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ROMANIA - Strong growth ahead amid fiscal loosening and financial risks

Friday, February 5, 2016

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Driven by wage increases and fiscal relaxation, economic growth is forecast to peak in 2016 before moderating somewhat in 2017. Inflation is projected to accelerate as of mid-2016, partially driven by wage increases. Due to tax cuts and expenditure increases the fiscal deficit is set to increase substantially. New legal initiatives in the financial sector pose risks to the macroeconomic ...

Minister of State for Europe at the Federal Foreign Office of Germany, Michael Roth, in visit to Romania

Friday, February 5, 2016

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The Romanian chief diplomat, Lazar Comanescu on Thursday received the visiting Minister of State for Europe at the Federal Foreign Office of Germany, Michael Roth. According to a release of the Foreign Affairs Ministry (MAE), during talks the ...

Memorandum of Understanding on cooperation in the field of public administration signed by Romania and UK

Friday, February 5, 2016

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Deputy Prime Minister Vasile Dincu and UK Cabinet Office Minister Matthew Hancock signed on Thursday a Memorandum of Understanding on cooperation in the field of public administration, with the Romanian side being mainly interested in the means to restore the dignity of Romanian public ...

Lazea(BNR): GDP for 2015 and 2016 are doped by fiscal measures which will prove unsustainable

Friday, February 5, 2016

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Figures expressing the value of GDP for 2015 and 2016 are “doped”by fiscal and monetary measures which will prove unsustainable because they will lead to higher costs of public debt and implicitly to the decrease of budgets for vulnerable sectors, said Valentin Lazea, the chief economist of the Romanian National Bank. “I tend to believe that potential GDP is now 3% and not 5% because GDPs for 2015 and 2016 are doped by fiscal measures ...

Transports disaster: 3 billion lei unspent in 2015, while highways crumble

Friday, February 5, 2016

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The Ministry of Transports was, in 2015, the institution with the biggest non execution of budget - 3 billion lei not used- said Dragos Paslaru, councillor of the prime minister at the colloquium “Potential Economic Growth”. The consolidated budget had a deficit of 1.47% of GPD (10 billion lei) at the end of 2015. But the state spent in the last month of 2015, 2.2% of GDP (15 billion lei) in addition to December incomes, reaching an excess ...

The absorption rate of EU funds, 78.74pct for the period 2007-2013

Friday, February 5, 2016

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The absorption rate of EU funds is calculated at 78.74pct for the period 2007-2013, Minister of European Funds Aura Raducu stated on Thursday in a press conference. "At the end of 2015, the absorption rate, meaning the payments received from ...

First human death from SARS has been reported in Bucharest City

Friday, February 5, 2016

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The National Centre for Oversight and Control of Transmissible Diseases has reported the first swine fever human fatality this year in Romania, a man from Bucharest City (CNSCBT). "The ...

MAE hails the US decision to increase the budget for the European Reassurance Initiative (ERI) for 2017

Thursday, February 4, 2016

 The Romanian Foreign Affairs Ministry (MAE) hails the announcement by the United States of America of a fourfold increase of the budget for the European Reassurance Initiative (ERI) for 2017, as well as the determination to ensure a robust U.S. military presence in ...

Governemnt decides to suspend prison term cuts for inmates who write scientific works

Thursday, February 4, 2016

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 The Government decided in its Wednesday sitting to suspend until 1 September 2016 a legal provision that allows cutting the prison terms for inmates who write scientific works, Government spokesperson Dan Suciu announced. The rule drew criticism after anti-corruption prosecutors investigating ...

'Coalition for Family' gets 1.3 million signatures for constitutional ban of gay marriage

Thursday, February 4, 2016

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The Coalition for Family of 23 non-governmental organizations has gathered more than 1,350,000 signatures in favour of an amendment to Romania's Constitution, which would define the marriage as the consensual union of one man and one woman, it announced on Wednesday on its Facebook page. Mihai Gheorghiu, president of the Coalition's initiative committee, confirmed the ...

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