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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), ...

Twenty ministers files with PM Office to withdraw resignations

Friday, June 23, 2017

Governmental spokesperson Alina Petrescu said Thursday that 20 requests for the withdrawal of office resignations had been filed with the PM Office by ministers of the ousted Grindeanu Cabinet. She added that the requests lack a legal object, pointing to Law 90 concerning the organisation and operation of the Government. President Klaus Iohannis stated on Thursday in Brussels that the discussion on the Grindeanu Government ...

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 ...

DW Opinion: A theater of the absurd in Bucharest

Friday, June 23, 2017

* The governing coalition in Romania has ousted its own prime minister through a no-confidence vote. But the country's domestic political crisis is not likely to end anytime soon, writes DW's Robert Schwartz. Social democratic Prime Minister Sorin Grindeanu's small camp of loyalists could barely hide their embarrassment ...

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 ...

Euros trades at 4.5915 lei on Thursday

Friday, June 23, 2017

The exchange rate of the national leu currency resulting from the quotations announced on Thursday by the banks authorized to operate on the currency market is as follows: CURRENCY SYMBOL RON 1 Euro EUR 4.5915 1 US dollar USD 4.1096 1 Swiss franc CHF 4.2240 1 British pound GBP 5.2031 100 Japanese yen JPY 3.6998 1 Moldovan leu MDL 0.2254 1 Russian rouble RUB 0.0686 1 new ...

Romania sells 800 mln lei (174 mln euro) of 2019 T-notes, yield falls

Friday, June 23, 2017

Romania on Thursday  sold a planned 800 million lei ($195 million/174 million euro) worth of Treasury notes maturing on February 25, 2019, central bank data showed quoted by seenews.com. The average accepted yield was 1.18%, down from 1.36% achieved at the previous auction of government securities of the same issue held in May, the data indicated. Demand for the T-notes, which carry an annual coupon of 1.35%, rose to 1.75 ...

Reuters: Romanian 2018 gross funding needs seen at 62.6 billion lei

Friday, June 23, 2017

Romania may tap bonds worth 4 billion euros ($4.46 billion) from foreign markets in 2018 and 3.5 billion euros in 2019, while its gross funding needs are seen falling, the finance ministry's 2017-2019 debt management strategy paper showed on Thursday, Reuters correspondent reports It estimates gross funding needs at 62.6 billion lei ($15.25 billion) and 60.4 billion lei in 2018 and 2019, respectively, down from this year's ...

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 ...

Opposition: the ruling coalition of PSD and ALDE lost its parliamentary majority

Thursday, June 22, 2017

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- ...

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 ...

Special op officers of Romania, Slovakia and Poland are training in Miercurea Ciuc in operational tactics

Thursday, June 22, 2017

Approximately 40 special op officers of Romania, Slovakia and Poland are training in Miercurea Ciuc in operational tactics and techniques involving hostage taking and buildings overtaken by armed ...

Isarescu: By excessively stimulating consumption we actually finance abroad jobs

Thursday, June 22, 2017

The economy is slightly unbalanced and by overly stimulating consumption we are actually financing jobs abroad, stated on Wednesday Romania's National Bank Governor Mugur Isarescu, during a conference organised by the National Bank and the European Investment Bank. The Governor affirmed that there is a lending potential if structural reforms will render ...

Governor of BNR: The leu is not depreciating. It is where it should be

Thursday, June 22, 2017

Romanians are not a single case and they no longer have to believe that the leu will depreciate continuously, the exchange rate being the right one, Mugur Isarescu, the Governor of the Romanian National Bank (BNR), stated at a conference organized by the National Bank and the European Investment ...

Euro trades at 4.5987 lei on Wednesday

Thursday, June 22, 2017

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

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