11.11.2011

Officials with Nokia Romania said Friday they are working with authorities to analyze the situation and reach a satisfying outcome after the tax authority impounded its assets over a $10 million debt more

11.11.2011

Finnish mobile giant Nokia breached legislation by requiring tax exemptions for imports of electronic parts although the products were already assembled and came from outside the EU from countries more

11.11.2011

Romania’s tax authority ANAF impounded Nokia’s assets in Jucu, northwestern Romania, for a $10 million debt the Finnish mobile giant has amassed in unpaid custom taxes, ANAF chief Sorin Blejnar more

11.10.2011

More than half of Romanians (56%) say they barely manage to cover their current expenses and almost a quarter (24%) say they are in debt, according to a study by GfK Romania, which points out that more

11.09.2011

Romanians should be aware that they are responsible for some of the country’s foreign debt of EUR90 billion, central bank governor Mugur Isarescu said Wednesday. more

10.31.2011

The Romanian Senate's leadership on Monday took note of a letter reporting the existence of a German historic debt to Romania and a special committee will be set up to analyze the issue, said Senate more

10.31.2011

Romania’s public debt rose to 207.57 billion lei (EUR48 billion) in August, from RON204.63 billion a month earlier, Finance Ministry data showed Monday. more

10.31.2011

From 2005 until 2010 Greece’s public debt as a percentage of GDP grew from 100% to 150%. In less than a year, the debt went up by a further ten percent, and is currently at 160% of GDP, which more

10.28.2011

Romania’s Government has assigned an extra 315 million lei (EUR73 million) to local authorities in 36 localities to help them pay off debts to heat suppliers, the Governments aid in a press release. more

10.25.2011

Romania pays similar interest rates on its sovereign bonds as Spain and is perceived as less risky than Italy or Hungary, but trades outside neighbor Bulgaria. more

10.25.2011

The government’s interest spending, which has tripled in the last three years, will continue to rise, making it into an important risk factor for fiscal control. Payment obligations will increase more

10.18.2011

A typical debtor to a bank is male, aged 30 to 34 years, lives in Bucharest and holds a loan in lei, according to data from the Credit Bureau, the institution that collections information on loans to more

10.11.2011

The flawed state management translates into losses of EUR1.3 billion each month (EUR18 billion per year) as Romania lacks three main abilities: the skill to attract EUR400 million that it should take more

10.10.2011

Second tier banks, which used to deal with non-performing loans on their own, are now selling their receivables to specialized debt collectors so as to be able to move employees handling collection to more

10.05.2011

Romania’s funding needs will remain high next year, as UniCredit analysts estimate it will reach EUR22.4 billion, EUR5.7 billion (34%) higher than this year. more

10.04.2011

The Government has enabled fiscal watchdog ANAF to take over assets from mining company CNH and stock from state-owned companies CFR and Termoelectrica, in a bid to reduce the debts owed by these more

10.04.2011

Romania must balance its fiscal policy better and put a constitutional cap on the public debt, a central bank official said Tuesday. more

09.08.2011

Romanian state-owned mining company SNLO has a debt of 300 million lei (around EUR71 million) to suppliers and to the state budget, while receivables reach RON500 million, general manager Daniel more

08.31.2011

Romania’s public debt rose to 214.02 billion lei (EUR50.7 billion) in June, from roughly RON201 billion a month earlier, Finance Ministry data showed Wednesday. more

08.17.2011

The Romanian government asked state-owned chemical company Oltchim (OLT.RO) to agree with privatization authority AVAS on an interest rate for the EUR134 million it owes as state aid refund. more

08.16.2011

The Romanian government doubled its short-term external debt in the first half of the year to over EUR3 billion, triple compared to last summer, while banks’ indebtedness rose by just EUR360 million more

08.10.2011

Romanian state-owned coal mining company CNH’s total debt to the government budget widened 13% to 4.67 billion lei (EUR1.1 billion) in the first half of 2011, the country’s fiscal authority ANAF more

08.05.2011

Romanian Transport Minister Anca Boagiu Friday lashed out at power companies, accusing them of overcharging the state-run rail company CFR SA, whose total electricity bill has reached 1.98 billion lei more

08.02.2011

Romania’s public debt rose to 200.6 billion lei (EUR47.3 billion) in May, from roughly RON195.5 billion a month earlier, Finance Ministry data showed Tuesday. more

07.28.2011

The Romanian government decided to pull investment fund Fondul Proprietatea (FP.RO) from a list of 26 beneficiaries of $977 million from Iraq’s outstanding debt to the state, citing procedural more