11.12.2011

Romania's 2012 general consolidated budget provides total revenue of 195.3 billion lei (EUR45 billion) and total expenses of RON206.5 billion, therefore a nominal deficit of RON11.2 billion, more

11.12.2011

Romania's Government estimates that restructuring the state-owned enterprises monitored through the agreement with the IMF will reduce their arrears by 5-6 billion lei (EUR1.15-1.38 billion) next more

11.12.2011

Romania will increase excise duties on diesel fuel by 4.4% on January 1, from EUR358 to EUR374 per ton, according to a government document. more

11.11.2011

Romania's Government will reduce the budgets of half of the country’s ministries next year, including Education, Culture, Agriculture and Justice, as well as the budget of the Parliament, but will more

11.11.2011

Romania's Government expects the average unemployment rate to drop slightly next year, to 4.5% from this year's projected 4.9%, with the number of people out of work to decrease by 35,000, down to more

11.11.2011

Romanian government targets total revenues to the state budget of 95.65 billion lei (EUR22 billion) in 2012, up 13.5% on the year, while overall spending is poised to stagnate at around RON113 more

11.11.2011

Romania's draft budget for 2012 states pensions will be frozen in the entire year, with no mention of possible raises in the second half, and will again require a transfer of 13.8 billion lei (EUR3.17 more

11.11.2011

Romania's Government next year will reduce the share of income tax collections provided to local authorities and will cut transfers to local budgets from taxes on pensions, denying mayors a source of more

11.10.2011

Romanian government is due to release its second budget revision of 2011 at the end of November, with new spending cuts across the board, people familiar with the matter said Thursday. more

11.10.2011

The initial contribution to the Romanian private pension guarantee fund will amount to about EUR500,000 and will be paid by private pension fund administrators and pension providers by May 1, 2012, more

11.09.2011

Lower spending on public sector employees and especially on those in the police and military, along with continued investments in upgrading the state apparatus should be priorities on the agenda of more

11.08.2011

The Government needs to cut the number of public sector employees, continue investments but not in the unprofitable state-owned companies, and ensure transparency of spending by putting people in more

11.03.2011

Romanian President Traian Basescu said Thursday, after a meeting with the IMF, World Bank and European Commission delegation, that next year's budget will be built on a deficit of 1.9% of the GDP in more

11.01.2011

Romanian Prime Minister Emil Boc told employer organizations and labor unions that next year's state budget counts on reduced economic growth, with no "unannounced" tax hikes, but with a more

10.28.2011

Romanian Transport Minister Anca Boagiu said Friday that she wants budgetary resources in 2012 to be directed mainly to co-finance current projects funded by the EU and European Investment Bank (EIB). more

10.26.2011

Romania has entered a really tough month. The government in Bucharest is faced with five major challenges amid the international turmoil. With a mission of the International Monetary Fund on site, a more

10.25.2011

Romania’s consolidated budget posted a deficit of 13.7 billion lei (EUR3.16 billion) in the first nine months, equal to 2.5% of the gross domestic product, Finance Ministry data showed Tuesday. more

10.25.2011

The Romanian Government will propose a prudent draft 2012 budget, which should protect Romania from major risks if the situation in Europe does not improve, and none of the budget scenarios states more

10.25.2011

Contributions to mandatory private pensions (Pillar II) will increase to 3.5% of the gross wage in 2012, from 3%, according to the draft state budget, said Tuesday Andreea Paul Vass, adviser to Prime more

10.24.2011

Romania must use prudence in setting its budget targets for 2012, because the costs to finance the deficit have gone up due to the worsening situation in international markets, President Traian more

10.24.2011

The Romanian Chamber of Deputies’ Standing Bureau on Monday approved the lower house’s draft budget for 2012 of 216 million lei (about EUR50 million), said the secretary of the institution, more

10.24.2011

Romanian opposition Social Democratic Party leader Victor Ponta said Monday the Social Liberal Union will vote on the draft budget for 2012 only if social security contributions are cut by 10% and the more

10.21.2011

Eurostat has withdrawn its reservation expressed on the quality of Romania’s data on the budget deficit for the 2007-2010 period and confirmed the October 2011 notification from the eastern European more

10.21.2011

The Romanian Government has drafted the state budget bill and will send it to Parliament for approval by November 1, Ioan Oltean, secretary general of the ruling Democratic Liberal Party, told a news more

10.19.2011

Romania’s Labor Ministry has drafted a budget that raises pensions by an average 6.5% in 2012, which would cost the state budget an extra 3 billion lei (EUR680 million), minister Sulfina Barbu told more