Massive NATO Base Construction Begins in Romania
Construction has commenced on what is poised to become Europe's largest NATO base in Romania, with a reported construction cost of €2.5 billion, as highlighted by Euronews
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
The grey economy in Romania amounted to 28.4% of the GDP in 2013, down from the rate of 30% of GDP registered in 2011, according to the Council of Europe's anti-money laundering Committee (MONEYVAL).
According to a report of the Committee of Experts on the Evaluation of Anti-Money Laundering Measures (MONEYVAL), Romania's grey economy in 2011 resulted in losses of EUR 40 B for the country, and the amount remained the same in 2013 due to the growth in the GDP rate.
According to the report, in 2012 the number of cases of economic abuse was 41 280 compared to 39 124 in 2011 and 34 730 in 2008, according to the report, as cited by the Bulgarian Telegraph Agency.
Meanwhile, the number of tax fraud cases doubled in 2012 as compared to 2008, climbing from 12 579 to 25 586.
Romania suffers damage worth around EUR 400 M a year from cigarette smuggling, according to MONEYVAL.
The number of people charged with smuggling in 2012 increased by 184% from 2007 to 879 people.
The experts from the Council of Europe point out that Romania improved its legal framework and its ability to freeze, seize and confiscate proceeds of crime.
However, the country's law enforcement authorities need to conduct parallel financial investigations proactively alongside the investigation of proceeds-generating crimes, according to the Council of Europe.
According to the report, Romania reported an increase in the number of investigations, prosecutions and convictions of money laundering cases.
However, MONEYVAL has several concerns regarding the effectiveness and consistency of the anti-money laundering and terrorist financing supervision, and of the application of sanctions for non-compliance with the relevant requirements by the relevant supervisory authorities.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
In February 2024, the euro area witnessed a decline in its annual inflation rate, dropping to 2.6% from January's 2.8%
Amid the ongoing war between Russia and Ukraine, the Kremlin has put forward the idea of establishing a "buffer zone" on Ukrainian-controlled territory, a move aimed at safeguarding Russian regions from potential attacks
Cerstin Gammelin, spokeswoman for the German president, conveyed that Frank-Walter Steinmeier will abstain from extending congratulations to Russian President Vladimir Putin for his victory in the perceived fraudulent elections
Spanish newspaper El Pais has reported that NATO servicemen are already stationed in Ukraine, overseeing weapon deliveries, conducting intelligence operations, and providing training to the Ukrainian military
In the oil market, the upward trend continues at the beginning of the new week, with prices rising to nearly 5-month highs due to increasing geopolitical risks related to supply disruptions
In a resolute stance against the recent Russian presidential elections held in the occupied Ukrainian regions, the European Union has officially declared its non-recognition of the process
Norwegian Inspiration: Bulgaria's Move Towards Environmentally Friendly Prisons
Nexo Is Suing Bulgaria For Over $3 Billion