Romania has received a World Bank loan to cover its budget deficit
The World Bank has granted a loan to Romania to cover its budget deficit, Romanian Prime Minister Marcel Ciolacu has announced, explaining that the financial arrangement in question is not seen by the international financial institution as a risk. In his opinion, in just three years Romania could have reached a 3% deficit only if investments were halted, but the prime minister gave assurances that this is not the case. „What I can tell you is, for example, that the World Bank gave us a loan to cover the deficit. I assume that the World Bank saw the pace of Romania’s development and did not consider it a risk to invest in Romania. We have to decide. Do you want us to enter the logic where in two months, if you like, I stop all investment and we have a 3% deficit? I don’t have a problem with all the expenditure that has been increased on salaries, and you are well aware that costs on salaries increased last year in education and health. I am not stopping investments in Romania,” said Prime Minister Ciolacu, adding that a negotiation with the future European Commission on the budget deficit will follow.
Romania needs more money for its health system
Romania needs more money for its health system, or to streamline health spending to ensure that treatments reach patients who do not yet have access to innovative therapies or benefit from the reimbursement of new drugs. Health revenues only cover 60% of the necessary costs, Daniela Pescaru, State Secretary at the Ministry of Finance, said on Tuesday. She explained that there are more than 16 million insured and less than 6.5 million are paying, even though the budget of the National Health Insurance Fund has increased. „The estimated costs for this year is up almost 25.7% compared to 2023. I’m not advocating for increasing the health contribution, it’s right to maintain it, but it’s also right for everyone to pay proportional with the revenue they collect. We can have some social protection for those on low incomes. An unprecedented development in spending on sick leave, and I give you an example. In 2017, spending on sick leave was 800 million, and in 2022 it will be 5.9 billion, a 7.4-fold increase. There are also other things that should be taken into account, including payment according to performance, the workload of medical staff,” Daniela Pescaru said and added that she expects a budget rectification in September, which would bring more money to health.
Transatlantic Partnership for Transatlantic Cooperation on Energy and Climate Business Forum begins in Bucharest
Several U.S. Administration officials from the Departments of Energy and Commerce are in Bucharest, where they are participating in a business forum of the Partnership for Transatlantic Cooperation on Energy and Climate, at the Palace of Parliament. Other participants include energy ministers from Ukraine, Greece and Moldova, as well as Poland’s industry minister. On the agenda are energy security and transition, infrastructure projects and how cities are implementing strategies to become cleaner. Opening the meeting, Romanian Prime Minister Marcel Ciolacu said that global solutions must be found to problems in energy or those created by climate change. „Our national energy systems influence each other, they communicate and depend on each other, and climate certainly does not respect borders. The challenges in these areas are global and therefore we need to find global solutions. Together with our European and American partners we can propose effective solutions for energy and climate, we can only do so if we work in synchronization – and I don’t just mean politicians, but also businessmen, researchers, experts and civil society,” said Prime Minister Ciolacu. The forum, organized by the Romanian Ministry of Energy, the US Department of Energy and the Atlantic Council, continues on Wednesday with a ministerial meeting, which will focus on the role of industrial policy in achieving transatlantic energy security and climate goals.
Romanian Ethos in the Versailles Palace Gardens
The most beautiful chords of Romanian classical music resounded in the gardens of the Palace of Versailles near Paris, performed by the Bucharest National Opera Orchestra and Chorus. The performance „Romanian Ethos”, funded by the Romanian Government through the Department for Romanians Abroad, in partnership with the Romanian Cultural Institute and the Romanian Embassy in France, was intended to be a new cultural bridge between Romania and France on the occasion of the Paris Olympic Games. Promoting Romanian culture abroad and strengthening ties between Romania and France was done through a sublime repertoire, opening with the chorus from the Operetta „Crai Nou” by Ciprian Porumbescu and ending with George Enescu’s Romanian Rhapsody. The audience was absolutely delighted. „I was very excited. Tonight we came with our children, especially to listen to the Romanian Opera,” said a Romanian family. The Bucharest National Opera’s tour in Paris also includes a concert of sacred music on Wednesday at the Orthodox Cathedral of Saints Archangels Michael, Gabriel and Raphail in Paris and a concert on July 25 at the Romanian Embassy in the French Republic, on the occasion of the inauguration of Romania’s House at the Paris 2024 Olympic Games.
Magda Baciu, RADOR RADIO ROMÂNIA
