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Euro trades at 4.5583 lei on Tuesday

Wednesday, May 24, 2017

The exchange rate of the national leu currency resulting from the quotations announced on Tuesday by the banks authorized to operate on the currency market is as ...

Exporters’ and Importers’ Association: Devaluation of leu helped exporters but commercial deficit will grow

Wednesday, May 24, 2017

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Although exports have grown over expectations, the deficit of the balance of trade will increase because domestic output is low and does not cover demand, said Mihai Ionescu, general secretary of the Exporters’ and Importers’ Association of Romania -ANEIR. He showed that export have registered increases in almost all domains, but the deficit of the current account deficit will grow, as long as we do not have local ...

Ionut Dumitru: country's spectacular economic growth in the first quarter does not reflect into budget revenues

Wednesday, May 24, 2017

Romania's fiscal deficit might this year shoot past the cap set by the European Union because the country's spectacular economic growth in the first quarter does not reflect into budget revenues, Fiscal Council President Ionut Dumitru told Reuters in an interview on Monday. Romania registered the highest economic growth rate in the EU in Q1, with an advance of 5.7 pct compared to the same period of 2016, following the consumption boom fueled by wage hikes and ...

Lazea: Labour force, productivity and capital suffered losses in the post crisis period

Wednesday, May 24, 2017

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Romania cannot grow by 5% annually because labour force, productivity and capital suffered losses in the post-crisis period. Structural reforms are needed for such a growth rate, Valentin Lazea, Central bank's chief economist, declared on Tuesday at the 8th Conference on Credit Risk Management. “All three post-crisis factors suffered involutions. The capital factor, for instance, which has direct foreign investments as essential component... We ...

LAPAR: We don’t have labour force in agriculture because Romania grants social aid of 10 billion euros/year

Wednesday, May 24, 2017

Laurentiu Baciu, the president of the League of Farm Producers’ Association of Romania (LAPAR), declared on Tuesday that farmers in Romania no longer find work because people are encouraged by high social aid (10 billion euros/year) not to work and stay at home. The labour force crisis is one of the serious problems facing farmers at present, according to the farmers’ representatives. According to the head of LAPAR, ...

Barometer: Significant loss of industrial growth momentum this April

Wednesday, May 24, 2017

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Industrial growth this April considerably lost momentum in comparison with March, as most indicators dropped sharply and neared the average values over the past 30 months, shows Romania's Industry Barometer conducted by IRSOP and the Management Faculty of the National School of Political and Administrative Studies (SNSPA). "It is quite obvious that March was ...

Netflix launched Romanian language interface and subtitles for movies, series

Wednesday, May 24, 2017

Netflix launched on Tuesday a Romanian language interface, one year and a half after the service entered the local market, business-review.eu informs. Netflix says the Romanian public will usesubtitles and voice overs for thousands of hours of series and films,” including original Netflix original programs. The company announced that, in addition to adapting the content for the Romanian market, ...

European Semester 2017 Spring Package: Commission issues country-specific recommendations

Tuesday, May 23, 2017

* Member States should use the window of opportunity offered by the economic recovery to pursue structural reforms, boost investment and strengthen their public finances. Priorities vary across the EU but further efforts across the board are essential to achieve more inclusive, robust and sustainable growth. The European Commission Monday presents its 2017 country-specific recommendations (CSRs), setting ...

EC warns Romania on risk of missing budget gap target

Tuesday, May 23, 2017

The European Commission (EC) on Monday warned Romania that it may not meet its budget deficit target and urged the government to take action to avoid the opening of an excessive deficit procedure, seenews.com informs. "Based on 2016 outturn data validated by Eurostat and the Commission 2017 Spring Forecast, in 2016 Romania's structural balance deteriorated from a deficit of 0.6% of GDP (i.e. above the medium-term budgetary objective (MTO) of a ...

Iohannis about the warning of the European Commission: stability, not only economic but budgetary as well is very important

Tuesday, May 23, 2017

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President Klaus Iohannis stated on Monday in Brasov asked about the warning of the European Commission regarding the significant  imbalance in 2016 against the adjustment target for the medium-term budgetary objective of Romania, that stability, not only economic, but budgetary as well is extremely important and that the government is accountable to avoid economic imbalances. The European Commission sent, on Monday afternoon a warning with regard ...

