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About 10% of Romanians hold roughly 58% of the total net wealth in the country, according to a new report by the National Bank of Romania (BNR). Overall, the net wealth of Romanians continued to grow and has reached approximately double the gross disposable income (Q4/2023). The net wealth of the population is calculated as…

In Romania, taxes represented 27% of GDP in 2022, well below the EU average of 40% but also below the average of comparable Eastern European countries: Poland (34%), Hungary (35%), Bulgaria (31%), according to the Friedrich-Ebert-Stiftung Romania Foundation quoting Eurostat data. At a moment when Romania needs to thoroughly reconsider its taxation system in order…

IBB Holding Group (IBB Holding), a group of 12 companies active in the construction field with a focus on infrastructure projects, intends to raise EUR 10mn with a bond issue at the Bucharest Stock Exchange (BVB) to increase production capacity and for working capital. “We consider the stock market a possible main actor for obtaining…

Romania may allocate a larger share of this year’s auction for CfD-backed projects to wind farms, energy minister Sebastian Burduja announced, Economica.net reported. A large amount of solar (PV) projects are already financed under the National Resilience Facility (PNRR) and Modernisation Fund, he explained. Initially, the wind and PV projects were earmarked 1,000MW each to…

Located just 30 minutes from Unirii Square, the zero point of Cluj-Napoca, the Colina Nouă complex is an oasis of well-being and a refuge from the urban agglomeration, pollution, traffic congestion which a permanent stress characteristic of the big city.  The Colina Nouă project was built for both Romanian families and expatriates that demand the highest…

Romania’s Treasury is launching new Fidelis issues of bonds dedicated to retail investors, paying 4% for euros and 6% for local currency on the 1-year maturity, coupons likely to result in real ex-post positive gains given the current inflation expectations. The real gains cannot equal those expected by less risk-averse investors willing to place their…

Romania’s gross public debt to GDP ratio reached RON 845.1bn (EUR 170.1bn) at the end of March, according to data published by the Finance Ministry.   The debt-to-GDP ratio was revised downwards to 51.7%, from 52.4% for the end of February and to 49.2% from 49.9% for the end of January, based on the rolling GDP in…

The first poll for the presidential elections carried out after the June 9 local and European elections indicates that prime minister Marcel Ciolacu, the head of the Social Democratic (PSD) party, leads against his main rivals at a substantial margin.  The poll carried out by Sociopol shows Ciolacu at 31%, twice the score of independent…

Nicolae Ciucă, the president of the junior ruling Liberal Party (PNL) argued on June 17 in favor of deferring the presidential elections from September, when they were scheduled under a preliminary electoral calendar, to December.  The statement marks the launch of a bargain between the partners of the ruling coalition in Romania, likely to win both…

In a stunning display of skill and teamwork, Romania triumphed over Ukraine with a decisive 3-0 victory at the EURO 2024. The match, held in Munich, saw Romania’s national team dominate from start to finish, delighting tens of thousands of their passionate supporters who maintained a fantastic atmosphere at the Allianz Arena throughout the match.…