents, representative at national level, according to the residence, gender, age, educationlevel and election behavior structure of the fist round of presidential elections 2024. The presented model validates the socio-demographic distribution of electors and faithfully reflects tendencies and the present dynamics of polling intentions. The study has a margin of error of +/- 2.5% and a confidence level of 95%. MKOR is an innovative market research agency that combines practical business experience , MBA level know-how and top experience in offering a deep understanding of business. In its activity, MKOR covers all types of studies and offers its clients increased flexibility to understand and delver the most detailed market prospects. MKOR develops a series of research projects which you can study for free on the agency website: https://mkor.ro/studii-piata.

Tourism : TUI, the biggest tourism group in the world, comes to Romania

Fri, 16 May 2025 00:00:00 +0300

TUI Poland travel agency, part of the German group bearing the same name, the biggest travel group in the world, will come to Romania, either by opening a branch or by purchasing a player in the local market, sources informed Profit.ro. TUI Poland has been testing the local market for some time, according to Profit.ro, and was interested in taking over the agency network TUI Travel Center Romania, which was sold to Christian Tour last year. Industry sources show that TUI Poland is in due dillingence with Paralela 45 agency. Contacted by Profit.ro, Alin Burcea, the owner of Paralela 45 says that “at present there is no serious sales negotiation for Paralela 45.” “There have been talks for several years, but there was nothing serious,” Burcea added. Contacted by Profit.ro, TUI representatives have not made any statements. In December, Profit.ro announced that market players said that Alin Burcea, the founder of Paralela 45 travel agency , among the biggest according to the business figure, had concluded financial negotiations for selling the company for 16 million euros. Burces denied then, when contacted by Profit.ro, that such a deal had been reached. TUI Group is a world leader in the travel industry. It now has 1,200 international agencies, a fleet of 130 airplanes, over 400 hotels and 18 cruise lines. The group includes 5 air companies – TUI Airways, TUI Fly, TUI Fly Belgium, TUI Fly Netherlands and TUI Fly Nordic. TUI is listed at Frankfurt and Hanover stock exchange, included in FTSE 250 index. Set up three decades ago, Paralela 45 is one of the most longlasting travel agencies in the local market, one of the biggest according to the business figure, of 50.6 million lei in 2023, on the rise by 15% against the previous year. The net profit of the company was 6.3 million lei in 2023, 66% more than in 2022.

Real Estate: Romania offers some of the highest investment incentives in the EU for industrial and office projects

Fri, 16 May 2025 00:00:00 +0300

Romania is attracting increasing attention from investors considering Central and Eastern Europe for industrial or office developments, thanks in part to generous government incentives that can cover up to 70% of eligible project costs, https://www.colliers.com/ reads. Romania is attracting increasing attention from investors considering Central and Eastern Europe for industrial or office developments, thanks in part to generous government incentives that can cover up to 70% of eligible project costs, according to Colliers' latest report, "How Government Incentives Shape Industrial & Office Real Estate in CEE". This high level of support provides a significant competitive advantage for developers and investors, especially as strategic location, cost efficiency and sustainability become key decision-making factors. However, Colliers experts warn that government support alone is not enough. Companies weigh many other factors when making strategic investment decisions, and Romania's internal imbalances and political uncertainty remain a challenge. In 2024, Romania lags behind other major CEE economies in terms of announced manufacturing investment. “Romania stands out in the region for the strength of its government support, particularly for manufacturing. Government support can be the deciding factor for companies looking to expand or relocate, especially in today's changing geopolitical landscape. The country is also becoming increasingly attractive for business services, offering well-located, modern premises backed by favourable public policies”, said Victor Cosconel, Partner | Head of Leasing | Office & Industrial Agencies at Colliers. However, even incentives covering up to 70% of eligible costs - compared to 50-60% in countries such as Poland or Hungary - are not enough. According to fDi Markets, Romania recorded 1.7 billion euro in announced manufacturing investments in 2024, with the potential to create more than 8,900 new jobs. By comparison, the Czech Republic, Hungary and Poland will each attract between 2.5 billion euro and 2.9 billion euro. “State aid is only one piece of the puzzle when it comes to investment decisions. While Romania is generous in this respect, it cannot fully offset other concerns. Global and domestic uncertainties - together with the potential for significant fiscal changes in the medium term - outweigh the additional support Romania offers compared to other CEE countries. Transparency and resolution in these areas are essential. Fundamentally, Romania remains highly attractive, with the best labour productivity-wage ratio in the European Union”, added the Colliers director. In the services sector, the dynamics are somewhat different. While many office projects are not directly eligible for financial support, cities such as Cluj-Napoca, Iasi and Timisoara offer valuable indirect benefits, ranging from tax incentives to access to strategic tenants that favour locations supported by public policies. Owners who know how to take advantage of these mechanisms can gain a real competitive edge in the leasing market. Romania also benefits from a well-educated workforce and competitive operating costs, although its stock of modern logistics and office space per capita remains low, indicating strong growth potential. “Government support can be a decisive factor in attracting key tenants, especially in the face of increasing regional competition. Property owners who effectively communicate these benefits can improve occupancy and increase returns. Even in the face of new regulations such as the global minimum tax, the CEE remains a top investment destination. In fact, 2024 data confirm a market recovery, with Poland seeing a 138% increase in investment volume. After a stagnant 2023, average regional economic growth is forecast at 1.9% in 2024, with a stronger acceleration expected in 2025”, said Victor Cosconel. According to the Colliers report, Romania, Poland, Hungary, the Czech Republic, Slovakia and Bulgaria account for almost 90% of all modern industrial stock in the CEE-13. With just 0.7 square metres of logistics space per capita - compared to up to 3 square metres in Western Europe - the region shows strong long-term development potential. Meanwhile, the European Green Deal and ESG compliance pressures are accelerating investment in sustainable buildings and smart technologies - creating new opportunities for visionary investors and proactive developers.

Agriculture: Romania's wine production decreased by about 19.8pct in 2024 to 3.7 mhl

Fri, 16 May 2025 00:00:00 +0300

Due to adverse climatic conditions, hail and drought in critical periods, Romania's wine production decreased by approximately 19.8% in 2024 from 2023 to 3.7 million hectolitres (mhl), one of the most significant percentage decreases in the European Union, according to the latest report published by the International Organisation of Vine and Wine (OIV).However, Romania manages to maintain its position on the world wine map, both through the cultivated area and through its role in domestic consumption. According OIV, Romania is among the top ten countries with the largest vineyard areas. At this indicator, Romania continues to occupy an important place in the global ranking, with a total area cultivated with vines of 187,000 hectares (of which 8,179 hectares are table grapes), a slight increase in the area from 2023 (+0.1%). "This places it on the 8th place worldwide, surpassing countries such as Portugal, Chile and Australia. Romania is among the few member states of the European Union to witness growth in 2024, along with Italy and Greece, amid a generalised decline elsewhere in Europe," according to the National Office of Wine and Vine Products (ONVPV).In terms of domestic consumption, Romania recorded a decrease of 11.4%, with an estimated total of 3 mhl consumed in 2024. Despite the decline, consumption remains 4% above the average of the last five years, signalling a relative resilience of the domestic market, despite economic and inflationary pressures, according to ONVPV.Globally, 2024 was a difficult year for the wine sector, marked by extreme weather conditions, historic declines in production and a continuously declining global consumption. According to OIV, global wine production (excluding musts and juices) fell to 225.8 mhl, the lowest level since 1961.Also, OIV estimates for 2024 indicate a world consumption of 214.2 mhl, down 3.3% from 2023 and the lowest since 1961. The downward trend, which began in 2018, reflects changes in consumer behaviour, generational preferences, but also economic pressures such as inflation and declining purchasing power.The European Union produced 138.3 million mhl in 2024 (-3.5% from 2023), recording the lowest production in the 21st century. Italy remains the world's largest producer at 44.1 mhl, followed by France (36.1 mhl, down 23.5%) and Spain (31 mhl).The volume of international trade in wine remained relatively low at 99.8 mhl, this was offset by strong export value, reaching EUR 35.9 billion. Bottled wine (< 2 litres) represented 50.8% of trade volumes globally in 2024 and 67.0% of the value, while sparkling and bag-in-box wines recorded decreases in both volume and value.

Managers estimate price increases in all sectors of economy in the next three months

Fri, 16 May 2025 00:00:00 +0300

Romanian managers estimate, for the period April - June 2025, a moderate increase in economic activity in manufacturing, retail trade and services, as well as an increase in prices in all areas of the economy, according to data published on Monday by the National Institute of Statistics (INS).In the April 2025 conjoint analysis, managers in the manufacturing industry forecast a moderate increase in the volume of production for the next three months (balance of opinion +12%). As for the number of employees, relative stability is estimated, the balance of opinion being -5%. Industrial product prices are forecast to increase over the next three months (balance of opinion +23%).According to the April 2025 estimates, the construction activity will record an increase in the volume of production for the next three months (balance of opinion +26%). Managers estimate a moderate increase in the number of employees (balance of opinion +9%). As for the prices of construction works, they are expected to increase (balance of opinion +36%).In the retail trade sector, managers have estimated a moderate upward trend in economic activity for the next three months (balance of opinion +13%). The volume of orders placed by commercial units with suppliers of goods will increase (balance of opinion +20%). Employers forecast a moderate increase in the number of employees for the next three months (balance of opinion +8%). Managers of commercial companies estimate an increase in retail prices (balance of opinion +36%).According to the April 2025 estimates, the demand for services (turnover) will grow moderately over the next three months (balance of opinion +8%). Managers in the services sector expect the number of employees to remain relatively stable (balance of opinion +1%). According to the managers' opinion, the selling or invoicing prices of services will be on a rising trend (balance of opinion +18%).INS states that the balance of opinion indicates the perception of business managers on the dynamics of a phenomenon that should not be confused with the growth or decline rate of any statistical indicator produced by INS. The percentage of the balance of opinion is obtained as the difference between the percentage of managers who chose the positive variant of the phenomenon and the percentage of those who indicated the negative variant.

Finance Minister: Budget execution in the first three months reflects the challenges of the internal and external economic context

Fri, 16 May 2025 00:00:00 +0300

The budget execution for the first three months of the year shows the challenges of the domestic and foreign economic context, as well as the first results of the measures taken for the restoration of the budgetary balance, sent on Friday the minister of finances, Tanczos Barna.” Investments grow and drop expenses with goods and services” said the minister of his Facebook page.He said that during the first quarter of this year, income registered growth of 6.9% against the same period of last year, VAT collection increased, getting to almost 37 billion lei, investments surpassed 25 billion lei, growing with over 10% against the fist quarter of last year.Similarly, the expenses of the state increased, showing salary and pensions increase offered last year, but there are drops at the level of expenses for goods and services from the state budget and that of local authorities, said Tanczos Barna.”These are trends that must be continued in a more supported rhythms. For this, we need, firstly, political stability, as well as joint effort on the part of state institutions. The reduction of the expenses and observing the limits established through the budget must be a priority for all state institutions, without deviations and compromises” said the minister of finances.

DefMin Tilvar meets European Commissioner for Defence and Space Kubilius

Fri, 16 May 2025 00:00:00 +0300

Romania's Defence Minister Angel Tilvar on Monday met European Commissioner for Defence and Space Andrius Kubilius in Brussels.According to the Romanian Defence Ministry (MApN), discussions aimed at strengthening Romania's defence readiness and intensifying European industrial cooperation, amid the new legislative package adopted by the European Commission, with strategic relevance for the European Union's security.The two officials analysed the means of achieving the objectives set out in the White Paper on European Defence Readiness and discussed capitalising on the financial support available through the "Readiness 2030" Package of Initiatives.Tilvar underlined the need to make European instruments more flexible in order to facilitate defence investments and mentioned Romania's intention to activate the derogation clause provided for in the Stability and Growth Pact. Also, the Romanian official expressed interest in accessing the funding under the SAFE (Safe Action for Europe) instrument, with a priority focus on projects dedicated to land and naval systems, infantry equipment, military counter-mobility solutions, command and control technologies."In a dynamic geopolitical context, defence investment is not only a security necessity, but also an opportunity to strengthen European solidarity. Romania actively follows this role, supporting the projects launched by the European Commission," Tilvar is quoted as saying. Regarding the development of the European defence industry, he pleaded for a balanced geographical distribution of investments and for boosting cross-border collaboration between small and medium-sized enterprises. He also remarked on the importance of expanding strategic partnerships with third countries that share European values, in order to strengthen global supply chains of critical raw materials. The two officials also highlighted the importance of speeding up the process of adopting the regulation on the European Defence Industry Programme (EDIP). (Photo:https://armed.mapn.ro/uploads/imagini/4693/41539.jpg)

Interim President Ilie Bolojan participates in Three Seas Summit Warsaw 2025

Fri, 16 May 2025 00:00:00 +0300

Interim President Ilie Bolojan will participate in the Three Seas Summit Warsaw 2025 on Tuesday.Ilie Bolojan will deliver a speech in the first part of the day, in the segment dedicated to heads of state and government, at the Three Seas Initiative Business Forum.The interim president will then participate, together with several heads of state from the region, in the high-level meeting to be organized at the Royal Castle in Warsaw.Ilie Bolojan arrived in the Polish capital on Monday evening, when he is invited to the official dinner hosted by Andrzej Duda.The summit in Poland marks ten years since the implementation of this initiative, and discussions will focus on regional interconnectivity in transportation and energy, as well as current security issues.The Three Seas Initiative is a flexible and informal political platform at presidential level, bringing together the 12 EU Member States between the Adriatic, Baltic and Black Seas (Austria, Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia, Slovenia, Bulgaria, Croatia, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Poland, Romania, Slovakia and Slovenia). Greece became the 13th country to join the Three Seas Initiative two years ago.The initiative aims to increase convergence and cohesion, while reducing the economic development gap between different areas and EU Member States, by increasing interconnectivity in the region, in the fields of energy, transport and digital. The basic principles of the Three Seas Initiative are promoting economic development, increasing cohesion at European level and strengthening transatlantic ties. (Photo:https://3seas.eu/media/news/sherpas-of-the-three-seas-initiative-warsaw)

Presidential2025/ The last week of the electoral campaign begins

Fri, 16 May 2025 00:00:00 +0300

The last week of electoral campaign started on Monday, at its end,on 4th May the Romanians would be called to vote and elect the future president of the country.The first round of the presidential election is scheduled for 4 May and the second round on 18 May. The presidential election campaign started on 4 April at 00:00 and ends on Saturday morning at 7:00. In the event of a second round of voting, the campaign will start from the date of validation of the results of the first round by the Constitutional Court and will end on 17 May at 07:00. On Friday 2 May, at 7:00 local time, the first day of voting in the diaspora begins. Romanians abroad can vote for their next president for three days: * Friday 2 May, from 7:00 (local time) - 21:00 (local time) * Saturday 3 May from 7am - 9pm (local time) * Sunday, 4 May - polls open at 07:00 (local time) and close at 21:00 (local time or Romanian local time, as applicable); on Sunday, voting closes at 21:00 local time, but no later than 21:00 Romanian local time; on Sunday, voting closes at 21:00 local time, but no later than 21:00 Romanian local time. According to the Central Electoral Bureau, the order of the 11 candidates on the ballot paper is as follows: * position 1 - George Nicolae Simion (Alliance for the Union of Romanians) * position 2 - George Crin Lauren?iu Antonescu (Romania Forward Electoral Alliance) * position 3 - Elena Valerica Lasconi (Union Save Romania) * position 4 - Cristian Vasile Terhes (Romanian National Conservative Party) * position 5 - Marcela Lavinia sandru (Humanist Social Liberal Party) * position 6 - Victor Viorel Ponta (independent candidate) * position 7 - Sebastian Constantin Popescu (New Romania Party) * position 8 - Silviu Predoiu (National Action League Party) * position 9 - John-Ion Banu-Muscel (independent candidate) * position 10 - Petru Daniel Funeriu (independent candidate) * position 11 - Nicusor-Daniel Dan (independent candidate). Five candidates - Elena Lasconi, George Simion, Cristian Terhes, Silviu Predoiu and Sebastian-Constantin Popescu - were also in the running in last year's presidential elections, with the USR leader managing to reach the second round with the independent Calin Georgescu, but the elections were cancelled by the Constitutional Court.

Romania, Bulgaria sign joint procurement agreement for Fast Danube 2 project

Fri, 16 May 2025 00:00:00 +0300

Under an agreement signed on Friday by Bulgaria's Danube River Exploration and Maintenance Executive Agency and Romania's Galati Lower Danube River Administration, Romania and Bulgaria will jointly manage the public procurement for the Fast Danube 2 project, news agency BTA reports.The project is aimed at improving navigation conditions on the joint Bulgarian-Romanian section of the Danube River, the Bulgarian Ministry of Transport and Communications announced on Friday.In the opening of the event, Bulgarian Deputy Transport Minister Angel Zaburtov said that the Fast Danube 2 project will enhance connectivity in the Danube region with the rest of the European Union and facilitate the free movement of people and goods. He underscored that the initiative includes large-scale engineering measures to improve navigational safety in the shared section of the river."The investment is strategically important not only for Bulgaria and Romania, but for the entire European Union. I am confident that with good coordination and teamwork, we will achieve the goals set," said Zaburtov. He added that the project is part of the broader framework of the Trans-European Transport Network and contributes to the optimization of the Rhine-Danube Corridor. "It is an example of sustainable and long-term cooperation between the two neighboring countries in transport infrastructure and regional mobility," the Deputy Minister said.Attending the meeting were Romanian ambassador to Bulgaria Brandusa Ioana Predescu, Secretary of State with Romania's Ministry of Transport and Infrastructure Ionut-Cristian Savoiu, as well as representatives from the European Commission and relevant institutions from both Romania and Bulgaria.The FAST Danube 2 project, worth almost 230 million euros (VAT excluded) was developed in partnership between Bulgaria and Romania, and was approved for financing under the Connecting Europe Facility. The engineering measures planned for the joint section of the river will improve navigation conditions and traffic safety along the Danube.

