October 11, 2025 UPDATE
The latest news from RRI
Newsroom, 11.10.2025, 20:00
London – The Fitch financial rating agency has revised upwards its estimates regarding the evolution of Romania’s deficit, which is expected to decrease this year to 8.5% of the Gross Domestic Product, from the record level of 9.3% recorded last year. In an analysis published on Friday, the agency notes that, in the coming years, the budget deficit is expected to be reduced only to 7% in 2026 and to 6.5% in 2027. The agency revised the deficit forecast in the context in which, it says, the fiscal measures already taken by the Romanian government could encounter difficulties in implementation, amid modest economic growth and persistent political uncertainty. Fitch analysts also say that reducing deficits and stabilizing debt are crucial conditions for lifting the negative outlook associated with the ‘BBB minus’ country rating assigned to Romania.
EU budget – The Romanian Finance Minister Alexandru Nazare says Romania has a duty to firmly defend its interests with arguments and a realistic understanding of the European context, but at the same time to respect its commitments. He participated, on Friday, in Luxembourg, in the ECOFIN meeting of EU finance ministers, where discussions focused on the future budget of the European Union. According to a statement from the Romanian Finance Ministry, Alexandru Nazare told his counterparts that the financing of the EU budget must take into account the level of economic development of each EU member state. Romania – the statement also shows – will support a sustainable and realistic European budget, capable of supporting the Union’s priorities and bringing tangible benefits to citizens. On the sidelines of the ECOFIN meeting, Minister Nazare discussed with the European Commissioner for Economy, Valdis Dombrovskis, the deficit reduction measures adopted by Romania, as well as the next steps for developing a realistic national budget for 2026. Another important topic was the renegotiation of the National Recovery and Resilience Plan (PNRR).
Festival – Bucharest is hosting this weekend the 9th edition of the International Light Festival – SPOTLIGHT. The theme of this year’s edition is ‘Symbiosis’, inviting the public to reflect on how light can create connections between the city, the community and the environment. During the three days of the festival, from Friday to Sunday, artists from Romania, France, Germany or the Netherlands present over 20 interactive installations, spectacular video mapping sessions and digital artworks that transform the center of Bucharest into a spectacular visual landscape. In parallel with the street projections, conferences dedicated to professionals and enthusiasts in the field of digital art and international festival production are also taking place in Bucharest. Among the guests of the 2025 edition are internationally renowned artists and curators who will discuss or give presentations about the creative processes behind the great light festivals.
Expo – The Romanian Pavilion at the Osaka 2025 World Expo hosted, on Saturday, an event dedicated to architecture and design, which brought together prominent academic and professional figures from Romania and Japan in a dialogue about the architectural concept, the construction process and the cultural significance of the Romanian Pavilion. Entitled ‘The Magic Box’, the Pavilion offered an interactive and multi-sensory approach to the numerous visitors who crossed its threshold. At Expo Osaka 2025, Romania organized numerous economic and commercial promotion events, five large-scale artistic events and about 2 thousand other live performances within the National Pavilion. 160 countries and regions participated in the World Expo. It was open for 184 days and it will end on Monday.
Fake banknotes – The Romanian police have drafted almost 230 criminal cases this year for acts of fraud with fake prop banknotes. The European Central Bank has identified and classified this type of banknote as a means of counterfeiting. Prop banknote frauds are comparable, in their social and economic impact, to other methods of fraud – victims are fooled through seemingly ordinary transactions, such as sales of goods or currency exchanges. The clarifications come after the Romanian Police announced a record seizure of such fake banknotes in the Black Sea Port of Constanta. 160 boxes containing fake money worth 960 million Euros were confiscated. The action was carried out as part of an international operation aimed at identifying suspicious packages containing counterfeit banknotes entering the European Union from countries such as China or Turkey. (LS)
