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Romanian emergency crews intervened in 47 localities across 16 counties and in Bucharest following heavy rains and storms during the night of Tuesday, October 7, to Wednesday, October 8. The red code alert is expected to last until Wednesday afternoon, and orange and yellow codes will be in place until midnight.  In Bucharest and Ilfov county,…

Romanian renewable energy contractor Parapet and German electrical engineering firm Kreutzpointner Energy said they recently completed a 40 MWp photovoltaic power plant near Friedland, in Lower Saxony, Germany. They are now working on two other solar plants. The Friedland project marks the first of three large-scale solar parks the partners are developing in Germany. Construction…

Romania is currently spending 7.5% of its public budget, the third-highest ratio in the European Union after Hungary and Italy, because of the high borrowing cost (6% for the 10-year debt, compared to 4.6% paid by non-investment grade Serbia) and despite the lower debt-to-GDP ratio. Streamlining public spending, besides just hiking revenues/taxes, would reduce the…

The commercial banks’ chief economists expect no rate cuts on October 8 or by the end of the year. Such a move is seen as possible in February-May next year, while the liquidity management is seen as a possible indirect instrument used by the monetary authority in case of disappointing economic performance, according to analysts…

CFA Society Romania expects the country’s economy to stall this year with GDP growth around 0%, with risks on the downside, as recession risk persists. The GDP growth will hover around 0–0.5% next year, while the use of EU funds is key to resume economic growth at more relevant rates starting from 2027, according to…

The Seattle Romanian Film Festival returns for its 12th edition this fall, showcasing nine Romanian feature and documentary films at the SIFF Cinema Uptown, one of Seattle’s most prominent venues for European cinema. The event is scheduled for November 7-9. Organized by the American Romanian Cultural Society (ARCS) in collaboration with the Cultural Association Control…

Romania’s Social Democratic Party (PSD) secured support in the Senate’s labour and health committees for two legislative proposals aimed at exempting several vulnerable categories from paying the social health insurance contribution (CASS). The exemptions would apply to mothers on parental leave, war veterans and widows, persons with disabilities, former political prisoners, and members of religious…

Romania’s outsourcing industry, employing more than 200,000 people, has warned that a proposed “tax on affiliates” could undermine its competitiveness by effectively increasing the sector’s tax burden. The measure, part of a fiscal package drafted by the government, approved by parliament, and now under review by the Constitutional Court, restricts the deductibility of certain expenses…

Romania’s electricity utility group Electrica, controlled by the state (49%) and listed at the Bucharest Exchange (BVB: EL), with supply and distribution operations, requested the shareholders’ approval for borrowing up to EUR 1 billion. The money will be used for acquisitions. Electrica expressed plans to buy companies (shares/social parts), business lines, or individual assets within…

Romania’s economy is expected to post the weakest economic growth among the World Bank’s Europe and Central Asia universe, only 0.4% – half of Russia’s 0.9% advance and far from Ukraine’s 2.0% advance, to name two countries currently in war. The recovery will not be robust, with growth rates of 1.3% in 2026 (again the…