July 26, 2024 UPDATE
A roundup of local and international news.
Newsroom, 26.07.2024, 20:01
DEFICIT – The European Council adopted on Friday decisions establishing the existence of excessive deficits for Belgium, France, Italy, Hungary, Malta, Poland and Slovakia. In addition the Council established that Romania, which is under the excessive deficit procedure since 2020, has not taken effective action to correct its deficit and therefore the procedure should remain open, according to a communiqué of the European institution. As set in the EU treaties, member states’ deficit should not exceed 3% of their gross domestic product (GDP).
LOAN – The World Bank will grant Romania a loan of 600 million euros for development policies. The money will allow the application of reforms to strengthen the fiscal framework, including for a fair pension system, the promotion of green economic growth and the stimulation of private sector investments. According to the World Bank’s regional director for the European Union, this financing reflects the institution’s confidence in Romania’s ability to integrate inclusive economic growth with environmental protection.
AIR FORCE – The first class of Romanian Air Force pilots graduated from the European F-16 Training Center in Borcea, Romania, since its opening in November last year. “We look forward to Romania opening up training to other regional allies and partners, especially Ukraine,” the US Ambassador in Bucharest, Kathleen Kavalec, said on this occasion. The center, the first of its kind in Europe, was established with the participation of Romania, the Netherlands and the United States. The Royal Dutch Air Force has so far supplied 14 F-16 fighter jets, and the American company Lockheed Martin, which produced these aircraft, was also involved in supporting the center in Borcea. Ukraine has received F-16 fighter jets from several Western partners, and its military pilots are preparing to fly this type of aircraft.
SCHENGEN – Romania welcomes Hungary’s unequivocal support for our country’s Schengen accession with its land borders, Prime Minister Marcel Ciolacu said at Friday’s meeting in Bucharest with his Hungarian counterpart, Viktor Orban. Ciolacu made this statement in the context of Hungary holding the 6-month presidency of the EU Council. In a post on a social network Ciolacu said that he discussed with Viktor Orban on topics of joint interest in the cooperation between the two states. The value of trade between Romania and Hungary stands at approximately 13 billion euros, so the two prime ministers agreed that there is unexploited potential in this sector. They also agreed to start the feasibility studies for an important project, the Budapest-Bucharest high-speed railway, a strategic project of regional interest, with an impact on the railway networks in the Central European region. Orban will next travel to Băile Tuşnad, in central Romania, an area with a majority Hungarian population, to deliver his traditional speech at the Summer University there. (EE)