High Court of Cassation admits appeal against decision on suspending Constitutional Court's annulment of presidential election

Fri, 16 May 2025 00:00:00 +0300

The High Court of Cassation and Justice admitted, on Friday, the appeal against the decision by which the Ploiesti Court of Appeal admitted a request on the suspension of the Constitutional Court of Romania (CCR)'s decision of December 6, 2024 which annulled the presidential election.The Prosecutor's Office with the Ploiesti Court of Appeal and the Constitutional Court of Romania contested the decision of the Ploiesti Court of Appeal. Judicial inspection will perform checks with regard to the possible disciplinary offence committed by the judge of the Court of Appeal Ploiesti who admitted on Thursday the request for suspension of the CCR decision through which the presidential elections were annulled, informs the Superior Council of Magistrate (CSM).' The ordered measure takes into account the fact that in about 30 other identical cases settled by the appeal courts in the country, the decisions pronounced were to reject the action, the judicial practice being uniform in this respect', reads a statement sent by the SCM. A judge of the Court of Appeal Ploiesti admitted a request through which the suspension of the CCR decision of 6 December 2024, through which the presidential elections were annulled.

TikTok launches Electoral Center, dedicated to Romanian elections

Fri, 16 May 2025 00:00:00 +0300

TikTok is strengthening its platform protection efforts by launching the Electoral Center dedicated to the Romanian elections, through a new media education campaign and through continued collaboration with over 20 fact-checking partners, according to a press release sent on Friday."As the next round of elections in Romania approaches, TikTok is today announcing a series of updates that strengthen its ongoing work to protect the platform and connect the community to trusted election information. TikTok gives people the opportunity to discover and connect with the content and creators that inspire them. During election periods, TikTok continuously works to protect the platform and maintain a civilized space where users can express themselves freely and build communities. Thousands of Trust & Safety and Security specialists have protected TikTok in over 200 elections around the world in the last five years, including those in Germany and Croatia, as well as other elections already held in Europe this year. Today, TikTok is strengthening this work with the launch of the Election Center dedicated to the Romanian elections, a new media education campaign, and continued collaboration with over 20 election partners. fact-checking," the statement said.To help the community access official information about these elections, TikTok last week launched an Election Center, available to users through the Search function and through banners displayed on relevant election content. The Election Center provides essential information, important dates, and directs users to the Permanent Electoral Authority website. It also includes information about TikTok policies and media literacy tips for creating, sharing, and engaging with content, developed in partnership with Funky Citizens.At the same time, the platform continues to invest in media education initiatives to provide community members with the necessary skills to critically analyze online content, identify disinformation, and access trusted sources."Ahead of the Romanian presidential elections, TikTok is launching a media education campaign in collaboration with a number of important media partners in Romania to encourage critical thinking and help the community distinguish between fact and fiction when viewing online content. As part of the campaign, media partners have produced a series of educational videos that explain how users can recognize and avoid misinformation, provide them with the necessary tools to critically evaluate online content, and guide them to official sources. These videos are available to the Romanian community through the Electoral Center and will be actively promoted to ensure their visibility during the electoral period," the press release points out.According to the source, the development of the Election Center is just one part of a broader effort to protect TikTok's integrity. This effort is led by the Elections Working Group, which is comprised of experts in cybersecurity, fraud, disinformation, and election integrity. The working group is coordinating efforts to protect the platform, using both advanced moderation technologies and human moderation. They continue to rigorously protect the TikTok community so that people can safely express themselves on topics that matter to them, by implementing a series of measures designed to ensure compliance with the policies detailed in the global hub for election integrity.The platform actively collaborates with all relevant authorities in the context of elections, providing them with dedicated channels through which they can report content that they believe may violate either the TikTok Community Guidelines or applicable regulations. In preparation for the upcoming elections, it has further expanded access to these tools by adding additional government institutions and local specialized institutions."This initiative increases transparency while reinforcing TikTok's strong commitment to working closely with local regulators. It also builds on TikTok's already ongoing work with local institutions such as fact-checkers and NGOs, which it has added to TikTok's Community Partners Channel. Furthermore, TikTok is working within the European Union's Code of Conduct on Disinformation Rapid Response System, which helps address urgent challenges that could jeopardize the integrity of the electoral process. TikTok is continuously working to preserve the integrity of the platform, especially during elections. In Romania, TikTok will continue to invest in preventing potential threats and facilitating access to safe sources of information for those interacting with electoral content on the app, while also collaborating with national and regional authorities," the quoted source states.

Acting president Bolojan meets ODIHR delegation tasked with observing presidential election process

Fri, 16 May 2025 00:00:00 +0300

Acting President Ilie Bolojan met on Friday at the Cotroceni Palace with a delegation of the OSCE Office for Democratic Institutions and Human Rights (ODIHR) led by Eoghan Murphy, head of the election observation mission to Romania.According to the Presidential Administration, the acting president expressed Romania's support for the activity of ODIHR and emphasized its allegiance to the democratic principles and the proper functioning of state institutions."Organizing free, fair and transparent elections is a priority for the Romanian authorities, which will ensure the observance of the law," the cited source said. The Romanian side also conveyed its full availability for dialogue and cooperation with the ODIHR representatives.The ODIHR delegation is in Romania as part of an election observation mission, with the task of assessing the conduct of the upcoming presidential election in accordance with international standards and the commitments assumed by Romania as an OSCE member state. (Photo:https://www.presidency.ro/)

ForMin Hurezeanu, in Vienna: Romania maintains commitment to protect EU's external borders

Fri, 16 May 2025 00:00:00 +0300

Romania maintains its commitment to protecting the EU's external borders, Foreign Minister Emil Hurezeanu said during a joint press conference with his Austrian counterpart, Beate Meinl-Reisinger.The head of Romanian diplomacy was on a working visit to the Austrian capital on Thursday and Friday."When I was in Vienna as Romania's ambassador, I found in you a strong supporter of my country's accession to the Schengen area," Hurezeanu addressed the Austrian minister.After entering the European free movement area, "Romania maintains its commitment to protecting the EU's external borders, combating illegal migration and fighting cross-border criminal networks," he pointed out.Emil Hurezeanu also highlighted bilateral economic collaboration."The Neptun Deep project, the largest offshore natural gas exploitation project in the Black Sea, is illustrative of Romanian-Austrian collaboration. It will have a positive impact on the energy market not only in Romania, but also at a regional level. At the same time, it will consolidate Romania's role as the largest natural gas producer in the EU," the minister said.Hurezeanu also appreciated Austria's support for our country's accession to the OECD."We appreciate Austria's support for this strategic priority of Romania's foreign policy. Moreover, I am convinced that Romania's accession will contribute to strengthening relations between our states, including from the perspective of investments and the business environment," he emphasized.According to the minister, at this moment, a process of redefining policy priorities is underway in the new international context."Both Romania and Austria are supporters of an efficient and strong Union, based on solidarity. I believe that the new context opens up new opportunities for cooperation for our states in promoting at European level objectives aimed at the Union's competitiveness, energy security and internal security," stated Emil Hurezeanu.The two ministers also discussed the consequences of the war of aggression launched by the Russian Federation against Ukraine."I have shown that a just and lasting peace in Ukraine can only be achieved by basing it on the UN Charter and the principles of international law. The recent, brutal attacks by Russian forces against Ukrainian civilian targets demonstrate that Russia does not want peace. I have shown that Romania will play an active role in the reconstruction process of Ukraine," Hurezeanu said.He also advocated for the EU's support for the Republic of Moldova, the support being "essential" for Chisinau's stability, democratic path and sustained pace of European integration.The Foreign Minister was also received by the Federal President of Austria, Alexander Van der Bellen, and by the Federal Chancellor Christian Stocker.Hurezeanu was awarded the "Grand Order of Honor in Silver, with Ribbon, for Merits to the Republic of Austria" by the federal president. (Photo:www.mae.ro)

ASF: New regulation on private pension scheme market, a decisive step towards Romania's joining OECD

Fri, 16 May 2025 00:00:00 +0300

Romania is taking a decisive step towards joining the Organization for Economic Cooperation and Development (OECD) after the government adopted on Wednesday a regulatory act aimed at amending the legislative framework governing the private pension scheme market, the Financial Supervisory Authority (ASF) said in a release."The regulatory act adopted by the government amends the legislative framework governing the private pension scheme market, regarding mainly: rendering investment limits more flexible, according to OECD recommendations; the possibility for pension funds to invest in assets traded on regulated and supervised markets in OECD member countries; offering participants the possibility to choose their pension fund depending on the desired level of risk and taking into account the implementation of certain strategies whereby the investment portfolio is adapted according to the participant's age (e.g. funds that automatically adjust the investment risk as the participant approaches retirement age)," the release states.According to the ASF, the amendment of the provisions regarding investments, specifically the creation of the possibility of investing in assets issued/traded in states adhering to the liberalization codes and the flexibility of investment limits, according to OECD recommendations, aims to mobilize investments to finance growth and innovation. Both the higher flexibility of investments and the diversification of the investment area will have a stimulating impact on the development of capital markets.The administrators of privately managed pension schemes (Pillar II) and of voluntary pension schemes (Pillar III) will be able to allocate up to 10%, respectively 15% of assets in equity issued by collective investment undertakings in transferable securities from Romania or from other countries. Thus, by increasing the exposure limit in these financial instruments, the premises for the development of the local market and the financing of the economy are created."The adoption of this legislative project marks a milestone for the evolution of Romania's private pension system and for our path towards joining the OECD. The recommendations formulated by international experts reflect a rigorous assessment of the progress made so far, but also of the necessary steps we must take in the coming period. We are ready to strengthen risk-based supervision and support a modern, flexible and transparent regulatory framework, for the benefit of all participants in private pension schemes," declared Alexandru Petrescu, president of the Financial Supervisory Authority.The OECD assessment highlighted both Romania's commitment to adopting OECD legal instruments and the alignment of national policies and practices with the best international standards in the field of private pension schemes.The Emergency Ordinance adopted by the government on Wednesday, based on the recommendations made by OECD experts, amends and complements the provisions of Law No. 411/2004 (on privately managed pension schemes), Law No. 204/2006 (on voluntary pension schemes), as well as of Law No. 1/2020 (on occupational pension schemes).Other newly introduced legislative amendments aim at: introducing the OECD liberalization codes - capital movements and invisible current operations as legal reference instruments; expanding market access for managers and lending institutions from OECD member states; simplifying the conditions of access to voluntary pension schemes, by eliminating the requirement of a minimum number of contributions; strengthening the supervisory capacity of the ASF, in order to protect the interests of participants and market stability.According to the ASF, through these measures Romania reinforces its commitment to align the private pension system with the highest international standards and to effectively protect the taxpayers' interests, making strides toward OECD accession, a major goal of the Romanian foreign policy.

World Bank estimates economic growth of 1.3% for Romania in 2025

Fri, 16 May 2025 00:00:00 +0300

The World Bank (WB) estimates a slowdown in growth in developing economies in the Europe and Central Asia (ECA) region to 2.5% in the period 2025-2026, for Romania predicting an economic growth of 1.3% in 2025 and 1.9% in 2026, according to the ECA Economic Update Report for the region, published on Wednesday.Economic growth in developing economies in the Europe and Central Asia (ECA) region is likely to slow, according to the World Bank's ECA Economic Update Report for the region, published on Wednesday. Growth in the ECA region is now estimated at 2.5% for the period 2025-26, due to weaker external demand and the slowdown in Russia, a WB release said.According to the cited source, in 2024, growth in the region as a whole stabilized at 3.6%, supported by private consumption and robust real wage growth, higher remittances and consumer credit growth, all of which offset weaker external demand due to reduced economic growth in the European Union.Higher increases in food and services prices led to higher inflation, which reached 5% in February 2025, from 3.6% in mid-2024. The recent increase in inflation has prompted several central banks to raise monetary policy rates or postpone further easing.For the region's middle-income countries to achieve high-income status, their economies need to become more dynamic. Countries that have successfully transitioned to high-income status have done so through entrepreneurial dynamism and innovation, and should sustain this growth by leveraging technology, expertise, and capital to drive productivity growth within companies, the source said.Innovation and business experimentation are essential for increasing productivity and a prerequisite for achieving and maintaining high-income economy status. Middle-income countries in the region can achieve high-income status if firms grow, innovate and compete. While each country needs its own approach to restarting growth, stimulating innovation and facilitating business dynamism are crucial, said Ivailo Izvorski, World Bank Chief Economist for Europe and Central Asia.The report shows that there is a need to invest in young and innovative companies, rather than in the entire small and medium-sized enterprise (SME) sector, as these companies generate jobs. This approach should be supported by improving access to finance, in particular long-term and venture capital. The region lacks sufficient finance, as venture capital and equity financing remain underdeveloped.Stimulating competition is essential to enable the emergence of dynamic firms. The region has too many small, low-productivity businesses and too few large companies outside of state-owned enterprises that often dominate markets and stifle entrepreneurial dynamism. Policies that encourage business innovation and technology adoption, such as greater and better-targeted R&D incentives, are also needed to help firms become more productive and innovative. Many firms in the region currently rely on reallocation of resources and operate as production units for foreign companies, rather than developing their own technologies, the release reads.Ultimately, investment in human capital is essential for attracting and retaining highly qualified employees and entrepreneurs, as well as for creating opportunities to improve skills through professional training.

Opening Remarks at the Press Conference for the IMF Regional Economic Outlook for Europe by Alfred Kammer

