Category: Uncategorized

The subway operated in Romania’s capital city, Bucharest (5.97 points), ranks in seventh place, at par with that in Copenhagen, in a ranking of Europe’s best underground public transportation systems, where Sofia (ranked second, 7.64 points) is challenging the leading position held by Norway’s capital Oslo (8.06%).  Copenhagen’s automated subway operates 24/7, with trains arriving…

The income tax rate may increase from 10% currently to 13% in 2025, according to estimates of trade union federation BNS based on the medium-term fiscal consolidation plan drafted by the government that envisages 1.1%-of-GDP advance of the revenues from income taxation. The most plausible scenario for reducing the deficit could include, among other measures,…

A study by IBC Focus reveals that 60% of Romania’s largest construction firms expect higher turnover in 2024, while 20% foresee stagnation and another 20% anticipate revenue declines.  Official data show that the construction works volume dropped by 2.5% y/y in January-August, driven by a 23% y/y plunge in the residential segment partly offset by…

Romania’s public debt rose by over RON 10 bln (EUR 2 bln) in August to reach RON 887 bln (EUR 178.2 bln) at the end of the month. The debt-to-GDP ratio calculated under ESA methodology, namely based on the latest available 12-month GDP, reached 52.7%, up from 50.0% one month earlier and 48.8% at the…

Noting that the inflation eased slower than anticipated and will follow a trajectory above that of the previous projections, as well as outlining domestic (fiscal and income) and external (Ukraine, Middle East) risks, Romania’s central bank (BNR) on decided November 8 to keep the monetary policy rate at 6.5%. Faced with multiple sources of uncertainty…

Romania’s government will return the surcharges illegally collected only to the energy producers who challenged in court the relevant provisions, the Ministry of Energy said after a Constitutional Court invalidated some parts of the system of surcharges and compensations enforced in 2022 to keep the end-user prices under control, Economedia.ro reported. At this moment, the…

Dozens of towns and other localities across Romania will receive digitalized eco-islands for waste collection after an EUR 260 million project initiated by the Environment Ministry. The funding for the program is provided through the EU-backed National Recovery and Resilience Plan, or PNRR. The first eco-islands were installed in the towns of Dărmănești and Moinești,…

MEP Victor Negrescu recently announced that Romania is on the “final stretch” toward full accession to the Schengen area. Romanian authorities on the governmental side showed increased optimism in the matter in the last weeks as the presidential elections draw closer. Negrescu, a vice-president of the European Parliament for the Social Democratic group, made the…

Farmland prices in Romania have seen a sharp increase over the past decade, with some regions experiencing rises of up to 40%, according to a new report by Appraisal & Valuation SA (BVB: APP), the company behind the NAI Romania & Moldova brand. Driven by strong investor interest, infrastructure improvements, and rising demand for agricultural…

The new supply of retail projects could exceed the threshold of 200,000 sqm in Romania in 2024, considering that 140,000 sqm of shopping centers and retail parks were delivered nationwide in Q1-Q3, according to real estate consultancy company Cushman & Wakefield Echinox. By comparison, in 2023, developers completed 213,000 sqm of new retail spaces, a…