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US Department of State: Investment Climate Statements for 2018 - Report on Romania

Monday, July 23, 2018

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The US Department of State has issued this Friday a report on the investment climate in Romania. There is the Executive Summary: Romania welcomes all forms of foreign investment. The government provides national treatment for foreign investors and does not differentiate treatment due to source of capital. Romania’s strategic location, membership in ...

The Economist: Laura Kovesi – sacked for being too good at her job

Monday, July 23, 2018

The Economist has posted on its website a feature that starts from the situation of former National Anticorruption Directorate (DNA) chief prosecutor, Laurea Codruta Kovesi and then makes a horizons tour on the state of justice in the region, romaniajournal.ro reads. “For Romania’s corrupt politicians, Laura Kovesi has been a nightmare. Appointed chief of the National Anticorruption Directorate (DNA) in 2013, the implacable prosecutor has ...

CCR to discuss on September 18 the referral by President Iohannis regarding the statute of judges and prosecutors

Monday, July 23, 2018

The Constitutional Court of Romania (CCR) will discuss, on September 18, the referral filed by President Klaus Iohannis regarding the amendments to the bill on the statute of judges and prosecutors. The head of state sent the notification on Thursday, claiming the unconstitutionality of the bill to amend the law no. 303/2004 on the statute of magistrates. *** President Klaus Iohannis on Friday signed the ...

The  chairman of ICCJ about amnesty and pardon: the effects are evident in the whole  society

Monday, July 23, 2018

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The chairman of the High Court of Cassation and Justice (ICCJ) Cristina Tarcea says about a possible emergency ordnance  regarding amnesty and pardon that such a normative act should be drawn up after ample sociological, criminological studies with the consultation of the criminal situations, with the exact establishment of crimes which would deserve to benefit from such clemency acts. ‘ I am wondering if  in a society which is so divided, so fragmented, of ...

EC: Romania should acknowledge professional qualifications

Monday, July 23, 2018

The European Commission pointed out on Thursday, that all EU countries, except for Lithuania, have delays in aligning national legislations to EU norms about acknowledging professional qualifications. The European Commission sent official letters about delays in aligning national laws and practices recognizing professional qualifications (EC Directives 36/2005 and 55/2013). The letters were sent to the 27 member states, Romania ...

The minister of defence from Portugal confirmed that he would sell another five fighters F-16 to Romania

Monday, July 23, 2018

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The minister of defence of Portugal confirmed officially that they would sell another five fighters F-16 to Romania and the government in Lisbon will acquire other aircraft from the US to replace  the latterones, announced on Thursday the Portuguese press agency Lusa. The confirmation came a few days after the minister of defence of Romania  Mihai Fifor confirmed that another five aircraft F-16 would be acquired from Portugal until the ...

Companies in insolvency and tenants with debts not included in fiscal amnesty

Monday, July 23, 2018

Companies in insolvency or persons with debts from rents cannot be legally submitted to amnesty, said Eugen Teodorovici, the finance minister at a press conference. “The law includes categories which cannot make the object of an amnesty. We will discuss publicly when we have a clear, coherent material with several alternatives,” the minister declared. Asked whether fiscal amnesty would encourage non payment, as those ...

Euro trades at 4.6562 Lei on Friday

Monday, July 23, 2018

The exchange rate of the national leu currency resulting from the quotations announced on Friday by the banks authorized to operate on the currency market is as follows:CURRENCY SYMBOL RON1 Euro EUR 4.65621 US dollar USD 3.99541 Swiss franc CHF 4.00191 British pound GBP 5.2019100 Japanese yen JPY 3.55341 Moldovan leu MDL 0.24091 Russian rouble RUB 0.06301 new Turkish lira TRY 0.8319 1 Chinese renminbi CNY ...

ROBOR back to 4y5m high on liquidity shortages

Monday, July 23, 2018

 Three month money market rate (ROBOR), the main indicator that sets the interest rates for RON currency borrowers, rose on Friday to 3.39 percent, equaling the record high of the last four years and five months. Experts say the current rise of money market rates are due to liquidity shortages. The 6-month ROBOR increased by 0.01 percentage point to hit a fresh 4 years and 4 months high of 3.50 percent. The ROBOR 3M ...

First quarter of 2018: Government debt slightly up to 86.8% of GDP in euro area; Down to 81.5% of GDP in EU28

Monday, July 23, 2018

At the end of the first quarter of 2018, the government debt to GDP ratio in the euro area (EA19) stood at 86.8%, compared with 86.7% at the end of the fourth quarter of 2017. In the EU28, the ratio decreased from 81.6% to 81.5%. Compared with the first quarter of 2017, the government debt to GDP ratio fell in both the euro area (from 89.2% to 86.8%) and the EU28 (from 83.6% to 81.5%). At the end of the first quarter of 2018, debt securities accounted ...