Fri, 16 May 2025 00:00:00 +0300

April 24, 2025 Welcome to today’s press conference on the economic outlook for Europe. Since our last briefing in October, the global economy has seen fundamental shifts in trade policies. Forecast We have downgraded Europe’s growth outlook as a result. For the euro area, we forecast growth rates of 0.8 and 1.2 percent for 2025 and 2026. The size of the downgrade relative to our latest forecast in January 2025 is -0.2 percentage points for both years and broad based across countries (Table 1). The increase in US tariffs[1], elevated uncertainty and tighter financial conditions are weakening activity in 2025 and weigh on the expected pick up in domestic demand in 2026 and 2027. Risks to growth are to the downside as trade tensions and uncertainty could deteriorate further. Financial conditions could become tighter, and even though the financial system generally appears resilient, strains could occur. Larger fiscal easing due to higher defense spending and lower energy prices are upside risks, especially beyond 2025. Growth in the Central, Eastern, and Southeastern European (CESEE) region[2] has been downgraded by more. Our forecast is for 2.6 and 3.0 percent growth in 2025 and 2026 (Figure 1). This sizeable downgrade is primarily due to a comparatively larger trade-exposed manufacturing sector in the region. The downgrades would have been larger if there were not offsetting factors. New public spending such as Germany's €500 billion infrastructure package and increased defense spending across Europe are supporting demand going forward. Overall, the impacts of this extra spending on euro area growth are 0.1 and 0.2 percentage points of GDP in 2025 and 2026. On the inflation front, we see faster convergence to targets driven by lower energy prices and dampened demand (Figure 2). Euro area inflation is forecast to reach target sustainably in the second half of 2025 slightly faster than previously anticipated due to lower energy prices and softer demand. However, for the CESEE region, inflation rates are likely to remain above targets well into 2026 and for some until 2027 due to persistent services inflation and high labor costs. In several countries, such as Romania, Hungary, and Poland, high wage growth may take time to come down and could slow disinflation. Medium-Term Outlook Europe’s medium growth prospects need some bolstering. The changes in the external environment come at a time of deep structural transformations: Europe’s population is aging, and by 2050 the working-age population will have shrunk in more than two-thirds of EU countries. The arrival of new technologies in automobile and AI sectors have the potential to transform entire industries and services, and energy costs have risen sharply. Finally, private investment and productivity growth have slowed for some time. As we have shown in recent work (IMF October 2024), European firms have fallen behind the global productivity frontier. What is missing? Our research points to Europe’s still very fragmented single market (IMF October 2024a). This includes barriers in goods and services markets and segmented capital and labor markets which limit companies’ incentives and ability to innovate and scale up (Arnold, Claveres and Frie, 2024). But Europe needs to grow faster to meet rising public spending needs (Figure 3). Over the next 25 years, social, defense, and climate spending alone will add almost 5 ¾ percentage points of GDP to budgets in advanced economies, and 8 percentage points in emerging Europe (Eble et al., 2025). Policy Prescriptions So, what type of policies should Europe implement to navigate these turbulent times and secure the future? First, Europe should aim for more, not less trade. Preserving openness is crucial given the importance of trade (Figure 5), and Europe should continue to expand its network of free trade agreements. When dealing with trade shocks, any support to viable businesses aimed at mitigating tariff impacts should be temporary and targeted. Europe should protect people, but we have to be cautious not to stand in the way of inevitable structural change. Lastly, the impact of possible trade diversion should be carefully assessed. Large tariffs between the U.S. and China will potentially bring additional imports into Europe. Our preliminary estimates are for higher imports from China of around 0.25 percent of EU GDP in the near term. Trade diversion would likely also lower input costs for European firms and prices for consumers. Overall, impacts from this channel would appear to be of a manageable magnitude. And European exports will likely be affected as well. The net effects of all this are difficult gauge. This makes it even more important that sector-specific safeguards should only be considered where viable firms are at risk. Measures should align with WTO principles, be time-limited, and well-communicated. Second, European policy makers should ensure stability through balanced macroeconomic policies. Inflation rates are now close to targets. With the tremendous success of the ECB’s disinflation effort, central banks should continue to normalize monetary policy with caution. Global tensions could cause inflation expectations to drift up again, though a deeper economic downturn in Europe would pressure them downward. Monetary policy must remain agile and focused on durably reaching targets. We recommend that the ECB lower the policy rate to 2 percent this summer and maintain it there, barring major shocks. In CESEE countries, where inflation is still higher and more persistent, central banks should ease cautiously. For most countries, rebuilding fiscal buffers remains a priority. Those with low deficits and debt can temporarily accommodate priority defense spending, but they will need to return to debt sustainability goals over time. Countries with high debt levels should either reallocate spending or boost fiscal revenues without delay. Finally, Europe must meet the moment and focus on growth and resilience. Embracing its structural reform agenda at the EU and national level can unlock Europe’s growth potential and make it more robust. Barriers to trade within the EU are still substantial (Adilbish et al., 2025). The potential power of integration is immense (Figure 6) The last enlargement wave in 2004, led new member states to increase their GDP per person by 30 percent after 15 years versus what it would have been without accession (IMF October 2024b). In forthcoming work, we estimate that selected, actionable EU-level reforms could increase EU GDP by around 3 percent over the next decade. Key areas for improvement include lowering barriers to labor mobility, enhancing the functioning of capital markets, creating a more integrated electricity market, and harmonizing laws and regulations, such as through a 28th regime (IMF, 2025). These reforms would also make Europe’ economy more resilient to shocks. But there is also large untapped growth potential on the domestic front. In another forthcoming study, we find that comprehensive national reforms could raise real GDP levels by about 5 percent in advanced Europe and between 7 to 9 percent in the CESEE region. These reforms would remove inefficiencies at home and complement EU-wide reforms. The biggest gains would come from raising skills of workers and improving the functioning of labor markets. For most advanced European economies, national reforms should also focus on boosting innovation. For several CESEE countries large gains would come from strengthening the rule of law and combatting corruption. Successful implementation of these reforms will require political will. The potential gains are large. Progress is now urgently needed for Europe to grow and maintain its quality of life. Thank you. (Source:https://www.imf.org/)

Gov't adopts National Green Procurement Program 2025 - 2030

Fri, 16 May 2025 00:00:00 +0300

The government approved on Thursday the National Green Procurement Program (PNAE) 2025 - 2030 put forward by the Ministry of Environment, Waters and Forestry, which will stimulate the procurement by central and local governments of environmentally low-impact products, services and works, the relevant ministry announced in a release."Stimulating the procurement at the level of central and local governments of environmentally low-impact products, services and works is an important element for the conservation of natural resources, the transition to a circular economy, energy and cost savings. At the same time, the implementation of the National Green Procurement Program will generate sustainable business models, help create green jobs and increased incomes, while consumers will benefit from sustainable and innovative products which will contribute to increasing the quality of life and to long-term savings," Minister Mircea Fechet said.According to the cited source, by developing the National Green Procurement Program 2025 - 2030, Romania complies with European targets, as it was the only member state that did not have until now an action plan regarding green public procurement."The National Green Procurement Program sets targets for speeding up the transition to sustainable consumption and production models, as well as supporting contracting authorities/entities in purchasing products and services with reduced environmental impact and changing consumer behavior towards sustainable products, services and works. The program will also support the participation of SMEs in the European single market and support contracting entities in applying environmental criteria. Also, it will contribute to educating the business environment in terms of compliance with the principles of sustainable development," the release states.The products, services and works for which annual public procurement targets are established for the period 2025-2030 are: computers, monitors, tablets, smartphones; copy paper and graphic paper; image processing equipment, consumables for image processing equipment; furniture; interior cleaning products; food; textile products; electrical and electronic equipment used in the healthcare sector; products for the arrangement of green public spaces; water-based heating plants; road lighting and road signaling systems; road transport vehicles; data centers, server rooms and cloud services; catering services; interior cleaning services; paints, varnishes and road markings; public space maintenance; road transport services; printing services; design, construction and management of buildings; design, construction and maintenance of roads; textile services (laundry, repair, maintenance, textile takeover).The National Green Procurement Program 2025 - 2030 was conceived by having in view the goals of the National Strategy for Romania's Sustainable Development 2030, the National Public Procurement Strategy 2023 - 2027 approved by Government Decision No. 554/2023, the National Strategy on Circular Economy approved by Government Decision No. 1172/2022, with subsequent additions and other relevant strategic documents.The National Green Procurement Program 2025 - 2030 represents one of the commitments undertaken by Romania in order to align with the provisions of OECD legal instruments.

Romania and Moldova to launch construction of first road bridge over Prut in last six decades

Fri, 16 May 2025 00:00:00 +0300

The Republic of Moldova and Romania will jointly mark, on Saturday, the launch of the construction of the first motorway bridge over the Prut River in the last six decades - the Ungheni Bridge, through a symbolic event generically called the "Flower Bridge" Festival.The bridge will connect the Zagarancea locality in Ungheni district (the Republic of Moldova) and the Golaesti commune in Iasi county (Romania), being part of the Unirii Motorway (A8), with a major role in the interconnection of the two national road networks - the Targu Mures - Iasi - Ungheni Motorway and the future Ungheni - Chisinau Motorway, both with an estimated completion date of 2030.This is the first of the five new bridges over the Prut River set for execution, for which there is already a design and execution contract signed last fall.Officials from Chisinau, Bucharest, Brussels will participate in the event, along with local authorities and citizens from both banks of the Prut.The "Flower Bridge" festival will start at 12:00 hours in Independence Square in Ungheni, which will become the scene of a landmark event for the relationship between Romania and the Republic of Moldova.And starting at 15:30 hours, drilling work will begin on both banks of the Prut River, through a demonstration with the participation of citizens, officials and the press, in the village of Zagarancea, on the bridge construction site. (Photo: CNAIR)

AtlasIntel survey: 11 days before presidential elections – George Simion ranks first with 31.9% of options, Antonescu second, followed by Nicusor Dan

Fri, 16 May 2025 00:00:00 +0300

AUR candidate George Simion, continues torank first in the race for the first round of presidential elections of May 4, according to an opinion poll made by AtlasIntel for HotNews, over April 17-22. Data show that Simion lost in 9 days most of what he had won in a month, for the second round of elections. At the same time, he reduced the difference to any oponent, in a presidential final round. According to the survey, Simion is credited with 31.9% of the options of people who answered the question. That means that after having grown by 3% over April 10-13, compared to March, the AUR candidate lost about half of it accrding to HotNews. Crin Antonescu, the PSD-PNL-UDMR candidate ranks second, credited with 22.6% of votes, 2% less than 9 days ago, when he had 24.7%. Independent candidate Nicusor Dan is 0.6% below, with 22%, with a slight increase to 21.2%. Ranking 4th is Victor Ponta, credited with 10.2%, from 9.7%, while Elena Lasconi is 5th, with 5.5%, slightly higher than in the previous survey. In the second round, George Simion gets fewer votes than his counterparts, except for Victor Ponta. However, Crin Antonescu's advance versus George Simion drops from 12.9% to 5%, Lasconi's advance versus Simion drops from 3.5% to 2%, Nicusor Dan's advance versus George Simion drops from 3.2% to 3%. At the same time, in a final round Nicusor Dan-Crin Antonescu, the latter would get 31% of votes versus 28% of the general mayor's votes, while the percentages of I don;t know/I don't vote/ nul vote – are the highest of all scenarios – 41%. AtlasIntel survey was made on a sample of 3,701 respondents, through the digital random recruiting methos (Atlas RDR) and has a margin of error of +/- 2%, for a confidence degree of 95%.

Ploiesti Court of Appeal suspends execution of Constitutional Court's decision on annulment of presidential election

Fri, 16 May 2025 00:00:00 +0300

A judge with the Ploiesti Court of Appeal admitted a request on the suspension of the Constitutional Court (CCR)'s decision of December 6, 2024 which annulled the presidential election.''Admits the request on the suspension of the execution of the contested administrative act. Suspends the execution of the Constitutional Court's Decision no. 32 of December 6, 2024, until the final resolution of the case. Admits the action for annulment. Annuls the Constitutional Court's Decision no. 32 of December 6, 2024. Orders the defendant to pay the plaintiff's legal costs in the amount of 70 lei, representing the judicial stamp duty. With the right to appeal within 5 days of the ruling'', according to the minutes of the ruling.The ruling can be appealed to the High Court of Cassation and Justice. Former JusMin Toader: Constitutional Court's decisions are final and not subject to any appeal The decisions of the Constitutional Court of Romania (CCR) are final and are not subject to any appeal, professor Tudorel Toader, former judge with the CRR and former minister of Justice, said.According to his statements, "the judge who pronounced such a decision [suspending the CCR decision on the annulment of the presidential election of November 24, 2024] managed to put his name into public discussion, even if through an inadmissible decision, outside the constitutional legal requirements".Former judge Cristi Danilet also stated that the decision of the Ploiesti Court of Appeal is “a judicial aberration”, because “a court cannot suspend or annul a CCR decision”. In an initial reaction after the Ploiesti Court of Appeal decision, George Simion spoke about “returning to democracy and the rule of law.” “I support the return to democracy, to constitutional order and the rule of law: all of this means TURU2INAPOI!” George Simion wrote on Facebook. On December 6, 2024, the Constitutional Court annulled the results of the first round of the presidential elections, won by Calin Georgescu, based on declassified documents received by the CSAT from the SRI, SIE, MAI and STS. The SRI reports speak of an operation prepared in advance, in favor of Calin Georgescu, and which has the “mode of operation of a state actor”. BEC: The electoral process for the presidential elections scheduled for May 4 continues The Central Electoral Bureau (BEC) announced on Thursday evening that the electoral process for the presidential elections scheduled for May 4 continues. “The activity of all offices continues on the basis of and for the execution of the measures provided for by the normative acts and administrative acts of a normative nature that target the current procedure for electing the President of Romania,” a BEC press release states.

Acting President Bolojan meets Commissioner Serafin, advocates maintaining Cohesion and CAP allocations

Fri, 16 May 2025 00:00:00 +0300

Acting President Ilie Bolojan met on Thursday at Cotroceni Palace with European Commissioner for Budget, Anti-Fraud and Public Administration Piotr Serafin, to whom he highlighted the importance of Cohesion Policy and Common Agricultural Policy allocations being maintained in the future EU budget and of identifying solutions to the current challenges in the areas of competitiveness, defense and security."At the meeting with EU Commissioner Piotr Serafin I underlined the importance of maintaining the role and allocations for the Cohesion and Common Agricultural Policies in the future EU budget, while working to find solutions to address the current challenges in the areas of competitiveness, defense, and security," Ilie Bolojan wrote on X.According to a statement by the Presidential Administration, the European Commissioner's visit to Romania is part of a tour of EU member states aimed at discussing the post-2027 budget of the European Union, in order to align national perspectives with the strategic priorities of the Union. "This approach is intended to adopt budgetary decisions that reflect common interests and bring concrete benefits to all European citizens," the cited source specifies.The acting president explained that from Romania's point of view, the Union's future Multiannual Financial Framework must be simplified and flexible enough to respond to potential unforeseen developments and to ensure the financial support for Romania's and the Union's development goals. Also, he underscored the importance of adjusting the EU budget to the specific conditions of the member states.Ilie Bolojan advocated maintaining the role of traditional policies in the architecture of the future EU budget, including keeping the Common Agricultural Policy as a separate policy, with a substantial budget and fair incomes for farmers.The Romanian president also referred to the importance of strengthening financing for the European defense sector in the Union's future budget, highlighting the need for a robust approach that responds to the new geopolitical and security challenges. In this regard, he spoke in favor of an adequate distribution of defense funds, with priority for border states, that are more exposed to geopolitical risks, in order to ensure the European Union's security and resilience.Commissioner Serafin reaffirmed the European Commission's commitment to an ambitious financial projection well adapted to future challenges, which will continue to support economic development, competitiveness, cohesion, and will respond to security and defense challenges in all member states. He also emphasized that simplification and flexibility are major targets in the architecture of the future EU budget.Another component of European Commissioner Piotr Serafin's visit to Romania is viewing several projects carried out with European funding in the city of Oradea, as a model of best practices. "This is an opportunity to explore how Romania has benefited from European resources to support various development projects and to highlight the role and concrete benefits of the cohesion policy for local communities," the cited source said.The European Commission's representative is on a two-day visit to Romania. According to the European Commission Representation in Bucharest, the visit will focus on improving social inclusion, creating jobs and strengthening local communities with the help of EU funds.Commissioner Piotr Serafim's schedule includes discussions with authorities and stakeholders to better support Romania's economic growth and align the country's priorities with the plans for the future EU budget. The visit is part of the European Commission's pan-European consultations ahead of the unveiling of the next long-term EU budget, scheduled for July this year.European Commissioner Piotr Serafin also met with Prime Minister Marcel Ciolacu, and will also meet with Interior Minister Catalin Predoiu to discuss security, border protection and migration management, with a focus on Romania's essential role in protecting the EU's external borders.Serafin will also meet with Romanian businesspeople and investor groups to get their views on how current EU funding is working.On Friday he will travel to Oradea, where he will visit important infrastructure projects, such as the County Hospital and Oradea Airport. (Photo: https://www.presidency.ro/)

Gov't approves day of national mourning in Romania in memory of Pope Francis

Fri, 16 May 2025 00:00:00 +0300

Prime Minister Marcel Ciolacu has announced that Saturday April 26 will be a day of national mourning in Romania in memory of Pope Francis, saying that this is a "decision that shows deep respect for the total openness and warmth permanently shown to Romanians.""We approve a day of national mourning in Romania in memory of Pope Francis, on Saturday, April 26, on the very day of the funeral at the Vatican. It is a decision that shows the deep respect for his total openness and warmth permanently shown to Romanians. Like any Christian, I felt that his presence was a blessing for all humanity," the prime minister said at the beginning of a government meeting on Thursday.Also on Thursday, Ciolacu wrote a message in a condolence book opened at the Apostolic Nunciature to Romania in memory of Pope Francis. He announced that he will attend the pope's funeral.The funeral of Pope Francis, who died on Monday at the age of 88, will take place on Saturday morning in St. Peter's Square, where hundreds of thousands of believers are expected.

Gas production down almost 2pct, imports up 23pct, two months into 2025

Fri, 16 May 2025 00:00:00 +0300

Romania's usable natural gas production in the first two months of 2025 was standing at 1.26 million tons of oil equivalent (toe), down 23,800 toe year-on-year, at minus 1.9%, according to data with the National Institute of Statistics (INS).On the other hand, in the first two months of this year, natural gas imports increased by 23% (plus 255,200 toe) year-on-year, to 462,700 toe.According to estimates of the country's by the National Board for Economic Strategy and Forecast (CNSP), natural gas production is expected to grow by 2027 at an average annual rate of 1.7%. Thus, in the latest Energy Balance Forecast, a natural gas production of 7.79 million toe (plus 1.5%) was estimated for 2025, a natural gas production of 7.907 million toe (plus 1.5%) for 2026 and a natural gas production of 8.176 million toe (plus 3.4%) for 2027.As for imports, a downward trend is expected at a more pronounced pace by 2027 (minus 6%), in line with the advance of production, through the commissioning of new capacities, and also taking into account transit to foreign markets continuing.CNSP is expecting 2025 natural gas imports of 2.211 million toe (-7.6%), 2026 imports of 2.150 million toe (-2.7%) and for 2027 imports of 2.022 million toe (-6%).