At BSEC Summit, ForMin Melescanu highlights Romania's support for Moldova, Georgia, Ukraine European journey

Tuesday, May 23, 2017

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Foreign Minister Teodor Melescanu led Romania's delegation at the anniversary summit of the Black Sea Economic Cooperation Organisation (BSEC) in Istanbul on Monday. Romania's Foreign Affairs Ministry (MAE) says in a press statement that the summit, organised by Turkey, the holder of the BSEC Chairmanship-in-Office, commemorated the 25th anniversary of the Bosphorus Declaration at the first meeting of the Black Sea Economic Cooperation (BSEC) body that ...

Opinion poll "Public perceptions of and attitudes toward conflict of interest at central and local levels in Romania"

Tuesday, May 23, 2017

As many as 75 percent of Romanians believe their country is headed in the wrong directions, according to the findings of a national opinion poll called "Public perceptions of and attitudes toward conflict of interest at central and local levels in Romania," commissioned by the Institute for Public Polices (IPP) and released on Monday. According to the poll, just 20 percent of Romanians believe their country is headed in the right ...

Justice Minister Tudorel Toader to publish a list of those who have visited the SIPA's archives

Tuesday, May 23, 2017

 Justice Minister Tudorel Toader said Monday in Iasi that on Thursday he will publish a list of those who have visited the archives of the Internal Anti-Corruption Protection Service (SIPA). "This is, if you want, a ...

Central Bank's Isarescu: Never in 27 years have I witnessed a greater yet riskier macroeconomic situation

Tuesday, May 23, 2017

Governor of the National Bank of Romania Mugur Isarescu stated Monday that he has never witnessed in 27 years a better macroeconomic situation in Romania, but at the same time a riskier one, at the "Financial Market Forum" organised by the Romanian Banking Association. "In my rather-too-long career I have never ever witnessed, in 27 years, a better ...

Euro trades at 4.5600 lei on Monday

Tuesday, May 23, 2017

 The exchange rate of the national leu currency resulting from the quotations announced on Monday by the banks authorized to operate on the currency market is as follows: CURRENCY SYMBOL ...

The ministry of finances borrowed 500 million lei for two years, with a dropping interest of 1.36% per year

Tuesday, May 23, 2017

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The ministry of finances placed a state bond of 500 million lei( 109.6 million euro) with maturity on 25 February 2019 with an average yield at 1.36% per year, show the data published by the BNR. The banks which took part in the bid offered 1.42 billion lei, of almost three times over the announced value. The medium average yield obtained by the banks was 1.36% per year, and the maximum – 1.36% as ...

Elisabetta Capannelli (WB): Romania's European Values Changing Public Misinformed Opinions

Tuesday, May 23, 2017

Romania has transformed itself tremendously in the last 25 years, overcoming enormous challenges, says Elisabetta Capannelli, Country Manager for Romania and Hungary at the World Bank. She spoke to Andrew Wrobel for http://emerging-europe.com/ about the country’s potential and challenges it is facing. Romania is currently the fastest growing ...

Romania will reactivate the mixed  economic commission with Jordan: domains of interest: IT&C, transport, energy and tourism

Tuesday, May 23, 2017

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Romania will reactivate the mixed economic  commission with Jordan and will organise economic missions in this country, with relevance in IT&C, food industry, transport, energy and tourism, stated the minister for business environment, commerce and entrepreneurship Alexandru Petrescu, present at the economic forum for the Middle East and North Africa. ‘Romania’s participation to the Forum, through meetings and actions which we ...

The Smart City concept is not very clear at the moment, expert said

Tuesday, May 23, 2017

 Financial consultant Valentin Ionescu explained the lack of transparency of the "Smart City" concept while also ascertained that we live in the age of remote services, at the first edition of the "Smart Education & Training" conference on "Digital Age Education: Innovation Facilitators and Priorities. Are we ready to move on to the ...

In Washington, Secretary of State George Ciamba had a series of meetings with US administration officials

Monday, May 22, 2017

Secretary of State George Ciamba, on a visit to the US, had a series of meetings with US administration officials on the economic aspects of the Strategic Partnership with the United ...

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