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President to hold consultations Monday with parliamentary parties to designate new prime minister

Friday, June 23, 2017

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Romania's President Klaus Iohannis has sent on Thursday a letter to leaders of parties and groups represented in Parliament, inviting them to consultations early next week, at the Cotroceni Presidential Palace, in order to designate a candidate for the prime minister office. According to the Presidential Administration, on Monday, at 15:00hrs, representatives of the Social Democratic Party (PSD) and the Alliance of Liberals and Democrats (ALDE), ...

Orban (PNL): result of the no-confidence vote shows that ruling coalition has no absolute majority in the Parliament

Friday, June 23, 2017

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The result of the no-confidence vote shows that the Social Democratic Party (PSD) and Alliance of Liberals and Democrats (ALDE) ruling coalition has no absolute majority in the Parliament anymore, and this could allow the President to designate another candidate for Premier, the National Liberal Party (PNL)'s head, Ludovic Orban told the private B1TV on Wednesday night. "241 (the number of the MPs who have said Yes to the motion, ed. n.) means that the ...

MPF estimates budget deficit of 3.25% of GDP in 2017

Friday, June 23, 2017

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The Ministry of Public Finance (MFP) estimates budget deficit of central public administration at 3.25% of GDP in 2017, calculated based on cash data by applying EU methodology, according to the Administration strategy of government public debt for 2017-2019, posted on MPF website on Thursday. Economic growth is foreseen at 5.2% and nominal GDP of 816.5 billion lei. Current account deficit was estimated at 2,4% of GDO and inflation at 1.9% by the end ...

MPF: Foreign exchange reserve is 6.3 billion euros

Friday, June 23, 2017

The foreign currency reserve of the Ministry of Public Finance is about 6.3 billion euros and is laid at the disposal of the State Treasury to limit refinancing risks, the press release of the institution shows. The Ministry points out that the strategy of managing the government public debt was reviewed for 2017-2019 to be according to budget indicators included in the Fiscal-Budget Strategy on average term and completes the previous strategic ...

Financial experts’ warning: only 4 million euros came from EU in first quarter

Friday, June 23, 2017

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Only 4 million euros from structural European funds entered Romania from EU in the first three months, compared to 1.5 billion euros in quarter 1, 2016 and 1.5 billion euros in the first three months of 2015. All EU funds that entered Romania in the first quarter are 1.2 billion euros and 3.9 billion euros in the first four months of the year, according to general consolidated budget. The present government changed the ways of reporting and include ...

Stab (FIC): One of the present challenges is turning economic growth into sustainable development

Friday, June 23, 2017

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One of the present challenges is turning economic growth into sustainable development, says Eric Stab, the president of the Foreign Investors’ Council (FIC), at the forum “Romania 10 Years in EU. Progress, development prospects, challenges.” He showed that in many western cities there is the development of what is called “smart city”m but it is difficult to do that at the same time with managing current problems like those ...

SOUTH AFRICAN INVESTMENT IN ROMANIA

Friday, June 23, 2017

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According to Mr. Bethwell Tiba, the South Africa Embassy’s Charge d’Affaires, Trade and Investment between the two countries has to be increased. The Romania - South Africa Business Association (ROSABA) is helping our Embassy in exploring new areas of investment in the two countries. There are the most important South African companies activating în ...

Eurostat: Survivors’ benefits in the EU

Friday, June 23, 2017

Nearly €220 billion were spent in the European Union (EU) on survivors’ benefits in 2014. This represented almost 6% of the total spent on social benefits, a rate almost equivalent ...

Parliament passes censure motion

Thursday, June 22, 2017

At a joint plenary session on Wednesday, Parliament passed a censure motion called "Romania cannot be confiscated. We defend democracy and Romanians' vote," according to the Chamber of Deputy Secretary Ioana Bran. The motion passed 241 to 10, with all ballots being valid. President Klaus Iohannis was informed and took note of the outcome of the voting in Parliament on the censure motion, presidential Spokesperson Madalina ...

President Iohannis to attend European summit in Brussels, meet French counterpart Macron

Thursday, June 22, 2017

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Romania's President Klaus Iohannis will be attending, June 22-23, a meeting of the European Council in Brussels, on which side-lines he is scheduled to meet his French counterpart Emmanuel Macron, according to the Presidential Administration. "On the side-lines of the European Council summit, Romania's President, Mr Klaus Iohannis, will also meet France's ...

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