Romanian Photovoltaic Industry Association supports investments in energy storage and grid digitalization

Fri, 16 May 2025 00:00:00 +0300

The Romanian Photovoltaic Industry Association (RPIA) underlines the need to support investments in storage capacity, transmission and distribution infrastructure, grid digitalization and electrification to ensure the balance and resilience of the National Energy System, especially in periods of low consumption.According to a press release of the organization, in the last three years, as a result of the European Green Deal and of the strategies to reduce dependence on fossil fuel imports, the renewable energy sector in Romania has experienced significant growth. The photovoltaic industry, in particular, stood out as the fastest growing segment, reaching from 1.4 GW in 2021 to more than 5 GW in 2025, distributed approximately equally between prosumers' installations and large-scale power plants."In the context of the approaching Easter holidays, a period when, traditionally, economic activity slows down and energy demand drops significantly, especially in the industrial and commercial sectors, concerns have arisen in the public space about the possibility of interruptions in electricity supply caused by the overproduction of the renewable energy power plants," the source cited.The Romanian Photovoltaic Industry Association believes that the Ministry of Energy reacted proactively to these concerns by setting up an operational command center dedicated to overseeing and maintaining the balance in the National Energy System during the holidays. In collaboration with operators in the sector, a series of coordinated actions have been established in order to adapt production to the expected demand, such as reducing hydropower production, reducing the power of nuclear units by up to 40% and adjusting the operation of ELCEN power plants, while providing assurances that the electricity supply will not be affected. Moreover, Transelectrica, as Transmission and System Operator, has real-time monitoring and intervention tools and, together with the National Power Dispatcher, can effectively manage variations, as demonstrated during the Palm Sunday weekend this year."In less than three years, solar energy has become an essential component of the national mix, and the capacity of the system to integrate intermittent generation from renewable sources is continuously improving. Investments in storage technologies, modernization of transmission and distribution infrastructure, demand flexibility, electrification and increasing awareness of the functioning of an increasingly decentralized energy system remain priorities to consolidate this progress," the organization's press release reads.RPIA reiterates its openness for institutional dialogue and cooperation with all relevant stakeholders, as well as its commitment to support sustainable solutions in the energy transition in order to strengthen a sustainable and predictable framework.

Nuclearelectrica: We are preparing the feasibility and bankability studies for the SMR project

Fri, 16 May 2025 00:00:00 +0300

A small modular reactor (SMR) project in Doicesti, Dambovita County, continues, as feasibility and bankability studies are being worked out that will determine an investment decision and the next steps, General Manager of the Nuclearelectrica Cosmin Ghita said at a conference on energy issues."The SMR project continues. We are in the Feed 2 phase at Doicesti, where we have both ongoing site assessments and the development of the plant project related to our grid. We are preparing the feasibility and bankability studies that can substantiate an investment decision and move forward with the next steps. When we have all the elements ready, we will submit them to the shareholders' approval for a final decision," said Ghita.He added that the development of such plants represents a fairly large opportunity, because in the European Union, if the pledged decarbonisation targets are maintained, and even if they were not - as many of the plants that use coal will reach the end of exploitation - this energy source will have to be replaced with another type of production, that can deliver energy continuously and can enter the system quickly enough to be able to offer control services and certain delivery conditions."That is, to fulfil those functions that the coal-fired power plants performed. (... ) At the moment, considering all types of energy, these functions are best replicated through this nuclear technology, which can offer a very good solution."According to Ghita, in the production of nuclear energy there is "a supplement" of energy security, due to the fact that it is resilient, it is not dependent on weather conditions, its dependencies being as low as possible."Nuclear energy comes to complement other types of energy that we have at the moment. In order to be able to cope with all the electricity demands that are forecast by the end of the decade and in the following decade - especially if we also take into account the phenomenon of data centres which are highly energy-intensive, industrialisation programmes currently being promoted at government level and other elements - we will need a surplus of electricity and that cannot be achieved by a single source alone. That's why we need a mix, and in this mix I see large nuclear power plants as being able to represent a backbone of the energy system, and SMR plants can come to bring those functions that coal-fired plants used to perform in a system that can be a little more volatile due to a larger footprint of renewable energy sources."Ghita added that Nuclearelectrica is engaged in a fairly large development project related to the decarbonisation targets pledged by Romania, which aims to deliver approximately 2,000 MW of clean energy installed by the end of the decade, or at least by 2032."In this regard, the projects to which I refer are those designed to increase power generation, such as the projects of units 3 and 4 of the Cernavoda nuclear-power plant, the project of small modular reactors and the refurbishment project, which add another 30 years of operation to unit 1. In addition, we also have the detrition plant, which is a project that helps improve the conditions on the Cernavoda nuclear power platform, and also those that are necessary for health, by developing the production of medical isotopes," Ghita told Energy Forum organised by Financial Intelligence.

Romania promotes its destinations at Kazakhstan International Tourism Fair

Fri, 16 May 2025 00:00:00 +0300

Starting April 23, Romania participates in the 23rd edition of the Kazakhstan International Tourism Fair (KITF), promoting at its stand picturesque destinations such as Mures, Harghita, Bucovina, but also the seaside attractions of Constanta - Mamaia."Romania's entry to the Schengen Area made us the star destination at the fair this year, where tour operators from Kazakhstan, Azerbaijan, Turkmenistan and Asian countries stormed Romania's stand, just like the year before. If at any tourism fair in Europe we are 'just' another European country, being outshined by the large and generous stands of competing European destinations which have much larger promotion budgets, at the Kazakhstan Fair we are a star destination, as we represent the gateway to a holiday experience in Europe," declared Corina Martin, secretary general of the Employers Federation of Romania's Hospitality Industry (FPIOR) and honorary consul of the Republic of Kazakhstan to Romania, as cited in a release.She underscored that participation in the fair is extremely important in order to be able to showcase Romanian destinations to Kazakh tourists "right at their home"."For the first time last year we proposed the public ministry and the colleagues in the industry that we start promoting ourselves on an extremely important tourist market, not yet tapped into by Romania, and I thank Minister of Economy, Entrepreneurship, Digital Transformation and Tourism Bogdan Ivan and our colleagues from Mures, Harghita and Bucovina - present with us here, for enabling us to further rely on the timeliness and importance of presenting Romanian destinations on the Kazakh tourist market, at home, through Romania's participation in this fair," said Corina Martin.According to her, there are several thousand Kazakh employees at the refineries Petromidia Navodari and Vega, Ploiesti, and they are visited annually by family and friends, who return and spread the word about "Romania's unique tourist attractions". Among the favorites are: Dracula's Castle in Bran, Peles Castle in Sinaia, the Transfagarasan mountain motorway, Transylvania, the Danube Delta and the multiethnic and rich region of Dobrogea with its diversified littoral resorts and Ana Aslan rejuvenation therapies.An official meeting took place on Wednesday at the fair with Kazakhstan's Deputy Minister of Tourism and Sport Yerzhan Yerkinbayev, where the sides agreed to conclude a Memorandum of Cooperation on the cross-promotion of the two destinations - Romania and Kazakhstan."I am glad that we received the Kazakh official's approval and we will submit as soon as possible the proposal for the cross-organization of info trips with Kazakh journalists, bloggers and tour operators in Romania, and Romanians in Kazakhstan, respectively. Currently, the Port of Constanta has become a nodal center of major interest in the movement of goods between the Caucasus basin and Western Europe, which has generated a substantial increase in the volume of business trips between Kazakhstan and Romania; Kazakh officials and business people are discovering Romania with amazement, a country that was not promoted until last year in Kazakhstan, but which they then want to revisit as tourists," added Corina Martin who is also president of the RESTO Constanta Employers' Association.Last but not least, the hospitality association representative argued that promoting on a niche market can represent a real opportunity to attract Kazakh tourists to holiday destinations and cities in Romania.Alongside representatives of the mentioned destinations, the Romanian stand also accommodates the Employers Federation of Romania's Hospitality Industry (FPIOR) and RESTO Constanta, as well as a well-known hotel complex in Bucovina and the tour operator Mistral Tours.The Kazakhstan Tourism Fair brings together exhibitors from many countries, including Georgia, the U.A.E., the Maldives, Malaysia, Thailand, Azerbaijan etc., but also an impressive series of hotels and resorts that come to promote themselves at this fair.

World Bank forecasts economic growth of 1.3% for Romania in 2025

Fri, 16 May 2025 00:00:00 +0300

The World Bank estimates a slowing down of growth in the developing economies in Europe and Central Asia (ECA) at 2.5% in 2025 – 2026, for Romania being 1.2% in 2025 and 1.9% in 2026 according to the ECA Report Economic Update for the region, published on Wednesday.Economic growth in developing economies in the Europe and Central Asia region (ECA) is likely to slow, according to the World Bank's ECA Economic Update report for the region, published today Wednesday. Growth in the ECA region is now estimated at 2.5% for the period 2025-26, due to weaker external demand and slowdown in Russia, the WB said in a statement. According to the quoted source, in 2024 growth in the region was established at 3.6% supported by private consumption and robust growth of real salaries, higher remittances and growth in consumer credit, all of which offset weaker external demand due to low growth in the European Union.Higher growth of prices in food and services led to higher inflation which reached 5% at the level of February 2025, from 3.6% at half 2024. The recent growth of inflation determined more central banks increase the monetary policy rates or delay supplementary relaxation.'Although countries in the Europe and Central Asia region managed to maintain steady growth last year, global uncertainty, geo-economic fragmentation and weak expansion among key trading partners are making it more difficult to sustain this growth. To achieve stronger economic expansion in the longer term, it is essential that countries in the region accelerate domestic structural reforms that favour a dynamic and innovative private sector, entrepreneurship and technology adoption,' said Antonella Bassani, World Bank Vice President for Europe and Central Asia, quoted in the statement. Central Asia will probably remain the sub-region with the quickest growth this year and next year, although growth is estimated to be reduced at 4.7% in 2025 – 2026. Slowing down is due to weaker expansion of the oil sector in Kazakhstan, as well as due to the reduction of exports and normalization of remittances flows, says the WB report.In Southern Caucasus, growth is estimated at 3.5% on average, lin 2025 – 2026 as the indirect effects of trade intermediation, labour and capital flows continue to decline.Uncertainty of the trade policy, increased trade barriers and indirect effects of supply chains in the euro zone are estimated to temper recoveries in other areas of the region. Growth in Western Balkans is expected to be moderated at 3.4% in 2025 – 2026 while Central Europe should be improved only slightly at 2.7%.In Russia, growth is projected to fall to 1.3 per cent in 2025-2026. In Turkey, growth is likely to improve modestly to 3.3 per cent over this period, although it will remain below its long-term trend, owing to continued weak external demand and continued economic recovery. Growth in Ukraine is likely to fall to 2% in 2025.In an analysis dedicated to acceleration of growth in the current challenging global context, the report mentions the importance of dynamic private sector. Countries should invest more in innovation, choose reforms to support young companies, deepen financial markets and increase investment in research and development (R&D) while continuing to focus on integrating global technology, expertise and capital. In order for countries with middle incomes in the region to reach the status of countries with high income, their economies must become more dynamic. The countries which reached successfully the status of economies with high income did that through entrepreneurship dynamism and innovation and had to keep growth through technology capitalization, expertise and capital to increase productivity within companies, says the quoted source.'Business innovation and experimentation are essential for productivity growth and a prerequisite for achieving and maintaining high-income economy status. Middle-income countries in the region can achieve high-income status if firms grow, innovate and compete. While each country needs its own approach to restart growth, incentivising innovation and facilitating business dynamism are crucial,' said Ivailo Izvorski, the World Bank's chief economist for Europe and Central Asia. The report shows the need to invest in young and innovative companies rather than in the entire small and medium-sized enterprise (SME) sector, as these companies create jobs. This approach should be supported by improving access to finance, especially long-term and venture capital. The region is underfunded as venture capital and equity finance remain underdeveloped. 'Stimulating competition is essential to allow dynamic firms to emerge. The region has too many small, low-productivity small businesses and few large companies outside state-owned enterprises that often dominate markets and stifle entrepreneurial dynamism. Policies that encourage business innovation and technology adoption, such as larger and better targeted R&D incentives, are also needed to help firms become more productive and innovative. Many firms in the region currently rely on reallocating resources and operate as production facilities for foreign companies, rather than developing their own technologies,' the statement added. Finally, investment in human capital is essential for drawing and keeping highly-qualified employees and entrepreneurs as well as for the creation of opportunities for improvement of skills through professional training.

Chamber of Deputies adopts draft law ratifying agreement with Moldova

Fri, 16 May 2025 00:00:00 +0300

The Chamber of Deputies on Wednesday adopted a draft law ratifying the Agreement between the Governments of Romania and the Republic of Moldova regarding the coordinated control on Romanian territory at the Galati (Romania) - Giurgiulesti (Republic of Moldova) road state border crossing point, on the way into our country.There were 293 votes cast in favour of the draft, 2 against and one abstention.The agreement was signed on November 20, 2024, in Bucharest.The normative act aims to facilitate the transit of persons and speed up the movement of goods, as part of the process of integrating the Republic of Moldova into the European Union and also as part of the support provided to the Ukrainian economy, seriously affected by the war, in cooperation with the European Union and the United States of America, the Defence Committee report states.According to the same source, the Agreement provides for the implementation of coordinated control at the Galati - Giurgiulesti crossing point, establishing the bilateral legal framework, the way of organizing the control, the responsibilities of the staff involved, the protection of personal data, the implementation procedures.This agreement applies for a period of 12 months starting from the date on which the coordinated control becomes operational. Any extension of the validity of the Agreement for new periods of 12 months is decided by agreement of the parties, based on the joint evaluation of the results of the control system, the extension being carried out through diplomatic channels.The Chamber of Deputies is the first to be notified, and the Senate is the decision-making body in this case.

Piotr Serafin, European Commissioner for Budget, Anti-Fraud and Public Administration, starts today a visit to Romania

Fri, 16 May 2025 00:00:00 +0300

The European Commissioner for Budget, Anti-Fraud and Public Administration, Piotr Serafin, will travel to Bucharest and Oradea, between April 24-25, announces the European Commission Representation.The high-ranking official's visit will focus on improving social inclusion, creating jobs and strengthening local communities with the help of EU funds.The visit will include dialogues with Romanian authorities and stakeholders to better support Romania's economic growth and align the country's priorities with plans for the future EU budget.This visit is part of the pan-European consultations carried out by the European Commission ahead of the presentation of the next long-term EU budget, planned for July this year.According to the agenda announced by the European Commission Representation, on 24 April, Commissioner Serafin will begin his visit to Bucharest, where he will meet with the interim President of Romania, Ilie Bolojan, Prime Minister Marcel Ciolacu, and other ministers responsible for EU funds. They will discuss how the funds provided by the European Union contribute to Romania's development and will analyse Romania's priorities for the future EU budget.He will also meet with Romania's Deputy Prime Minister and Minister of Internal Affairs, Catalin Predoiu, to discuss security, border protection and migration management, with a focus on Romania's essential role in protecting the EU's external borders.Commissioner Serafin will also discuss with Romanian business people and investor groups to get their views on how current EU funding works. This dialogue aims to refine future funding instruments to better support Romania's economy and industry.On April 25, Commissioner Serafin will travel to Oradea, where he will visit important infrastructure projects, such as the County Hospital and Oradea Airport, which illustrate how European funds positively influence regional development.The Commissioner's visit will conclude with a tour of the historic Citadel of Oradea and the mobility corridor. Benefiting from significant EU investment, this site illustrates the Union's commitment to preserving cultural landmarks and boosting regional tourism.Commissioner Serafin's visit highlights the European Union's continued commitment to promoting economic growth, social unity and community strengthening in Romania.At the end of the visit to the Oradea Citadel, a press conference will be organized inside the Citadel. (Photo:https://commission.europa.eu/)

CSAT convened on Wednesday, April 30

Fri, 16 May 2025 00:00:00 +0300

Interim President Ilie Bolojan convened the Supreme Council for National Defense (CSAT) on Wednesday, April 30, starting at 2:00 p.m., the Presidential Administration informs. Interim President Ilie Bolojan convened the Supreme National Defense Council (CSAT) on Wednesday, April 30, starting at 2:00 p.m., the Presidential Administration informs. The agenda of the meeting includes Romania’s participation in the European Response Plan – Readiness 2030, the draft law on Romania’s national defense and the National Plan on military mobility. The CSAT meeting will also discuss the draft law on some measures necessary for the implementation of national security projects in the field of hydropower and the national strategic vision in the space field. “The Council meeting will also analyze other current issues in the field of national security,” the Presidential Administration’s press release states. The last meeting of the CSAT took place on March 28, the first meeting of the Council since Ilie Bolojan has been the interim president of Romania. On that occasion, the CSAT decided to continue providing military support to Ukraine. Also, at the meeting there were discussions about strengthening the defense on NATO’s Eastern Flank, and a phased increase in the percentage of GDP allocated to defense spending was agreed upon, the Presidential Administration informs. Romania will buy a new military ship, a light corvette.

