BUDGET
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Development Ministry Cuts 2012 Budget By 15%, Prioritizes Almost Finished Projects
The Romanian Development Ministry’s 2012 budget was reduced by 15% and the institution will prioritize investment projects that are over 80% finished, as well as infrastructure and tourism p...
Bucharest City Hall Forced To Cut Budget By RON1B
The Bucharest City Hall has to find solutions for drastic budget cuts of 1 billion lei (EUR230 million) this year, as revenues are dwindling and the institution has already run out of the ca...
Growth Rate Of VAT Revenues Halves In January
The growth rate of revenues from the value added tax slowed down in January to 15%, half of the growth recorded in the same month of 2011. The slowdown of revenues collected came as the base...
Romania Runs RON1B Budget Surplus In January
Romania’s consolidated budget posted a surplus of 1 billion lei (EUR229.9 million) in January, equal to 0.2% of the gross domestic product, the Finance Ministry said Friday.
SIF Moldova Sees 2012 Net Profit Down To RON76.5M
Romanian investment fund SIF Moldova (SIF2.RO) expects to a achieve a net profit of 76.5 million lei (EUR17.6 million) this year, compared to RON191.5 million in 2011, when it sold its stake...
CNADNR's Investment Spending Up 0.27% This Year
Romanian road authority CNADNR's budgeted investment spending will be raised this year by 21 million lei (EUR4.8 million) or 0.27%, to RON7.751 billion, of which almost half will come from f...
Metrorex To Pay Alstom RON157M For Maintenance In 2012
Bucharest subway operator Metrorex last year paid maintenance contractor Alstom 146 million lei (EUR33.68 million) and estimates these expenses will rise in 2012 by 7.5%, to RON157 million,...
CFR Marfa Posted RON133.5M Losses In 2011
Romanian state-owned railway company CFR Marfa last year posted losses of 133.5 million lei (EUR30.76 million), 67.9% higher than the level approved in its budget, RON79.5 million.
Romania 2011 Budget Gap Shrinks To 4.35% Of GDP
Romania's budget deficit narrowed to 4.35% of the gross domestic product in 2011, from 6.5% of GDP a year earlier, the Finance Ministry said Thursday.