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President Iohannis to attend meeting of European Council in Brussels

Thursday, December 12, 2019

President Klaus Iohannis will participate in the meeting of the European Council in Brussels on Thursday and Friday. The meeting agenda includes topics regarding the future multiannual budget of the EU for 2021-2027, climate change, as well as the external relations of the Union.According to a Presidential Administration release, the head of state will also attend the Euro Summit meeting in an inclusive format, as well as the meeting of the Special European ...

President Iohannis withdraws decorations presented to several criminally convicted public persons

Thursday, December 12, 2019

President Klaus Iohannis on Wednesday signed the decrees for the withdrawal of the awards presented to several public persons, that were criminally sentenced, among whom the former Social-Democrat Premier Adrian Nastase, former Social-Democrat minister Miron Mitrea, professor Gheorghe Mencinicopschi, former minister and former Social-Democrat, Member of the European Parliament Adrian Severin, founder of the PUR (Romanian Humanist Party) turned into the Conservative Party and ...

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 ...

TransMin Bode: that current form of Mobility Packages 1 is unacceptable for Romania

Thursday, December 12, 2019

Minister of Transport, Infrastructure and Communications Lucian Bode argued in Brussels that the current form of the Mobility Package 1 is unacceptable for Romania and pointed out that its impact in the transport sector is worrying, given the problem of returning the vehicle creates additional costs and could impede the economic development of the transport operators.According to a press release of the relevant Ministry sent to AGERPRES on Wednesday, Lucian Bode ...

Senate: Early retirement of magistrates, postponed until January 1, 2022

Thursday, December 12, 2019

The Senate decided, in its plenary sitting on Wednesday, unanimously, with 81 votes "for", to postpone the term of entry into force of the early retirement of the magistrates until January 1, 2022, maintaining for the next two years the minimum seniority of 25 years.Also, the senators have decided to extend for January 1, 2021 the term from which the number of judges in the lower panels will increase from two to three.The two changes were made through ...

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 ...

FinMin Citu: S&P shows change of perspective, due to pro-cyclical fiscal policy irresponsibility of last 3 years

Thursday, December 12, 2019

The change in the perspective of the S&P rating is due to the irresponsibility of the pro-cyclical fiscal policy of the last three years, and this situation was reached because the previous Government ignored all the warning received from the rating agency since February, on Wednesday stated Public Finance Minister, Florin Citu.These comments come after rating agency Standard&Poor's announced that it has reconfirmed the rating of Romania's government debt ...

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 ...

BCR: the worsening of Romania’s perspective could lead to the postponement or even to giving up the decision to invest

Thursday, December 12, 2019

The worsening of the perspective of Romania’s perspective by the S&P agency from stable to negative could lead to the postponement or even giving up of decisions to invest in our country, according to the department of research of BCR.‘The S&P decision to revise Romania’s perspective to negative from stable will reflect most probably in the risk  premiums required by investors for their investments in Romanian assets. The worsening ...

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 ...

ArcelorMittal Hunedoara is suspending production, in reaction to market conditions and increased energy prices

Thursday, December 12, 2019

ArcelorMittal temporarily ceases production at the steel plant in Hunedoara, as a result of high prices for electricity and natural gas, informs a press release issued by the company sent on Wednesday.Plant production was suspended on December 1 2019. Structures, round billets and angles were produced here. The factory has 640 employees and 200 contractors."The prices for electricity and natural gas have increased significantly for industrial users in ...

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 ...

Three social-democrat MPs are investigated for several acts of corruption

Thursday, December 12, 2019

Three MPs representing the Social Democratic Party (PSD), namely Dorel Caprar, Florin Tripa and Ioan Chisalita, are investigated for several acts of corruption, including bribery and abuse of office, in a major case of bribery that also targets 12 other people. The case mainly focuses on bribes given to the Regional Roads and Bridges Directorate (DRPD) in Timisoara, but the investigation also revealed the political control over the county institutions, ...

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 ...

President Iohannis: I maintain my opinion - mayors should be elected in two rounds

Wednesday, December 11, 2019

President Klaus Iohannis reiterated his support for the election of mayors in two rounds and voiced the conviction that the representatives of the right-wing groups will find the best solutions regarding the candidacy for the Capital City Hall.Asked if the right-wing parties should have a single candidate for Bucharest City Hall, Iohannis appreciated that it would be a "long and complicated" discussion, but that "the best" solutions will be ...

US Ambassador Hans Klemm, decorated with Order "The Star of Romania" in rank of "Grand Cross"

Wednesday, December 11, 2019

President Klaus Iohannis granted the US Ambassador in Bucharest, Hans Klemm, the National Order "The Star of Romania" in the rank of "Grand Cross", the highest decoration of the Romanian state, during a ceremony held at the Cotroceni Presidential Palace.The president showed in his address that Hans Klemm is a "professional", with an "extraordinary contribution to the development of relations" between Romania and the United States of America."This is a ...

President Iohannis to withdraw all decorations presented to all convicted felons, including former PM Adrian Nastase

Wednesday, December 11, 2019

President Klaus Iohannis on Tuesday announced at the Cotroceni presidential Palace he is going to withdraw all the decorations presented to the persons with criminal sentences.When asked if he withdraws the decoration presented to former prime minister Adrian Nastase, Iohannis answered: "Yes, and I can say that I've decided to withdraw all the decorations presented to all those with criminal sentences and who fit the legal provisions that stipulate a withdrawal ...

PM Orban: After January 1, we will conduct audit of government structures

Wednesday, December 11, 2019

 Prime Minister Ludovic Orban announced on Tuesday that an audit of government structures will be conducted after January 1."After January 1, we will conduct an audit of the government structures, ministries, authorities, agencies, etc., because we want to operate a large restructuring, - because everyone is scared of restructuring -, a reduction in the number of entities, of merging or even dismantling, some of the activities to be carried out in partnership ...

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