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Romania’s public debt surged by RON 21.5 billion in May alone and by RON 70.7 billion year to date, reaching RON 1.035 billion (EUR 204.1 billion) or 57.8% of GDP at the end of May, according to data published by the Finance Ministry.   Romania’s public debt rose by RON 70.8 billion (EUR 14 billion)…

The first package of budgetary measures legislated in July will have an impact of 3% of GDP on the next year’s general government’s budget, bringing it down to  6% of GDP, prime minister’s adviser Ionut Dumitru, Raiffeisen Bank chief economist and former Fiscal Council head, told Digi24. His statements come in the context of the…

Amsterdam’s H’ART Museum has opened a major solo exhibition dedicated to the work of Romanian-born sculptor Constantin Brâncuși this past weekend. The landmark cultural event is realized with the support of the Romanian Cultural Institute (ICR) and in collaboration with Centre Pompidou in Paris. The exhibition, titled Brâncuși, The Birth of Modern Sculpture, runs from…

Dedeman, Romania’s largest home improvement and construction retailer, announced on Monday, September 22, that it will expand into the Republic of Moldova, marking its first entry into the neighboring market. The company said its presence across the border will deepen economic links between the two countries and confirm Moldova’s growing attractiveness for major foreign investors.…

The giant Procter & Gamble recently started a production line in Romania, at the Urlați factory in Prahova County, according to Revistaprogresiv.ro. The company will produce Lenor scented pearls here, one of the company’s latest innovations in fabric care. Four years ago, the company inaugurated a factory for Ariel PODs detergent capsules in Urlați. Procter…

The CFA Romania Association’s Macroeconomic Confidence Indicator increased by 2.3 points in August, to a still very modest level of 37.2 points, with both components (current conditions and expectations) in the recessionary side of the 0-100 point scale. The indicator bottomed out in July after the newly formed government pushed the first package of budgetary…

Romania has collected EUR 5.7 million in insurance compensation after four cultural treasures, namely the famed Dacian Helmet of Coțofenești and three gold bracelets, were stolen earlier this year from the Drents Museum in the Netherlands, the Ministry of Culture announced. The amount represents the insurance value, not the actual value of the items, and…

Former US first lady Michelle Obama, the wife of Barack Obama, was in Bucharest on Thursday, September 18, to serve as the main guest at the second edition of the Impact Bucharest series of conferences. The former first lady spent about an hour in front of a large audience, speaking about her childhood in a…

Czech president Petr Pavel spent a few days in Romania at the beginning of September while on holiday. According to statement by the Romanian Embassy in Prague, the Czech leader traveled mountain routes by motorcycle and chose modest accommodations.  Pavel tried to see as much of what Romania had to offer. He planned his routes,…

Romania is taking tangible action toward its green transition through sustainable infrastructure projects, public‑private partnerships and green bonds. Experts, government officials and business leaders have gathered today at the CES Bucharest ESG Conference, to present progress and identify solutions through which the public and private sectors can collaborate to build a sustainable and competitive economy.…