First quarter of 2018: Government deficit decreased to 0.1% of GDP in the euro area; Down to 0.5% of GDP in the EU28

Monday, July 23, 2018

In the first quarter of 2018, the seasonally adjusted general government deficit to GDP ratio stood at 0.1% in the euro area (EA19), a decrease compared with 0.6% in the fourth quarter of 2017. In the EU28, the deficit to GDP ratio stood at 0.5%, a decrease compared with 0.6% in the previous quarter. These data are released by Eurostat, the statistical office of the European Union. Government revenue and expenditure for the euro area and ...

Study: The Romanians are the most earnest supporters in Europe of the benefits of technology

Monday, July 23, 2018

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The technology simplifies life state 94% of the Romanians interviewed in a European study, conviction which places us much over the average of87% of the Europeans who share the same opinion. The majority of the Europeans admit that technology brings them numerous advantages and simplifies their life, even if there is a trend of the sceptics who  say that technology made their life more complicated according to the survey made by E.ON and Kantar ...

After running out of all possible appeals procedures, President Iohannis to promulgate Law 304/2004 on judicial organisation

Friday, July 20, 2018

President Klaus Iohannis said on Thursday that he had to promulgate Law 304/2004 on judicial organisation after having exhausted all appeals procedures, and asked Parliament to take up controversial justice legislation in its autumn session."It is clear that the justice legislation must be revised and improved urgently in Parliament. Romania is a full member of the EU and from such membership a series of obligations arise, including the functioning of justice, the ...

No politician should trade abandonment of principles that built democratic Romania to own benefits, Iohannis says

Friday, July 20, 2018

President Klaus Iohannis said on Thursday that no politician can and should trade the relinquishment of the principles which the democratic Romania was build on after 1989 to his/her own benefit. "No political decision-maker has a mandate from the Romanians to do such thing. The fact that someone or a party was elected to rule, it means that it had been elected to lead Romania for the Romanians and not for getting a political leader out of prison," Iohannis ...

Romania will take over, in partnership with Austria, the SUERD Secretariat / Danube Strategy Point

Friday, July 20, 2018

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Romania will take over, in partnership with Austria, the Secretariat of the EU Strategy for the Danube Region (EUSDR)/Danube Strategy Point for a three-year period, a release of the Foreign Affairs Ministry (MAE) sent on Thursday informs.According to the quoted source, Romania obtained on Wednesday, at the common meeting of the Monitoring Committee of the Danube Transnational Programme and national coordinators of the EUSDR member states, that was held in Split, ...

Head of AIPAC International Affairs Department Schneider welcomed by ForMin Melescanu

Friday, July 20, 2018

Romania's Foreign Minister Teodor Melescanu on Thursday welcomed Director of the International Affairs Department of the American Israel Public Affairs Committee (AIPAC) Stephen J. Schneider to reiterate that Romania is and will remain an ally of the United States of America, a strong supporter of the transatlantic relationship, and it will actively support dialogue between the US and the EU on all themes of shared interest.According to a press statement released ...

Austrian ambassador says Austria not out of BRUA gas pipeline

Friday, July 20, 2018

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Austrian ambassador to Romania Isabel Rauscher said in Bucharest on Thursday about statements by Hungary regarding the BRUA Bulgaria-Romania-Hungary-Austria gas pipeline that the letter "A" standing for Austria has not disappeared from the name of the project."As far as I know, 'A' from BRUA has not officially disappeared,' said Rauscher about statements made by Hungary, which would like to exclude Austria from the project.She talked about the current ...

Montenegrin Ambassador to Romania is Goran Poleksic

Friday, July 20, 2018

Minister of Foreign Affairs Teodor Melescanu welcomed Montenegrin Ambassador to Romania Goran Poleksic on Thursday, for the presentation of the copies of the letters of credence, and talked with him about the European path of the Western Balkan country, as well as its role in the North Atlantic Alliance.Minister Teodor Melescanu underlined the importance our country will give to the Western Balkans region during the presidency of the Council of the European Union ...

Eurostat: June 2018 Annual inflation up to 2.0% in the euro area; Stable at 2.0% in the EU

Friday, July 20, 2018

 Euro area annual inflation rate was 2.0% in June 2018, up from 1.9% in May 2018. A year earlier, the rate was 1.3%. European Union annual inflation was 2.0% in June 2018, stable compared with May 2018. A year earlier, the rate was 1.5%. These figures are published by Eurostat, the statistical office of the European Union. The lowest annual rates were registered in Ireland (0.7%), Greece (1.0%) and Denmark (1.1%). The highest annual rates ...

CNP: GDP growth projection down to 5.5 pct, raises inflation forecast figures

Friday, July 20, 2018

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The National Prognosis Commission (CNP) revised downwards to 5.5 pct its projection for GDP growth this year, from 6.1 pct in April.The economic forecast institution also revised upwards it year-end inflation estimate from 3.2 pct to 3.5 pct.According to the 2018 - 2022 Outlook of the Major Macroeconomic Indicators, GDP growth figures for the next three years remained unchanged at 5.7 pct in 2019 and 2020, and 5 pct in 2021. Year-end inflation figures ...

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