Romanian M&A market evolution during the first quarter of 2025

Fri, 16 May 2025 00:00:00 +0300

During the first three months of 2025, the Romanian mergers and acquisitions (M&A) market recorded 51 transactions, with an estimated combined value of USD 1.0bn reflecting a 25% decline in the number of deals (68) and 29% fall in the value (USD 1.4bn) of M&A compared to Q4 2024, EY report says. The lower level of deal-making was largely due to a slow start to the year with January 2025 recording the lowest number of deals (10) since September 2023 (12), while activity was more in line with the 2024 average monthly run-rate in February and March 2025. The lower estimated value of Romanian M&A in Q1 2025 was impacted by the record share of transactions with undisclosed deal value (84%). The largest disclosed deal of Q1 2025 was the acquisition of P3 Group’s logistics portfolio by Netherlands-based CTP, Europe’s largest publicly listed developer of industrial and logistics properties, for USD 280m. The buyer registered another significant transaction in the previous year, when it acquired 5 light-industrial parks from Globalworth Real Estate Investments’ wholly-owned logistics portfolio, for approximately USD 184m. The second-largest disclosed transaction by value during this period was Solida Capital’s acquisition of the Victoria Center Office Building from Macquarie Group for USD 31.7m, where EY provided financial and tax due diligence services to the buyer. While strategic investors remained the dominant players in Romanian M&A during Q1 2025, accounting for 80% of transactions, financial sponsors accounted for a record 16% share of deal volume, driven mainly by foreign private equity funds investing across numerous sectors, including healthcare, renewables, real estate and oil & gas. Time will tell if Q1 2025 marked the start of a structural rebalancing of the Romanian M&A in line with other CEE markets, where financial investors account for closer to 20-25% of deals. Domestic deal-making fell from 51% of announced deals in Q4 2024 to 43% in Q1 2025, mainly due to an increase in foreign acquisitions by Romanian investors. The share of inbound deals (43%) remained fairly stable quarter-on-quarter (QoQ), with the United States retaining first place with four deals, followed by the United Kingdom with three, which marked a return to its long-term position as the second most active investor in Romania following a two-year lull in activity post-Brexit. Germany and Poland jointly occupied third place with two deals each. Romanian deal-makers recorded five outbound transactions (10% share) during this quarter, reenforcing the confidence of domestic investors for overseas targets seen during 2024. Three outbound transactions stood out in Q1 2025: Morphosis Capital’s minority investment in Endurosat, a leading European provider of high-end satellites and space services, where EY provided financial and tax due diligence services to Morphosis; BitDefender’s acquisition of BitShield Malaysia and Med Life’s acquisition of Moldova-based All Clinic. The Real Estate, Hospitality & Construction sector ranked first in volume in the first quarter with nine deals, followed by the Health, Technology and Advanced Manufacturing Sectors with six deals each. The Consumer Products & Retail and Power & Utilities sectors followed with five transactions each. The Mobility sector recorded four transactions, including the acquisition of several luxury automotive dealership (Ferrari, Aston Martin, Dallara and Morgan) businesses by Canada’s Holland Automotive Group, where EY provided vendor due diligence services to the seller. While the much-anticipated sale of Regina Maria Group by MidEuropa was not announced until 1 April, it would be remise not to acknowledge this hugely significant inbound transaction in the Romanian healthcare sector. Although the official press-releases did not disclose the deal value, various news sources estimated that CVC backed Mehilainen of Finland agreed to pay over USD 1.4bn, which would make this one of the largest deals ever recorded in Romanian M&A. This transaction highlights the confidence of foreign investors in Romania as an investment destination. Notwithstanding that Q1 2025 recorded a QoQ decline in both the volume and value of Romanian M&A, it also saw the highest share of financial sponsor backed transactions on record, stable levels of inbound activity, and the growing confidence of Romanian deal-makers to invest overseas.

2024 for the Romanian fulfillment provider Helpship as part of euShipments Group

Fri, 16 May 2025 00:00:00 +0300

Since euShipments.com acquired a majority stake in Helpship in May 2023, the Romanian company has invested in infrastructure to enhance operations in the region. In 2024, Helpship - as part of the euShipments Group, took a major leap forward, expanding its logistics capabilities to meet the growing demands of eCommerce in Central and Eastern Europe. euShipments.com Group, CEE’s leading consortium in the field of cross-border deliveries and fulfillment services for online stores, has invested nearly EUR 1.3 million in expanding and automating its logistics network. Helpship spans a 20,000 sq.m. warehouse space and 1,200 sq.m. offices at CTPark Oradea. eCommerce businesses can now benefit from additional 13-meter-high pallet systems that maximize vertical storage capacity to 15,000 pallet spaces. New automated technology for both stretch foil and flyer bags packing that processes up to 1,000 shipments per hour per machine complements manual fulfillment process. Additionally, automated sorting machines with capacity of 12,500 parcels per hour will be installed later this year. These enhancements enable Romanian eCommerce businesses to scale operations efficiently while maintaining rapid order fulfillment. "With these investments, Helpship - as part of our logistics group, is boosting the capabilities and logistics of the Oradea facility, making it even easier for Romanian businesses to expand across the European Union” said Svetlozar Dimitrov, CEO of euShipments.com. “The warehouse’s strategic location gives online merchants the logistics advantage they need to get the best of the cross-border eCommerce” he added. The Helpship’s fulfillment and cross-docking center in the town of Oradea near the Romanian-Hungarian border now sees reduced order processing and transit times for shipments headed to over 27 European countries via 800+ delivery methods. euShipments Logistics Group stands out with a comprehensive end-to-end logistics network. It offers a first-mile collection of ready-packed and labeled parcel volumes, cross-border deliveries, and an extensive network of 7 own e-fulfillment and cross-border locations in Europe. Powered by a robust IT infrastructure and a dedicated team of over 300 eCommerce specialists, the group provides seamless eCommerce returns management, as well as Cash-on-delivery solution for 17 EU markets. “Our mission is to provide eCommerce businesses with the most efficient and scalable logistics solutions, enabling them to grow across Europe” said Stefan Popa, CEO of euShipments.com. “Thanks to the investment and the strategic partnership with euShipments Group, we further enhance our fulfillment and last-mile delivery efficiency. We provide next-day delivery to both Romania and Hungary, and 2 business days for deliveries to another 7 CEE markets. Furthermore, with seamless Cash-on-delivery collection and payments for 17 EU countries we are reliable partner for all online merchants with vision for international expansion”. Helpship has been part of the euShipments.com logistics network for almost 2 years. Through euShipments.com’s partnerships with more than 60 local last-mile courier companies, Helpship clients gain a broader range of cost-effective and fast delivery options tailored to their needs. The logistics group continues to execute its ambitious growth strategy, with planned investments in additional automation to enhance scalability and reliability - critical factors in today's competitive eCommerce landscape. About euShipments.com The company provides premium eCommerce cross-border delivery and fulfillment services. It delivers shipments to more than 27 European countries through partnerships with over 60 courier companies and operates 15 fulfillment centers. In three consecutive years - 2023 to 2025 - euShipments.com was recognized by the Financial Times as one of the fastest growing companies in Europe and ranked in a leading position among Bulgarian representatives in the FT1000 list. About Helpship Helpship is a leading Romanian eCommerce fulfillment company, part of the euShipments.com logistics group since May 2023. The combination of Helpship's local expertise and euShipments.com's international solutions enables fast and reliable deliveries, cross-border trade and scalable services for online merchants.

Competition Council voices concerns over Vodafone, Digi's intention to take over Telekom

Fri, 16 May 2025 00:00:00 +0300

The Competition Council has several concerns regarding the transactions through which mobile company Vodafone Romania S.A. intends to take over Telekom Romania Mobile Communications S.A., and Digi Romania S.A. certain assets of the same company."It is essential that, as a result of these transactions, the quality of services to consumers does not decrease, but on the contrary, improves. We want to make sure that networks will operate at high standards, that coverage and speed of services will remain competitive, and that infrastructure investment plans will continue. So that users benefit from better services in the long term. We assess all the effects on competition and collaborate with the National Communications Regulatory Agency (ANCOM), but we also want to find out the points of view of those affected," Chairman off the Competition Council Bogdan Chiritoiu, said in a press statement release by the council.According to the competition authority, the concerns regard, among other things, the price conditions and the impact on the quality of certain services offered to customers. Thus, the two transactions could negatively affect the quality of mobile internet services, in terms of average data download speed, and there is concern that the spectrum resources that the two companies would have may not be fully utilised.Also, the Competition Council considers that Orange Romania S.A.'s access to colocation services on Telekom Romania Mobile Communications S.A.'s mobile telecommunications sites could be affected and, in addition, the transactions would have a negative impact on the wholesale market of access and call origination services in mobile networks in Romania, following the possible disappearance of Telekom as a provider of such services."This aspect, related to the lack of a viable alternative from Digi, could lead to worsening access offers for mobile virtual network operators (MVNOs). Another concern regards the fact that the availability of pre-paid mobile telephone services for Telekom customers taken over by Digi Romania could be affected: there is a risk that it will offer these services for a very short period, at lower quality and price, and then the company will give up providing them."The transaction by which Vodafone Romania S.A. intends to take over Telekom Romania Mobile Communications S.A. could affect the pricing conditions that will benefit the post-paid customers of Telekom who will be taken over and the pricing conditions of the machine-to-machine (M2M) services provided by Telekom Mobile Romania Communications S.A. Additionally, the commercial conditions under which Telekom will provide to Veridian could also be affected Systems SRL hosting services under the concluded contract.The two companies involved in these operations may submit to the Council proposals for commitments aimed at removing the identified concerns regarding the impact on the competitive environment, and those will be evaluated and submitted for public consultation on the institution's website.Digi intends to take over some of Telekom's assets such as the rights to use some radio frequencies, part of towers, their infrastructure and equipment, as well as the entire activity of providing prepaid mobile phone services.Vodafone Romania S.A. wants to take over Telekom Romania Mobile Communications S.A.

Confidence index remains stable, but managers are more cautious

Fri, 16 May 2025 00:00:00 +0300

Romanian entrepreneurs find themselves in a fragile balance between optimism and concern. They feel the pressure of an increasingly unstable global context but do not succumb to panic; rather, they rely on past experiences and adaptability. The 12th edition of the CONFIDEX study, supported by private equity funds ROCA, Agista, and CITR, the leader in insolvency and restructuring in Romania, conducted on a sample of over 500 top managers, confirms this mixed sentiment: 64% of managers expect the global economy to worsen (up from 55% last year), yet 42% believe their own company’s situation will remain stable, while 26% anticipate improvement. Caution is palpable, but not paralyzing. In Romania, the business environment seems to have learned to operate amid uncertainty, moving forward even when clarity is lacking. The CONFIDEX index for H1 2025 is 51.3 – reflecting a near-identical level to the end of last year (52), indicating a state of waiting while signaling that Romanian businesses are still “holding the line” in a complicated landscape. According to the CONFIDEX H1 2025 study, companies in the services sector emerge as the most optimistic, with a confidence index of 52.7, followed closely by IT (52.9). Conversely, the agricultural sector takes a more cautious stance (index of 45.7), amid a challenging situation overall. „Romanian entrepreneurs demonstrate strength and adaptability. For the third consecutive semester, confidence in the economy remains stable—a sign that the business environment has learned the lessons of recent years. CONFIDEX also points to a clear direction: we need an environment that fosters growth and attracts capital to areas that can make a difference. Although the global context is becoming increasingly unstable, Romanian companies seem to have developed the necessary antibodies to forge ahead, even amid turbulence. The traditional approach is no longer viable. Nonetheless, it is encouraging that more and more Romanian entrepreneurs wish to capitalize on market potential, especially if the investment ecosystem supports their initiatives. Behind this resilience lies a clearer vision: to build sustainable businesses that not only respond to the present but also shape Romania’s economic future,” said Andrei Cionca, co-founder of private equity funds ROCA and Agista, and initiator of the CONFIDEX study. With an investor confidence rating of 81%, managers and entrepreneurs express a growing need for a pronounced role of investors in the economy. Consequently, 32% of managers indicate they require financial support from investors, who are perceived as valuable partners for the financial stability of companies and for developing business strategies that navigate current challenges and scale operations. Managers acknowledge that investors significantly contribute to the financial stability of the companies they invest in, with 72% of respondents recognizing this contribution. „Private investors play a key role in the development of the Romanian economy, especially now, as challenges mount. Entrepreneurs understand that a good investor means more than capital—it also entails vision, experience, and partnership. Their support can make the difference between stagnation and growth. However, it is crucial to approach this relationship with caution. The myth that investors seek only quick profits persists, and this perception creates a barrier. Therefore, partnerships based on trust and common goals are essential for healthy, sustainable growth,” explained Andrei Cionca. The results of the 12th edition of the CONFIDEX study indicate a general trend of caution regarding the current economic landscape, marked by uncertainties and risks. The majority of managers (57%) predict an intensification of inflation, while 39% expect Romania’s GDP to decline in the coming months. These projections are exacerbated by expectations of rising unemployment rates (49% of respondents) and a depreciation of the Romanian Leu against the Euro (54% of respondents). Regarding perceptions of their own business developments, 41% of managers report that their company’s situation has deteriorated over the past six months, with half of them believing that conditions will worsen in the short term. Simultaneously, perceptions of macroeconomic developments have worsened in the last six months, with 79% of managers feeling a decline in the global economy and 72% in the European economy. Managers are particularly attentive to operational costs, with 73% of respondents anticipating an increase in production and operating expenses over the next six months, which may influence their pricing strategies. Furthermore, in the upcoming period, managers are focusing on essential aspects for securing and developing their businesses. Priorities identified in the 12th edition of the CONFIDEX study include improving customer relationships (29%) and increasing sales (47%), along with diversifying investments. Product diversification continues to be perceived as a primary opportunity, with 23% of managers highlighting this aspect. This opportunity manifests across various sectors, including industry, construction, trade/FMCG, and energy. The list of opportunities is rounded out by easier access to international markets (15%) and digitalization/technologization (13%). Although these aspects are primarily associated with the IT sector, all sectors identify significant potential in increasing productivity through automation. Other relevant opportunities highlighted by the study include increased investments (12%) and attracting new customers (11%), both showing a slight increase compared to H2 2024. Additionally, there is a positive shift in perceptions regarding the potential for stimulating market demand, with approximately 10% of companies believing that reducing uncertainties could generate new development opportunities.

BNR official : The picture of the whole 2025 belongs to a large spectrum of uncertainties and risks, economic and political

Fri, 16 May 2025 00:00:00 +0300

The picture of 2025 belongs to a large spectrum of uncertainties and risks, economic and political, domestic and foreign and for Romania, the key challenges are those connected to the consolidation of the public finances and financial sustainability, stated on Friday the vice-governor of the National Bank of Romania, Cosmin Marinescu at the third edition of teh Financial Education Forum. ' The picture of 2025 belongs to a large spectrum of uncertainties and risks, economic and political, domestic and foreign. For Romania, the key challenges stay those connected to consolidation of public finances and financial sustainability especially after the slippage of the budgetary deficit of 2024. Even more burdening are the foreign deficits which are growing, but which must be corrected profoundly through healthy policies and through competitiveness. Romania needs to regain and consolidate the trust of the investors. From the perspective of the National Bank of Romania, as political decision-maker and regulation authority, it is essential to be true to the commitments taken, those regarding the necessary policies and the economic reforms, the use of available European funds and of course, the implementation of the projects for strategic development' said Cosmin Marinescu. He also mentioned that the essential objective of financial stability may be met in a sustainable way but only by fair share of the efforts for discipline and adjustment. ' The geopolitical tensions still ahve a significant role, given the conflicts in Ukraine and in other parts of the world. At present, a critical source of risks has become the war of commercial tariffs. The tarifss recently announced by the US have troubled the world economy, and the answer of the partner states, probalby justified, was expected to be a substantial one. Under these conditions we ask ourselves, as regards the principles of free commerce and work division, principles validated scientifically along the whole history of economic thinking, how are we going to regain, if possible the economic common sense or the freedom of commerce,in essence, as obligatory factors for business and prosperity.Obviously, the answer cannot forget the honest attachment of the policy-makers and the public for economic education' added the BCR governor. In his turn, the chairman of the Authority for Financial Supervision (ASF), Alexandru Petrescu stated that we live in a period where the financial education is not longer considered as luxury, but an unseen infrastructure, foundation for the financial markets. 'If the physical infrastructure of an economy includes roads, bridges and highways, when it comes to virtual infrastructure, if you allow this way of speaking, of the financial markets is represented by education, by knowledge and by the understanding of the economic mechanisms and concepts.Without these, access to financial tools becomes a lottery, and participation on the market is a matter of luck. Traditionally, financial education has been perceived as a set of knowledge for investors and for those who access financial services. Today, we have to see it differently. Financial education is a matter of trust on the financial markets. Each informed financial decision, adds value to the system, increases transparency and reduces volatility. Trust cannot be imposed through regulations, it is built through education' Alexadru Petrescu said. At the same time, the executive chairman of the Romanian Association for Banks (ARB), Florin Danescu mentioned that the level of correlation between financial intermediation and individual welfare measured as gross domestic product per capita is 0.8 out of 1, an extremely strong correlation. 'I know it sounds scientific, it is hard to say to people, but how could I teach them about this priority? In my youth, I knew if I was better than the others that I would be better situated as it happened.So, it was a matter of competitionand it was ok, as I was better than the others. Today, we cannot afford this luxury. The way information gets into our lives and makes us take wrong decisions, have wrong perceptions , judge by hate, negative information, adverse perception, the education has become even more important, more important than ever. As the discrepancy between the educated ones and those, I am sorry to say it, the uneducated ones becomes more and more important as the discrepancy between the rich and the poor. And this overlapping of discrepancies may lead in the future, not a very far away one, to explosions or unwanted things which today we see but hardly understand. As a conclusion, this is the importance of financial education, specifically financial education in general for a country which is happy, or our people, our Romanians who are happy that we have come to constant development, that we had growth rythms among the highest in the Union, that we reached the European average and even surpassed it at the level of GDP per capita, that we are at the level of Poland and Estonia, that there are countries we left behind, Hungary and so on, a number of six countries' the executive chairman of the Romanian Association for Banks’, Florin Danescu said.

