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DefMin Ciuca, German ambassador Meier-Klodt - military cooperation on the agenda of the meeting

Thursday, December 12, 2019

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The military cooperation between Romania and Germany was on the agenda of the talks between the Romanian Defence Minister Nicolae Ciuca and the German ambassador in Bucharest, Cord Meier-Klodt, at the ministry's Hqs., a release by the ministry reads.The two dignitaries addressed the military cooperation in both bilateral and multinational format, within the NATO and the EU, as well as within the UN peace-keeping missions.The agenda also included the ...

Standard & Poor's changed Romania's rating from stable to negative

Thursday, December 12, 2019

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Standard & Poor's changed Romania's rating from stable to negative, because of the increase in the country's deficit and confirmed the rating at "BBB-/A-3" for the long-term and short-term debt in foreign and national currency, reads a press release of this financial assessment agency."The negative change reflects the risks that Romania is facing in terms of economic and fiscal stability, unless the authorities manage to stabilize and strengthen the budgetary ...

Nicolescu (Deloitte): I think that Standard&Poor’s was a bit hurried: surely there will not be positive effects

Thursday, December 12, 2019

The Standard&Poor’s decision on Wednesday to worsen the perspective of the rating of Romania from stable to negative was a bit too hurried and surely it will not have positive effects, stated for Agerpres Razvan Nicolescu, partner in the  consultancy company Deloitte.‘It is not good news for our economy. Although there are worrying signs, I think that those in S&P acted a bit thoughtlessly, probably taking more seriously than it was needed ...

UniCredit: the worsening of the perspective of Romania’s rating by S&P could affect the exchange rate

Thursday, December 12, 2019

The decision of Standard&Poor to worsen the perspective of Romania’s rating from stable to negative, due to the increase of the fiscal deficit and that of current account, could put pressure on the exchange rate and the yields of governmental bonds, as during the following days there could be possible sales of assets, appreciated on Wednesday the research division of UniCredit.The ministry of public finances (MFP) published on Tuesday night the draft law ...

Annual inflation rate, up to 3.8pct in November

Thursday, December 12, 2019

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The annual inflation rate rose to 3.8pct in November this year, from 3.4pct in October, when foodstuffs increased by 4.9pct, the non-food goods by 2.83pct, and the price of services registered an advance of 4.19pct, according to the data published by the National Institute of Statistics (INS) on Wednesday."Consumer prices in November 2019 compared to November 2018 increased by 3.8pct. The annual rate calculated on the basis of the harmonized index of consumer ...

MFP foresees for the next year a budget deficit of 3.6pct and 3.34pct for 2021

Thursday, December 12, 2019

The Ministry of Public Finance (MFP) published, on Tuesday evening, the draft law for approving the ceilings of some indicators specified in the fiscal-budgetary framework for 2020, which foresees for the next year a budget deficit of 3.6pct and 3.34pct for 2021. At the same time, the ceiling for public debt is set at 45pct of the Gross Domestic Product (GDP).  The 2020 budget is ready, it was built on the legislation and taxes in force, and I ...

The market of mineral waters of Romania is worth one billion euro at present

Thursday, December 12, 2019

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The market of mineral waters of Romania  is worth, at present, one billion euro, while at world level business in this industry will increase over the next three years up to 174 billion euro, stated on Wednesday Jean Valvis, chairman of Valvis Holding, in a conference. According to him, the sector is worth getting state aid.‘Romania is the country of mineral waters and the sector is worth addressing the parliament and the government, the competition ...

Pre-accelerator programme for start-ups in clean energy InnoEnergy PRIMER of EC to start in Bucharest in January

Thursday, December 12, 2019

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The start-ups which develop products or services in the areas of clean energy, smart city, mobility, smart electric grids, nuclear instrumentation will be able to participate in January 2020 in Bucharest and in February in Brasov in the InnoEnergy PRIMER, a pre-accelerator programme of InnoEnergy, a European Commission initiative.According to a press release of InnoEnergy Romania, the main objective of this programme is to support innovative people in developing ...

Official says investors call for re-consideration of classified info on mineral and oil resources

Thursday, December 12, 2019

Romania's government would push for a re-consideration of categories of classified information regarding mineral, oil and gas resources. This comes at the request of investors in these sectors, which was made during working sessions with representatives of the government, a top government official said .Ionel Danca, head of the chancellery, said that players in mining, gas and oil sectors have complained about difficulties in attracting investment due to the ...

Culture minister announces start of Museum of Communist Horrors project

Thursday, December 12, 2019

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An inter-institutional working group will be formed this week with the purpose of starting the project of the Museum of Communist Horrors in Romania (Muzeul Ororilor Comunismului in Romania), culture minister Bogdan Gheorghiu announced on Tuesday, December 10. “I am glad that in 2019, 30 years after the Revolution, the Ministry of Culture is launching two important projects. The future National Museum of ...

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