budget

The elimination of fiscal facilities will not be "a brutal one, to affect the activities", has said the Romanian prime minister Marcel Ciolacu, stating that the exceptions will be phased out.

Romania's president Klaus Iohannis has said on Thursday he will support the creation of an economic recovery fund in the European Union that could benefit all member states. The president added that the support offered by the EU so far to Romania reaches 1,5 billion euros.

Romanian finance minister Florin Citu said Thursday he is optimistic and expects the country's economy to recover as quickly as it collapsed.

Around 98.6% small and medium-sized businesses in Romania say their activity will be deeply affected in the upcoming period by restrictions imposed in a bid to limit the spread of Covid-19 and call for urgent measures to stay afloat.

Romania's state-owned railway fright company CFR Marfa, which has debts of RON1.3 billion, is set to implement a restructuring program to streamline operations and sell unproductive assets under the supervision of insolvency practitioners CITR.

President Klaus Iohannis has said in Brussels, before the European Council meeting debating the EU budget for the next seven years, that his ambition is for Romania to receive sufficient money for cohesion, agriculture and to have a larger budget than the previous one.

President Klaus Iohannis will attend the European Council meeting in Brussels on Thursday, the Presidential Administration announces. On the agenda of the discussions will be the Multiannual Financial Framework of the EU for 2021-2027, with the aim of reaching a consensus between the member states.