Gold price reaches new historic level – 480.8399 lei/gram

Fri, 16 May 2025 00:00:00 +0300

A gram of gold went up on Tuesday by 13.5413 lei (2.89%), reaching a quotation of 480.8399 lei, from 467.2986 lei, as announced by the National Bank of Romania (BNR), a new record value. The national currency depreciated insignificantly against the euro, which was calculated by BNR at 4.9774 lei, on the rise by 0.01 bani against the previous quotation of 4.9773 lei. The leu won ground against the US dollar, which was quoted at 4.3291 lei, on the drop by 4.65 bani (-1.06%), compared to Thursday, when it was 4.3756 lei. The national currency appreciated against the Swiss franc, calculated by BNR at 5.3406 lei, on the drop by 1.48 bani (-0.27%), against 5.3554 lei, the previous quotation.

IMF cuts Romania's 2025 growth forecast to 1.6 pct

Fri, 16 May 2025 00:00:00 +0300

The latest International Monetary Fund (IMF)’s says that Romania will feel the effects of this global slowdown, like the rest of the world. After a GDP growth of 0.9% last year, Romania’s economy is now expected to grow by only 1.6% in 2025, with a projected acceleration to 2.8% in 2026. This marks a sharp downgrade from the IMF’s previous forecast, which projected a 3.3% growth rate for Romania in 2025. As for average inflation this year, the report estimates it at 4.6%, a notable increase from the 3.6% forecast published in October. On the global level, the IMF has revised its global economic forecast down to just 2.8% growth this year, down from 3.3% in January. It says all major economies will be hit, including the US. The US economy, for example, is expected to grow by just 1.8% this year, down from a previous estimate of 2.7%. The UK economy will also slow down, from 1.6% to 1.1%, but it will still remain the strongest economy in Europe’s G7 in 2025, the IMF said. The IMF also revised up its inflation expectations for the US, UK and Canada to 2.5%, up 0.4% from its January forecast. “Growth in the Eurozone, which is subject to relatively lower effective tariffs, was revised down by 0.2 percentage points to 0.8%. In both the Eurozone and China, stronger fiscal stimulus will provide some support this year and next,” the IMF pointed out. The Fund also warned that despite a recent “pause” announced by Trump – a 90-day suspension of tariffs against other countries – the current level of trade tariffs is the highest in 100 years. Due to uncertainty, many companies around the world have already started to reduce investment and spending, and banks are more cautious about providing loans to companies. The IMF argues that all these cause a “global negative shock”, which will lead to less demand and economic activity around the world. Developing countries are among the most exposed, especially as they face tighter international financial conditions and cuts in foreign aid. For example, the UK has cut its foreign aid budget to increase military spending, and Trump is seeking to dismantle the US foreign aid agency, USAID. The IMF is calling for coordinated international action to reduce trade tensions, restructure the debts of poor countries and address global challenges. Meanwhile, US stock markets have started to fall again, and the IMF warns that large fluctuations in financial markets are expected, especially in terms of exchange rates – which could be difficult for weaker economies to manage. In fact, the US dollar has reached its lowest level in the last three years, in the context of Trump increasingly criticizing the head of the US Central Bank, Jerome Powell, accusing him of acting too slowly on interest rates.

EP President Roberta Metsola, laureate of Timisoara Award for European Values

Fri, 16 May 2025 00:00:00 +0300

The President of the European Parliament, Roberta Metsola, is the laureate of the Timisoara Award for European Values, which will be presented to Her Excellency at a ceremony to be held on May 22.According to a press release issued on Tuesday by Timisoara City Hall, the award was granted by a jury made up of leading personalities of the Romanian professional body in various fields."In designating Her Excellency, the jury appreciates that through her strong leadership and clear vision of a united and resilient Europe, she has demonstrated that politics can be an instrument of progress and hope. At a time of major challenges for Europe, Roberta Metsola has been instrumental in mobilizing European support for Ukraine, promoting concrete humanitarian and military assistance measures, as well as supporting the European integration of the Republic of Moldova and Ukraine. The jury is impressed by Roberta Metsola's firm position as a reliable ally of Romania in its efforts to join the Schengen Area, constantly reaffirming that our country's place is alongside the other member states in this area of free movement," reads the press release.Mayor of Timisoara Dominic Fritz, who is the initiator of the award and a member of the jury, said in the press release that the distinction stands for "an acknowledgement of Roberta Metsola's firm position as a defender and promoter of European values"."Roberta Metsola was at the forefront of those who mobilized European support when Russia invaded Ukraine. She is part of the young generation of European politicians who believe in the European construction and in the values that define it and who rebuilds, day by day, people's trust in democracy and institutions. We look forward to seeing her in Timisoara to celebrate Europe together," said Dominic Fritz.The Timisoara Award for European Values was established "to honour internationally recognized personalities who, with determination, courage and creativity, promote or defend European values inside and outside the European Union".The first laureate was the President of the Republic of Moldova, Maia Sandu, who was present in Timisoara last year.The members of the jury are: Iulia Motoc - judge of the International Criminal Court, Cristian Macelaru - music director of the Orchestre National de France, Simona Miculescu - ambassador, president of UNESCO General Conference, Anca Miruna Lazarescu - director and screenwriter, Adriana Babeti - writer and literary critic, Dominic Fritz - mayor of Timisoara. (Photo:https://www.timisoara-award.eu/en/timisoara-award-for-european-values-2025-edition/)

Acting President Ilie Bolojan to attend funeral of Pope Francis at the Vatican

Fri, 16 May 2025 00:00:00 +0300

Acting President Ilie Bolojan will attend the funeral of Pope Francis, the Presidential Administration said on Tuesday. In recognition of his global impact and historic ties to the country, the Romanian Government will declare Saturday, April 26, 2025, a national day of mourning, coinciding with the pontiff’s funeral at the Vatican. The decision will be formalized in a government resolution, according to official sources.The Pontiff died on Monday, the second day of Easter, following a stroke. The Vatican has announced that Pope Francis’ funeral will take place on Saturday, April 26, at 10:00 local time (11:00, Romanian time), writes the BBC. Also, US President Donald Trump and First Lady Melania Trump will travel to Rome to attend the funeral of Pope Francis, according to statements made by the president himself on Monday, EFE reports. The leaders of Paris and Kiev have also announced their intention to attend the funeral. Emmanuel Macron and Volodymyr Zelensky announced their intention to attend the funeral of Pope Francis While in the Reunion Islands, the French head of state said that he would attend the funeral of Pope Francis. Pope Francis was a symbol of humility, compassion and tireless commitment to peace and justice, interim President Ilie Bolojan said on Monday.'We learned with deep sadness about the passing of His Holiness Pope Francis. In these moments of mourning and grief, I convey my sincere condolences to the Catholic faithful in Romania and around the world, as well as to all those for whom Pope Francis was a spiritual beacon and a source of hope. He was a symbol of humility, compassion and tireless commitment to peace and justice,' Bolojan wrote on Facebook.He noted that Pope Francis was also 'a close friend of the Romanian people, whom he cherished for the depth of their faith and spirit'. Pope Francis visited predominantly Orthodox Romania in 2019. Stopping in the northeastern city of Iasi, the pontiff called Romania “our home”. The 2019 visit to Romania was “a providential meeting of the Sovereign Pontiff with the Romanian people, a moment that allowed people to get to know him better, and for His Holiness to express appreciation for our people, including the raising of the altars of the united bishops, martyrs and confessors of the faith under the oppression of the communist regime,” Romania’s Ambassador to the Vatican, George Bologan told Universul.net in an interview this year.

Agriculture: Fruit and vegetable producers calling for gov't support after crops affected by frost

Fri, 16 May 2025 00:00:00 +0300

Fruit and vegetable producers are calling for government support after horticultural crops were "severely compromised" by two episodes of frost, according to a press release from the "Fruleg-Ro" Association of Agricultural Producer Groups and Organisations.According to the statement, without such support, a wave of bankruptcies is expected in the fruit-growing sector, accompanied by increased unemployment due to layoffs of workers in this branch of agriculture. The association's representatives say that fruit and vegetable producers faced two severe frost events - one in the last ten days of February, and another between April 6 and 11 - which "severely compromised horticultural crops."The public appeal was addressed to the Romanian Government, the Ministry of Agriculture and Rural Development (MADR), and the Presidential Administration, in the context of "an agricultural crisis with a direct, major, and long-term impact on Romania's food and economic security."Fruleg representatives proposed several concrete measures, such as: Compensation for affected producers, proportional to actual losses; Easier access to subsidised-interest loans and government-backed guarantees; Tax measures adapted to the disaster situation, including deferrals or exemptions; Application of Law 170/2023, which promises state aid for fruit, vegetable, and potato producers. Additionally, the association is requesting the introduction of parametric insurance into the guidelines for Sub-measure 17.1, based on the European model, to reflect actual weather phenomena rather than just calendar-based data, as well as the urgent access to EU agricultural reserve funds.Fruleg representatives claim that this is the first time so many species, from across the entire country, have been affected simultaneously.According to the association, the proposed measures are aimed at preserving a key sector of the national economy.According to the quoted source, it is evident that domestic fruit production will reach a historic low this year, forcing processors to turn to competing markets at much higher costs.The "Fruleg-Ro" Association brings together the 50 largest fruit and vegetable producer organisations and cooperatives from across the country, which cultivate the vast majority of areas organized into industrial-scale structures.

Tourism : Dino Parc Rasnov, winner of “Destinatia Anului 2025” in the “Fun and Adventure” category

Fri, 16 May 2025 00:00:00 +0300

Dino Parc Rasnov, the largest dinosaur park in Southeastern Europe, adds another prestigious trophy to its collection: the award “Destinatia Anului 2025” in the “Fun and Adventure” category. This distinction recognizes the park’s remarkable contribution and lasting impact on Romanian tourism, further strengthening its status as a leading destination for outdoor family experiences. Since its opening in 2015, Dino Parc Rasnov has quickly become one of the most popular tourist attractions in Romania. This latest recognition adds to an already impressive list of achievements: Destinatia Anului 2023 in the same category, Marele Premiu al Telespectatorilor from the 2023 edition of the competition, 3rd place among the best amusement parks in Europe according to the 2024 ranking by europeanbestdestinations.com, and the Tripadvisor Travelers’ Choice Award, received two years in a row. (Photo:https://www.facebook.com/dinoparcrasnov/?locale=ro_RO) “It’s been a year full of challenges, which makes this award even more valuable for our team. We are honored to continue being a top destination for families looking for adventure and quality time in nature. Congratulations to the organizers of this competition, which manages to bring us inspiration, motivation, and adrenaline every year. Thank you to everyone who voted for us – every single vote drives us to bring new and exciting attractions from the fascinating world of dinosaurs, year after year. After all, one thing is clear: family outings are not going extinct,” said Adrian Apostu, General Manager of Dino Parc Rasnov. The distinction was awarded following a complex and transparent selection process. The evaluation combined public voting, with hundreds of thousands of Romanians casting their votes online, the input of a jury of 100 tourism experts, and the results of a national sociological study measuring brand awareness, attractiveness, and visitor experience. This mixed methodology ensures a representative and fair outcome, reflecting both public perception and objective quality. Located at the base of Rasnov Fortress, the park features over 125 life-sized dinosaurs, accompanied by scientifically accurate information accessible to all age groups. Each exhibit is developed in partnership with prestigious institutions such as the Grigore Antipa National Museum of Natural History, the University of Bucharest, the Romanian Geological Institute, the Székely National Museum, the Brasov County History Museum, and various local and international partners. Dino Parc also stands out for its strong educational mission, offering guided tours, school-friendly activities, and special projects within national educational programs like scoala Altfel and Saptamana Verde.

Trade: Survey:Romanian consumers are looking for food discounts as products are becoming more expensive

Fri, 16 May 2025 00:00:00 +0300

The U.S. trade war with China could affect food prices around the world, even in Europe, and consumers, including Romanians, already accustomed to inflation, are changing their preferences when it comes to food, forcing the industry to change, according to eToro analyst Bogdan Maioreanu.According to him, Romanian buyers are the ones who are most looking to buy produce from local producers and farmers, followed by French, Spanish and Poles."A survey conducted by consulting giant McKinsey in Europe shows that customer preferences are changing this year when it comes to how customers shop. This year, almost half (48%) of European consumers surveyed said they are looking for ways to save money when shopping. The most attentive to the price are the Norwegians, followed by those from Great Britain and, in the same position, the Romanians, the Danes and the Spaniards. However, among all the countries surveyed, Romanians are in first place when it comes to actively searching for discounts, followed by Spaniards and Danes," according to the survey.Romanian consumers dominate the ranking also when it comes to buying high quality or premium products. They are closely followed by the Spaniards. Romanians are also close to the top places when it comes to buying organic products and are willing to pay higher prices for healthier products, but they are below the European average when it comes to buying the store's own brands instead of the well-known brands. Also, Romanian shoppers are well above the European average when it comes to buying food from the cooked food departments inside stores.Buyers' increased attention to prices is justified by the latest data on inflation in Romania, which show that in March food prices increased by 5.1% year-on-year. Topping the price increases were margarine, with almost 13%, fruits and canned fruits, with over 10%. Meat and meat products increased by almost 4% year-on-year.The trade war between the U.S. and China could push Chinese companies to find other ways to cover the demand that U.S. imports can no longer meet. In 2023, China imported nearly USD 1 billion worth of fruits and nuts from the U.S., more than USD 3.4 billion worth of meat, and meat products. Now they could look for other suppliers, and this will put pressure on prices, including in Europe.China was the third largest destination for EU agricultural exports in 2024 (6% of EU exports), after the UK and the US. However, EU exports to China saw the largest reduction, with a decrease of EUR 1.3 billion (9%) from 2023. The main exports that fell were cereals, pork, spirits and liqueurs and dairy products. But the current situation could lead to an increase in demand for agricultural produce in China to replace what cannot currently be bought from the U.S. This is why the reshaping of supply chains around the world could put pressure on some markets and cause prices to rise for several categories of food products, shows the survey.Investors are closely following the situation. According to the latest eToro Retail Investor Beat survey, when it comes to the main external risks they see for their portfolios, 26% of Romanian investors mentioned a global recession, 23% inflation, 18% the state of the Romanian economy and 16% a global conflict. And the current trade war initiated by the Trump administration has all the ingredients to tick off at least some of these concerns.EToro is a trading and investment platform that allows users to invest, share their knowledge, and learn. It was founded in 2007 with the mission of opening up global markets so that all interested parties can trade and invest in a simple and transparent way. Today, eToro is a global community with over 38 million registered users in 75 countries.On the eToro platform, users can own a wide range of traditional and innovative assets and choose how to invest: they can trade directly, invest in a portfolio or copy other investors.

Survey: Romanians prioritise quality and discounts for Easter 2025

Fri, 16 May 2025 00:00:00 +0300

Romanians prioritise quality and discounts for Easter 2025, reveals a study conducted by EY Romania, which reveals consumers' Easter expenses amid high inflation and economic instability.According to EY Romania, the survey highlights the emphasis on quality, bargain prices and savings strategies.Thus, in terms of gifts, 61% of respondents are waiting for discounts to buy Easter gifts, 41% following both online and in-store offers, and 35% focusing on e-commerce.Almost half - 47% - allocate up to RON 400 for Easter gifts, 37% between RON 400 and RON 1,000, and 16% over RON 1,000 lei. Only 26% saved in advance for these expenses.For the Easter meal, 35% plan to spend between RON 300 and RON 500, 26% between RON 500 and RON 1,000, and 17% over RON 1,000. 22% allocate less than RON 300.As against 2024, 45% of the respondents are expecting higher Easter shopping expenses by up to 10 - 20%, while 10% are expecting them to reach 30% higher. 22% anticipate similar or lower expenses.Regarding holidays and free time, only 15% of respondents have purchased plane tickets or tourist packages for Easter or May 1, reflecting economic constraints, and 85% have not planned holidays. For the next six months, 36% intend to allocate between RON 250 and RON 500 per month for entertainment and relaxation, and 38% between RON 50 and RON 250 for sports.Quality (98%) and price (97%) dominate purchasing decisions, followed by store proximity and product provenance. Home delivery, sustainability and brand are less important. For the choice of retailers, price is a priority, followed by proximity and trust in the retailer, the survey shows. For household appliances, reviews are essential, and for clothing, discounts and ease of return matter.To maximise the value of purchases, respondents choose: discounts (61%), discount retailers (55%), cheaper brands of similar quality (47%), loyalty programmes (40%), products from markets and small businesses (37%)."In 2025, Romanians demonstrate a prudent approach in preparing for Easter, with almost all respondents putting quality and price first, while maximising value through discounts and discount merchants. This combination of tradition and economic pragmatism shows adaptability in the face of financial challenges," says Georgiana Iancu, partner, Retail and Consumer Products sector leader, EY Romania.According to the survey, 50% of respondents will continue to buy fresh food, 49% personal care products, 35% processed foods and 31% large appliances, even at higher prices. On the other hand, for non-essential products, such as clothing or luxury items, many opt for cheaper alternatives or reduced purchases.As for going out to restaurants, 45% say they will reduce the frequency of dining out.For the next six months, the financial plans unveiled by Romanians indicate: food - 34% will spend between RON 500 and RON 1,000 per month; personal hygiene - 43% allocate between RON 250 and RON 500 per month; education - 25% allocate between RON 50 and RON 250per month; savings and investments - 25% intend to allocate over RON 2,000 monthly, a sign of prudence.The EY Romania 2025 survey also reveals a more prudent and value-oriented consumer compared with 2024, reflecting heightened economic pressures. While 61% of respondents in 2025 sought discounts for Easter purchases, up from 51% in 2024, gift budgets have shifted towards smaller ranges, with 45% allocating up to RON 400 lei for gifts (as against 27% below RON 400 in 2024). In addition, 68% try to save more in 2025 (up from 62% in 2024), but only 54% achieved their financial goals (down from 60%), indicating greater financial pressure.Quality and price are top priorities in 2025, with price registering a significant increase in importance from the same period in 2024, namely from 80% to 97%. Greater emphasis is also placed on the criteria of proximity and provenance of products."These results reflect how Romanians keep the spirit of Easter, balancing economic challenges with strategic choices for quality, discounts and savings for a safer future," concludes Iancu.The survey was conducted between March and April 2025 on a sample of 304 respondents from urban areas (91%), most of them from Bucharest (57%), Cluj (11%), Iasi (5%) and Ilfov (6%). 77% are women, 50% are university graduates, 49% are postgraduate graduates, and 1% have a secondary education background. Age distribution: 30% between 18-30 years old, 52% between 31-50 years old, 18% over 51 years old. Monthly incomes vary: 37% over RON 15,000, 25% between RON 5,000 and RON10,000, 23% between RON 10,000 and RON 15,000, 15% below RON 5,000.EY a world leading professional services firms globally, with 392,995 employees in more than 700 offices in 150 countries and revenues of approximately USD 51.2 billion in the fiscal year ended June 30, 2024.Operating in Romania since 1992, EY provides, through its more than 1,000 employees in Romania and Moldova, integrated audit, tax, legal, strategy and transaction assistance, consulting services to multinational and local companies.EY Romania has offices in Bucharest, Cluj-Napoca, Timisoara, Iasi and Chisinau (EUR 1= RON 4.97).

Study: Economic and political uncertainty affects how Romanians plan their Easter holidays

Fri, 16 May 2025 00:00:00 +0300

The current economic and political uncertainty is affecting the way in which eight out of ten Romanians plan their Easter holidays, shows a study conducted by Reveal Marketing Research, released on Wednesday.The research aimed to find out how Romanians prepare for the Easter holidays and to what extent their behavior and needs have changed compared to a similar study conducted last year.Thus, 48% of those surveyed noted changes in the way they celebrate Easter in recent years, with economic and political uncertainty affecting the way eight out of ten Romanians plan their Easter holidays.The study shows that the number of people planning to give Easter presents is decreasing, from 67% (2024) to 58% (2025).According to the survey, the most commonly mentioned emotions that the holiday evokes are feelings of peace (17%), happiness and excitement (16%) and well-being (11%).On the other hand, the predominantly negative thoughts do not leave 30% of Romanians, the main feelings being melancholy and sadness (8%), indifference (5%) or fatigue (4%).79% of respondents plan to spend Easter at home with their family. Easter is perceived as a family holiday, and most will spend it again this year with their partner (64%), children (51%) or parents (46%).The custom of fasting during Easter is still practiced by one in two Romanians. Of these, 18% fast only during Holy Week, 18% only on Wednesdays and Fridays, and 12% fast all day.The way Romanians choose to celebrate Easter is changing, with 48% of respondents saying they have seen changes in the way they celebrate Easter in recent years, up 4% from 2024. These changes are particularly felt by people aged 35 to 44 (56%).The main changes mentioned are the transition from a traditional to a more modern approach to celebrating Easter (35%), the desire to celebrate Easter away from the commercial hustle and bustle in a more authentic and profound way (28%) and the adoption of more simplified and eco-friendly Easter celebrations to avoid over-consumption (20%). Compared to last year, there has been a significant increase in the transition from a traditional to a more modern approach, from 22% to 35%.Regarding the meaning of Easter for Romanians, most of them believe that Easter means a balanced combination of traditions and rituals and connection with loved ones (32%). On the other hand, 23% emphasize traditions and customs, while 22% focus more on connection and communication with loved ones.As for traditions, 78% of Romanians plan to attend the Resurrection service, similar to last year.In terms of interpersonal connections and their importance, 67% of respondents mention that there are loved ones in their lives who live out of town with whom they would like to spend Easter.Thus, most will use technology to feel closer to loved ones who are far away, with the majority sending Easter greetings via phone or video calls (60%).The most common measures taken by Romanians for Easter are paying more attention to spending (41%), cutting back on food and gifts (28%) and choosing more affordable vacation options (14%).This year, Easter will be marked by a more financially prudent approach. Although 40% of Romanians say they will allocate a bigger budget than in 2024, this increase reflects inflation adjustment rather than an intention to consume more. At the same time, 39% say they will spend a similar amount as last year, while 21% plan to reduce their budget.The saving trend is also reflected in gift-giving plans. The percentage of those who say they will give Easter presents fell from 67% in 2024 to 58% this year. The most frequent recipients of these gifts remain children (67%), their partner (58%) and parents (39%).As for the estimated budget for Easter holidays, 44% of Romanians expect to spend between 500 and 1500 RON, 37% under 500 RON, and 14% will allocate higher amounts, between 1500 - 3000 RON.The survey was conducted online between April 3-9 on a representative sample of people aged 18+, internet users, from urban and rural areas. The sample size was 1,009 respondents and the maximum sampling error is +/- -3.1% at a 95% confidence level.

Daianu: If we don't considerably reduce the budget deficit, we could lose confidence in the leu

Fri, 16 May 2025 00:00:00 +0300

If Romania does not diminish the budgetary deficit considerably we could lose the trust in the leu, we could see outflows of capital from the country, important pressures towards the depreciation of the national currency, shows in the introduction of the analysis report of the convergence “ Romania – the Euro zone Monitor’ no.`18 of 2025.’ The transatlantic relation in great distress. What will the EU do?’If you consider the impact analysed of the pension recalculation, the budgetary deficit of 2024 surpassed the one of the pandemics year (2020) – when it was 9.2% of GDP! This shows budgetary executions mingled with careless budgeting and considerable slippage, underestimation of fiscal consolidation as a necessity’ says the introduction signed by the academician Daniel Daianu.According to the quoted source, at the end of 2024 the public debt of the country surpassed 54% of GDP and its growth speed Is rapid.'Those who very casually point out that other EU countries have considerably higher public debts are going down the wrong track; Romania is not in the euro area, there is currency risk, and large budget deficits make access to financing more difficult and can induce nervous reactions from the markets. Those who say that other countries also have large budget deficits and we should not be worried are not judging the whole picture. For example, Poland had a budget deficit of 6.6% of GDP in 2024, but also a current account deficit of less than 1% of GDP - which in Romania was over 8% in 2024. Moreover, defence spending in Poland was 4.7% of GDP in 2024. In other words, if defence spending had not increased so much, the budget deficit in the neighbouring state would probably have been below 5% of GDP. Such figures are telling. The precarious state of Romania's public budget, with very low tax revenues (including contributions) (26-27 per cent of GDP, compared to an EU average of over 40 per cent, compared to 34-35 per cent in the countries in the region), is a huge handicap', says Daniel Daianu. The author says that to have a correction of high amplitude when the international environment is more than unfavourable, when you have to allocate considerably more resources for the defence, is an extremely difficult mission.According to the report the fiscal consolidation cannot be done only on the basis of expenses a considerable growth of the fiscal revenues is also necessary.'It bears repeating, fiscal consolidation is also necessary because Romania suffers from the 'twin deficits syndrome' (twin deficits); in addition to a very high budget deficit, there is a very high current account deficit. In 2024, as mentioned above, the latter exceeded 8 per cent of GDP and over 60 per cent of the financing was through borrowed resources. Romania's current account deficit is among the highest (as a percentage of GDP) in the EU and is unique in the region; the Czech Republic, Hungary, Poland, which are countries with which we traditionally compare ourselves, have much lower deficits. The very large budget deficit explains to a large extent the current account deficit. If we do not reduce the budget deficit considerably, we could lose confidence in the leu, we could see capital outflows from the country, there would be great pressure for the national currency to depreciate. The increasingly unfavourable international context complicates the domestic economic situation. It must be realised that the NBR cannot be a factotum, that it cannot ensure Romania's macroeconomic stability on its own', says Daniel Daianu. Similarly, the economist mentions that the new derogation clause put in place (with reference to defence spending) does not exempt Romania from fiscal consolidation in the years to come, as some might think.'It's enough to imagine what public debt would look like after such a timeframe if very large budget deficits were perpetuated. The clause does not change the economic reality. Markets will not accept such behaviour in the management of public finances and will force a correction. Romania allocated just over 2% of GDP to defence last year, with a cash budget deficit of 8.64% of GDP. Romania's target is to bring the deficit below 3% in seven years. Other things unchanged, the macro-economic correction, if defence spending were to be increased (even gradually), would not be about six per cent of GDP, but more than seven per cent of GDP. It is possible that a compromise could be reached in NATO and the minimum target for defence spending as a share of GDP would be between three and four per cent. For Romania, state officials have announced a target of three per cent of GDP over the next two years. We need to have higher tax revenues and to restrain spending as much as possible, to spend as efficiently as possible. There must also be a reform of the State, which should also take the form of stronger institutions and maximise the use of European funds', says Daniel Daianu. He states that the way the absorption of European funds was treated, especially over the last years is difficult to understand; there was no sense of urgency.'We stand to lose many billions of euros from the NRRP. Romania must do everything possible to make up as much of the lost time as possible. The IDB (Romanian Investment and Development Bank) can play a similar role in the Romanian economy to that of the EIB in the EU. The intensive absorption of European funds can cushion the shock of the trade war. The need to increase defence spending could lead to an amendment of the PNRR, which would reduce the pressure on the public budget', says Daniel Daianu. According to the report, the Multilateral Financial Framework (MFF) is likely to allocate fewer resources to Romania in the new exercise. The new MFF will change given the challenges for the EU related to competitiveness and defence/security. Romania has acquired a 'dependency' on EU funds that may boomerang back when these resources will inevitably drastically diminish - after 2026 the NRRP ends and the MFF money will be reduced in the next financial year. The massive decrease in European resources would affect budget execution, public investment, balance of payments and potential GDP. This prospect is a strong argument for macro-economic adjustment to take place within a reasonable timeframe through credible measures. Even if the EC's proposal not to take into account the increase in defence spending in the estimation of budget deficits would prevail, Romania's public budget situation would remain very complicated as it would not change the real situation of the public budget; fiscal consolidation must be achieved. In Romania more can be allocated for defence through citizens’ contribution, the business environment. And for the EU budget this could be taken into consideration. The alternative would be to reduce expenditure in other domains, which would involve decisions of economic and social policy which are very difficult’ says Daniel Daianu.According to the author, it is Romania’s interest and the other European countries that the Union be more cohesive and develop its own capacity for defense (arms industry) and NATO not to become weak. The defence industry in Romania must develop and offset arrangement would support this. But the defense industry of Romania must not be thought outside the actions conjugated at European level (EU). ‘The importance of the EU for Romania is difficult to underestimate, as the Union was born as a peace project – so not only economic reconstruction. A more divided, fragile union would be an omen for European security, we could turn to a dark history of Europe, the inter-wars period. The mention is for the NATO as well’ Daniel Daianu says.

ANCOM: Very large online platforms must mitigate systemic risks on electoral processes

Fri, 16 May 2025 00:00:00 +0300

Providers of online platforms and very large online search engines are under an obligation to assess and mitigate identified systemic risks, such as the dissemination of illegal content, the negative effects on the exercise of fundamental rights and on civic discourse or electoral processes, according to Romania's National Communications Administration and Regulation Authority (ANCOM)."This obligation derives from the scale of their services (over 45 million monthly active users in the European Union). Systemic risks are the dissemination of illegal content, negative effects on the exercise of fundamental rights, negative effects on civic discourse, electoral processes and public safety, negative effects on gender-based violence, protection of public health and minors, and serious negative consequences on the physical and mental well-being of the individuals. The measures to mitigate the systemic risks identified must be reasonable, proportionate and effective, and providers of very large online platforms or very large online search engines must pay particular attention to the impact of those measures on fundamental rights," ANCOM reported on Thursday.According to the regulator of the local telecommunications market, in order to comply with the obligations provided by the Digital Services Regulation, the European Commission has published Guidelines for providers of very large online platforms and very large online search engines on mitigating systemic risks for electoral processes.Thus, it is recommended to adopt risk mitigation measures, during and after the elections, such as strengthening internal processes, including by setting up internal teams with adequate resources, to analyse the available information on the risks specific to the local context and how their services are used to seek and obtain information beforehand, during and after elections.Also, the implementation of election-specific measures, including: promoting official information on electoral processes, media literacy initiatives and adapting recommendation algorithms to empower users and reduce the monetisation of content that threatens the integrity of electoral processes, as well as its viralisation. In addition, political advertising must be clearly labelled in the light of the new regulation on transparency and targeting in political advertising.Another recommended measure refers to mitigating the risks of Generative Artificial Intelligence (GenAI), by clearly labelling the content generated by the new technology, by adjusting the terms and conditions of use and by ensuring their application."Cooperation with authorities, independent experts and civil society, at national and European level, to facilitate the effective exchange of information and the application of appropriate risk mitigation measures, including in the field of foreign information manipulation and foreign interference, disinformation and cybersecurity. Adopt specific risk mitigation measures, including an incident response mechanism, during the election period to limit the impact of events that could significantly influence the outcome of elections or voter turnout. Assessing the effectiveness of risk mitigation measures through post-election reviews. Very large online platforms and very large online search engines should publish a non-confidential version of these ratings to allow public feedback on the measures taken," are other recommendations for online platforms and very large online search engines.The European Commission has exclusive competence to supervise and ensure compliance by providers of very large online platforms and very large online search engines with the obligations set out in Articles 34 and 35 (risk assessment and mitigation) of the Digital Services Regulation. In this regard, for the development of the guidelines, the European forum cooperated with the digital services coordinators within the European Digital Services Committee.In Romania, ANCOM is the digital service coordinator. Its role is to supervise intermediary service providers established in Romania and to ensure compliance with the Digital Services Regulation. In case of non-compliance by intermediary service providers established in Romania with the provisions of the Digital Services Regulation, sanctions may be applied, including significant fines.

Currently, over 30% of Romania's energy is produced by wind turbines

Fri, 16 May 2025 00:00:00 +0300

Over 30% of Romania's energy is currently produced by wind power, to which is added 20% hydro and 11% photovoltaic, Energy Minister Sebastian Burduja wrote on Facebook."The wind is blowing well for Romania! At this time, over 30% of Romania's energy is produced by wind farms. This symbolic threshold is a clear signal: the energy transition is underway, and Romania is positioning itself more and more firmly on the European green energy map. It is further proof that investments in renewables are paying off. And when we add to this picture 20% hydro, 11% photovoltaic and even the beginnings of storage (which already appears in the mix, with 18 MW installed), we have almost 63% clean energy in the network. Plus almost 19% from the Cernavod? power plant. Therefore, over 82% of Romania's energy comes from sources with low or zero emissions. It is a transformation directly supported by the Ministry of Energy's strategic investments in green technologies and balancing capacities", stated Sebastian Burduja.According to him, the investments made by the Ministry of Energy in recent years are unprecedented. According to him, over 2 billion euros are available through the Modernization Fund for renewable energy projects and transmission and distribution infrastructure. Another 1.5 billion euros are allocated to support renewable energy production capacities, through ongoing project calls. In parallel, 300 million euros are dedicated exclusively to the development of battery storage capacities - an essential component for the efficient functioning of a modern energy system."The results are already visible. In just 12 months, the storage capacity in Romania has increased from 8 MWh to almost 400 MWh available in batteries. Hidroelectrica recently signed the contract for the first Li-ion battery storage project in its portfolio, which will be located at the Crucea Nord Wind Farm and will have a capacity of 72 MWh. The total value of the contract is almost 80 million lei, and the works will be completed within 12 months. Moreover, the partners of this project are two Romanian companies - Prime Batteries Technology and Enevo Group, which bring added value and state-of-the-art technology developed in Romania," wrote Sebastian Burduja.He also specified that these investments directly contribute to reducing imbalances in the electricity grid, improving the performance of wind turbines and ensuring balancing services for the entire national energy system. In other words: more stability, efficiency and reliability for Romania's electricity grid."Our goal is clear: over 3,000 MWh of storage capacity by 2030 and an energy mix dominated by clean, secure and competitive sources, with a doubling of Romania's energy production capacity. Romania is not only catching up, but will become a regional leader in this strategic sector, with a safer, more accessible and cleaner energy system," added the energy minister.

KMG International (Rompetrol) appointed a new management team

Fri, 16 May 2025 00:00:00 +0300

KMG International has recently appointed a new management team as part of its strategy to develop, increase efficiency, and consolidate its operations in Romania and the Black Sea region. According to recent decisions of the KMGI Board of Directors, the new team will be coordinated by Erik Sagiyev as Chief Executive Officer (CEO). With over 20 years of experience in the energy sector and expertise in major projects within the upstream segment of the oil industry, he will be responsible for leading and executing the Group’s overall strategy, driving the achievement of the business objectives and ensuring strong operational and financial performance, in line with the vision and strategic direction set by the sole shareholder of the Group, the national oil&gas company from Kazakhstan – KazMunayGas. The new CEO will have an essential role in driving the Group’s continued growth and strengthening its regional and international positioning, objectives supported by the ability to navigate both industry and governmental environments, combined with deep expertise in business development and strategic partnerships. Before joining KMG International, he held leadership positions in several companies within KazMunayGas. Erik Sagiyev will lead the team consisting of Yedil Utekov (Chief Production & Industrial Services Officer), Abi Zivs (Chief Trading & Supply Chain Officer), Vlad Rusnac (Chief Marketing & Retail Officer), Arman Alimzhanov (Chief Corporate Services Officer) and Adrian Tohanean (Chief Financial Officer), highlighting the company’s commitment to excellence and strategic development in the core areas of production, supply chain, and retail. Yedil Utekov has assumed responsibility for overseeing the production and industrial services operations within the KMGI Group. He held the position of Director of the Refining and Petrochemical Division of KazMunayGas from 2023 to 2024. In this role, he coordinated the operational activities of several production facilities, including refineries, power plants, and petrochemical units. Yedil Utekov has over 20 years of experience in the field and has held several important positions within KMG International. From 2020 to 2022, he held the position of Director of the Production and Industrial Services Block. Abi Zivs ensures the efficiency and development of logistics flows at the Group level according to the business strategy. The Trading and Supply Chain Block is responsible for the supply of raw materials to the Petromidia refinery, as well as for the distribution of finished products in Romania and the Black Sea region. In his over 30-year career, Abi Zivs has held managerial positions in strategic companies in Latvia, Turkey, and Kazakhstan. Vlad Rusnac is responsible for consolidating and expanding retail operations in Romania, the Republic of Moldova, Bulgaria, and Georgia, developing business under the commercial brands Rompetrol, HEI, Fill&Go, and Efix, as well as overseeing wholesale activities in these countries. Throughout his career of over 18 years within KMG International, Vlad Rusnac has accumulated extensive experience in commercial operations, finance, business development, retail, network development, supply chain, energy transition, and decarbonization within the various entities and divisions of the Group. Arman Alimzhanov will be responsible for defining the strategy and ensuring operational management for the Corporate Services & Control Unit in line with business goals and expected operational and financial performance. With over 15 years of experience in corporate governance, M&A and capital markets deal structuring, Arman Alimzhanov also has expertise in legal & compliance. Adrian Tohanean will continue his activity, which he started in 2007, in the KMGI Group. In his current role, he will provide expertise and strategic leadership in managing the Group's financial activities, ensuring the oversight of financial operations and their financial integrity. About KMG International KMG International (Rompetrol) is one of the most important players in the Romanian energy industry, a top employer, providing stability, both to those working in its member companies and to the national energy sector. The group is one of the largest contributors to Romania's state budget, and Rompetrol is among the top 10 most valuable brands in the country. In Romania, the Group operates two refineries - Petromidia N?vodari (the largest and most complex domestic refinery in the sector) and Vega Ploiesti (the only bitumen and hexane producer in Romania), and the only petrochemical division. With a total volume of 4.6 million tons of raw materials processed in 2024, the Petromidia refinery in Navodari is a pillar of stability, ensuring petroleum products in the Black Sea region. It processes mainly crude oil of Kazakh origin (KEBCO—Kazakhstan Export Blend Crude Oil and CPC—Caspian Pipeline Consortium), and the supply is ensured via the Tengiz/Atyrau—Novorossiysk pipeline and by sea through Kazmortransflot, the national maritime transportation company of the Republic of Kazakhstan. KMG International also owns the only Romanian offshore marine terminal on the Black Sea, located 8.6 kilometers off the Midia Port, adding value to downstream operations by directly supplying the Petromidia refinery. The Rompetrol distribution network in Romania also consists of 1,342 sales points, including the network of its own stations, partner stations, mobile stations: express, CUVE and RBI. To these, an extensive fuel distribution network in the Black Sea region is added: both through the Group's subsidiaries and under the Rompetrol brand (Romania, the Republic of Moldova, Bulgaria, and Georgia), as well as through various partners in the Central and Eastern European region (Turkey, Serbia or Greece). Through the trading division KMG Trading Switzerland, the Group ensures the necessary raw materials and petroleum products, both for its subsidiaries and for other external customers in the Black Sea and Baltic Sea regions, according to the legal provisions established at the European Union level and national and international legislation in the field. Registered in the Netherlands, KMG International NV (KMGI) is fully owned by KazMunayGas.

Nofar Energy Signs EPC & O&M Deal for 265 MW Solar Plant

Fri, 16 May 2025 00:00:00 +0300

Nofar Energy, one of the most dynamic renewable energy investors in Romania, has signed an EPC turnkey and O&M contract for a 265 MW photovoltaic power plant in Corbii Mari, Dambovita County. The Contractor and Operator is a consortium of companies that are part of Spain-based COX Energy and Romanian-based AJ Construction, part of AJ BRAND. A multijurisdictional team of Clifford Chance lawyers coordinated by the Bucharest office advised Nofar Energy on this deal. The team of Clifford Chance lawyers including Lavinia Dinoci (Counsel), Diana Borcean and Nicolae Grasu (Senior Associates) from the Bucharest office, and Marcin Markowski (Counsel) and Kinga Grzelczak (Associate) from the Warsaw office advised Nofar throughout the entire process, including the negotiation and drafting of contractual documents. The Nofar Energy project team included Favi Stelian (CEO Nofar Energy Romania), Roxana Gherghe (CFO), Alex Greenberg (Senior Legal Counsel), Elad Michaeli (VP Global Operations), and Sapir Naaman (Project Manager at Nofar Group).

The feasibility study for the HVDC project that will connect the Black Sea to Hungary has been completed

Fri, 16 May 2025 00:00:00 +0300

Transelectrica, TAQA, Meridiam, and E-INFRA welcome the successful completion of the feasibility study for the High Voltage Direct Current (HVDC) interconnector linking the Black Sea to Hungary. Conducted by CESI, the study confirms both the technical feasibility and economic rationale for the planned underground transmission system. The project is supported by the Romanian Ministry of Energy and aligns with European objectives to enhance grid resilience and integrate renewable sources. The HVDC interconnector is a key step in strengthening regional energy networks and enabling the transmission of renewable electricity from Romania to neighbouring countries. By using existing infrastructure corridors, the project is expected to reduce permitting timelines and environmental impact, while supporting a more efficient and reliable transmission system. The consortium remains committed to advancing the project in coordination with national and European stakeholders, building on the positive outcomes of the study and in line with Romania’s long-term energy goals.

Retele Electrice Romania launches auction of up to 180 million RON for connection works

Fri, 16 May 2025 00:00:00 +0300

Retele Electrice Romania launched on the electronic public procurement platform SEAP a public auction with a maximum value of approximately 180 million RON, excluding VAT, for the performance of customer connection works to the distribution networks managed by the company.According to a press release, contractors will receive orders to build medium and low voltage electrical installations, as a result of connection requests from users."The works in question involve connecting new consumption and/or production sites to the network, modifying existing connection installations, as well as clearing sites affected by the electrical infrastructure," the press release reads.The project also includes extensions of the Romanian Electric Networks installations, the construction of medium and low voltage overhead and underground power lines, the construction of overhead connections and transformer stations, the construction of substations and power points in civil or independent buildings, works on the medium voltage bars of IT/MT transformer stations, as well as the restoration of public areas that will be affected by these interventions.The duration of the contract is 60 months, and the deadline for submitting bids is May 28, 2025."Retele Electrice Romania assumes responsibility for environmental protection by applying a certified management system, which aims to reduce the impact of activities on the environment. The company responsibly manages waste resulting from the electricity distribution activity, respecting the legislation in force and its own integrated system, ensuring their reuse, recovery or disposal through authorized economic operators," the press release further states.The Romanian Electricity Networks Company operates networks with a total length of approximately 134,000 kilometers in three important areas of the country: South Muntenia (including Bucharest), Banat and Dobrogea, covering one third of the local distribution market, and is developing an investment program to improve the quality of services, the safety and performance of the networks and the local implementation of the environmental standards of the PPC group. The electricity networks operated by the company number 289 transformer stations and over 25,000 transformer stations.

Gov't approves Romania - UK Convention on double taxation elimination

Fri, 16 May 2025 00:00:00 +0300

The Executive approved on Wednesday a bill on the ratification of the Convention between Romania and the United Kingdom of Great Britain and Northern Ireland for the elimination of double taxation with respect to income and capital gain taxes and the prevention of tax evasion and avoidance, as well as of the Protocol annexed to the Convention signed in London on November 13, 2024.According to a government release, the text of the new Convention which replaces the one from 1975 is consistent with Romanian law, with the Organization for Economic Cooperation and Development's model of convention for the elimination of double taxation, with the plan to combat base erosion and profit shifting (BEPS plan) adopted by the OECD in 2016, and with the provisions of the Trade and Cooperation Agreement between the European Union and the United Kingdom of Great Britain and Northern Ireland."The new convention includes an anti-abuse provision in the preamble, according to which this legal instrument does not create opportunities for the benefit of third-country residents regarding non-taxation or the reduced taxation of their income as a result of tax evasion or tax avoidance, including through financial arrangements aimed at obtaining the benefits provided for in the convention," the release states.One of the novelties comes in the article regarding the "permanent establishment", with two new paragraphs being introduced to describe the circumstances in which a certain enterprise is closely linked to another, as well as a provision to prevent the fragmentation of a unitary economic operation into several small operations for which it could be argued that they each represent a preparatory or auxiliary activity, which would not generate a permanent establishment."Profits derived from a construction site or a construction or installation project shall be taxable in the state where the activity is carried out only if such activity spans a period longer than 12 months. Profits derived by a resident of a contracting state from the operation of ships or aircraft in international traffic shall be taxable only in the respective state. These profits also include those derived from the rental of a bareboat ship or aircraft, as well as those from the use, maintenance or rental of containers used for the transport of goods or merchandise, when such operations are carried out in connection with the operation of ships or aircraft in international traffic," the release shows.In the case of dividends, the tax rate provided for by the new convention is lowered to 5% from 10% before; in the case of interest, the tax rate is cut to 3% from 10%, and in the case of royalties, the tax rate is now 3% compared to 10%, the cited source specifies.The new convention also regulates the taxation of income in the form of salaries and pensions, income collected by members of boards of directors, public office employees, students, trainees, performing artists and athletes, as well as income obtained from capital gains.Also, the new convention regulates aspects related to the methods of eliminating double taxation, non-discrimination, the amicable agreement procedure, exchange of information, the entry into force of the new convention and the termination of the validity of the 1975 convention.The bill will be referred to Parliament for debate and adoption.

PresidentialElection2025/Nicusor Dan's social media accounts overrun with fake activities, responsible authorities notified

Fri, 16 May 2025 00:00:00 +0300

Bucharest General Mayor and presidential hopeful Nicusor Dan announced that he has notified the responsible Romanian and European institutions as well as the social media platforms about the fact that he is no longer able to use his social media accounts, which have been "invaded" in recent days by hundreds of thousands of fake accounts.Speaking on Wednesday in a press conference held at his campaign headquarters, Nicusor Dan said: "Where is the Romanian state? The November elections were canceled because the election result was hijacked through cyber means. And obviously, Romania's image was harmed a lot. And we had some promises from the Romanian state that this situation would not happen again. Yet here we are, in the situation where for already one day I have been unable to use my social media accounts, because they are invaded by hundreds of thousands of fake accounts," Nicusor Dan argued.He explained that he had 70,000 followers on Instagram, but that in just two days their number soared to 180,000, whereas shares from his Facebook account skyrocketed from a normal 600-800 to 100,000 shares. The same on TikTok, the surge was from 400-600 shares to 100,000 now.Also, he specified that on all three platforms there are tens of thousands of comments "in a very approximate Romanian language", made from accounts in Vietnam, Pakistan, Brazil, India, Indonesia."The consequence? One - it's a day now that we have no longer been campaigning. Two - we are at maximum risk that the platform operators will notice this unusual activity and shut down these accounts," the mayor said.He mentioned that he filed complaints with Romania's Central Electoral Bureau, the Permanent Electoral Authority, the National Communications Administration and Regulation Authority, the Ministry of the Interior, the National Cybersecurity Directorate and the Prosecutor's Office, as well as with the European institutions - DG CONNECT, the European Commission's Representation in Romania, StratCom and the European Network of Election Monitoring Organisations.At the same time, notifications were sent to the official representatives of the Meta and TikTok platforms. Nicusor Dan mentioned that he trusts the representatives of European companies and institutions more than their Romanian peers, "which should have been prepared" for this type of activity. Dan stressed that he has "no suspicion" about who initiated this action, but wants "state institutions to do their duty."

PresidentialElection2025/IRSOP poll: George Simion and Nicusor Dan - leading preferences

Fri, 16 May 2025 00:00:00 +0300

The Alliance for Romanians' Union (AUR - opposition) party leader George Simion and Bucharest's general mayor Nicusor Dan are leading in voter preferences for the presidential elections in May, with only a three-percentage-point gap between them, according to an IRSOP poll conducted April 4-14.According to the sociological research, 31% of Romanians said they would vote for George Simion if the presidential election were held the next day, 28% for Nicusor Dan, 18% for Victor Ponta, 17% for Crin Antonescu, and 4% for Elena Lasconi. The other candidates - Cristian Terhes, Lavinia Sandru, John-Ion Banu-Muscel, Silviu Predoiu, Daniel Funeriu, Sebastian Constantin Popescu - would collectively receive 2% of the vote.When asked which candidate is most capable of improving people's well-being, fighting corruption, being a strong leader, keeping promises, maintaining national stability, supporting the business environment, and strengthening Romania's position in the EU, 27% of Romanians pointed to George Simion, 20% to Nicusor Dan, 20% to Victor Ponta, 14% to Crin Antonescu, 4% to Elena Lasconi, while 15% said they didn't know.The poll also surveyed opinions about political parties. Regarding AUR, 34% of respondents had a fairly positive opinion, and 63% a rather negative one; the National Liberal Party (PNL) - 26% positive, 70% negative; the Hungarian Democratic Union of Romania (UDMR) - 26% positive, 66% negative; the Save Romania Union (USR) - 25% positive, 70% negative; the Young People's Party (POT) - 22% positive, 64% negative; the Social Democratic Party (PSD) - 20% positive, 76% negative; and S.O.S. Romania - 13% positive, 81% negative.For this survey, IRSOP conducted telephone interviews with 1,030 people between April 4 and 14. The sample is representative of the Romanian population aged 18 and over. The margin of error is +/-3%. The poll is a public information service fully funded by IRSOP.

Military base at Kogalniceanu to become

Fri, 16 May 2025 00:00:00 +0300

All Romania - U.S. agreements, including those regulating the American military presence in Romania, are in force, are respected and permanently adapted to security developments in the regional environment, sources from the defense field stated on Wednesday.In this regard, the strategic facilities hosted in military bases on Romanian territory, such as the American forces stationed in a rotational system in the 57th Air Base at Mihail Kogalniceanu or the Aegis Ashore anti-missile system installed in the 99th Deveselu Base, which is integrated into the NATO anti-missile system, "represent clear evidence of the common Romanian-American commitment to allied collective security", the said sources indicate.In this context, the cited sources emphasize that the modernization and expansion of the 57th Air Base at Mihail Kogalniceanu, with an investment by the Romanian Government of over 2.5 billion euros, will transform this location into a "regional strategic hub for NATO", capable of hosting up to 10,000 Romanian and allied military personnel.Romania's investment is structured over 20 years, with implementation in four stages.The presence of American forces on Romanian territory, supported by significant investments in defense infrastructure, strengthens regional security and deters external threats.At this moment, a total of over 1,700 U.S. military personnel are deployed in Romania, mainly at Mihail Kogalniceanu, Deveselu and Campia Turzii. (Photo:https://armed.mapn.ro/105_avioane-eurofighter-typhoon-au-aterizat-la-mihail-kogalniceanu)

Romania do not have to resort to IMF, and there are no signs of an imminent governmental crisis

Fri, 16 May 2025 00:00:00 +0300

Romania is not in a situation that justifies resorting to the International Monetary Fund (IMF), and there are no signs of an imminent governmental crisis, the Presidential Administration said on Wednesday."The spread of alarmist news, based on anonymous sources, without a minimum verification, not only misinforms the public opinion, but can generate unnecessary panic, affecting the climate of economic stability and citizens' trust in state institutions. We invite the media representatives to responsibility and balance, especially now that Romania needs coherence, predictability and trust."In a statement sent to the press, the Presidential Administration added that it "remains open to dialogue, with respect for the freedom of the press, but strongly condemns the promotion of unverified information, which can directly affect the public interest."