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The first Romania - Poland intergovernmental consultations start today in Warsaw

Friday, May 25, 2018

Premier Viorica Dancila announced that Romania and Poland will hold a session of intergovernmental consultations in Warsaw on May 25, the first ever in the history of the countries' bilateral relationship."Right after the government sitting, I will take off for Warsaw this afternoon, alongside several ministers, for the first Romania - Poland intergovernmental consultations in the history of the countries' bilateral relationship due on May 25. The consultations ...

ForMin Mele?canu is against unseal of memorandum on embassy relocation to Jerusalem

Friday, May 25, 2018

 Foreign Minister Teodor Melescanu has stated after talking to PSD chairman Liviu Dragnea on Thursday that he doesn’t support unseal of the memorandum adopted by the Government on relocating Romania’s embassy in Israel to Jerusalem, as the PSD chairman has proposed in the party’s meeting, romaniajournal.ro informs. „We haven’t discussed that issue. ...

Iohannis: the motorway shortage is equally denounced by the business milieu and the citizens

Friday, May 25, 2018

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The development of the infrastructure is the most secure way to enhance the convergence of the country's regions, however, infrastructure has only been a lip service priority in the government programmes, on Thursday said president Klaus Iohannis, on a working visit in the Arges County."I welcome you, the most important actors with the automotive industry in Romania, to focus on the Romanian IT sector and in general on the creative industries' potential, those ...

Gov't adopted emergency ordinance on public procurement and decision on strategic projects

Friday, May 25, 2018

The Government adopted on Thursday an Emergency Ordinance (OUG) on public procurement and a decision on the approval of the first list of strategic investments projects to be implemented under a public-private partnership, Spokesman for the Gov't Nelu Barbu announced."In today's Government sitting, several normative acts were adopted regarding public procurement and investments. (...) Firstly, I refer to an emergency ordinance on the modification and ...

Iohannis: Government authorities need to understand foreign investors must not be regarded with adversity

Friday, May 25, 2018

President Klaus Iohannis said Thursday, in Pitesti (North-West of Bucharest) that the Executive needs to make all efforts in order to bring foreign companies to Romania."Government authorities need to understand once and for all that foreign investors must not be regarded with adversity, but on the contrary. The Executive should make all efforts in order to bring new high-performing foreign companies in Romania, especially in sectors where we have remarkable ...

Former PM Petre Roman is charged for crimes against humanity within the 'Revolution' case

Friday, May 25, 2018

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The Prosecutors of the Military Prosecutor's Office Section of the Prosecutor's Office attached to the High Court of Cassation and Justice (PICCJ) have ordered the extension and further prosecution of former PM Petre Roman over charges for crimes against humanity within the 'Revolution' case."In the case generically known as the" Revolution" case, military prosecutors of the Military Prosecutor's Office Section with the Prosecutor's Office attached to the High ...

Romania’s business associations demand the government to maintain private pensions

Friday, May 25, 2018

The Coalition for the Development of Romania (CDR), a major business association, demands that the government maintains the three pension pillars, including mandatory pension funds (Pillar II) and voluntary pension funds (Pillar III), and urges the authorities to raise the social contributions transfers to the Pillar II to 6 percent of the gross income, http://business-review.eu ...

KPMG: Pensioner-to-worker ratio at 1.74 in 2050, private pension a must due to falling old-age support rate

Friday, May 25, 2018

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Romania's pensioner-to-worker ratio will reach 1.74 in 2050, in a surge from 0.3 in 1990, shows a KPMG survey presented on Thursday at a press conference by Tudor Grecu, KPMG audit & assurance partner."In Q1 2018 we worked out a survey that extensively deals with the importance and benefits of life insurance and private pension schemes to the society and the individual. Speaking of pension Pillar II, the survey shows that such a system is a necessity. More ...

Euro trades at 4.6243 lei on Thursday

Friday, May 25, 2018

The exchange rate of the national leu currency resulting from the quotations announced on Thursday by the banks authorised to operate on the currency market is as follows:CURRENCY SYMBOL RON1 Euro EUR 4.62431 US dollar USD 3.94311 Swiss franc CHF 3.97791 British pound GBP 5.2825100 Japanese yen JPY 3.5928 1 Moldovan leu MDL 0.23521 Russian rouble RUB 0.06421 new Turkish lira TRY 0.84001 Chinese renminbi ...

Three-month ROBOR, up to 2.79 percent

Friday, May 25, 2018

 Romania's three-month interbank offered rate ROBOR, which serves as benchmark for floating-rate loans in lei, has continued to rise on the inter-bank market, reaching 2.79 percent per year on Thursday, from 2.77 as recorded the day before, according to data of the National Bank of Romania (BNR).The indicator had hit a higher level on 14 October, 2014, of 2.89 percent per year, respectively.According to central bank data, early this year the three-month ...

Romania sells planned 200 mln lei (43 mln euro) of 2031 T-notes

Friday, May 25, 2018

Romania on Thursday sold a planned 200 million lei ($51 million/43 million euro) of Treasury notes maturing on September 24, 2031, central bank data showed quoted by seenews.com. The average accepted yield was 5.15%, while demand stood at 315.1 million lei, the data indicated. At the last auction of the bonds in March, the finance ministry rejected all bids. The issue will be reopened on Friday when the ...

288.02 million euros have entered Romania's coffers as reimbursements of EAFRD payments

Friday, May 25, 2018

Prime Minister Viorica Dancila said on Thursday that 288.02 million euros have entered Romania's coffers as reimbursements of payments related to the European Agricultural Fund for Rural Development (EAFRD).She added that Romania reached 17pct in the absorption of European funds, approaching the European average of 18pct."There is more good news: on May 22, 2018, 288.02 million euros were payed into the national accounts of Romania, representing the ...

Hajdinjak (E.ON): Romania, no longer as stable economically, but still see growth potential

Friday, May 25, 2018

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 Romania's macro-economic situation is no longer as stable as in the past years, but there are still growth prospects, on condition that budget balance be maintained, Frank Hajdinjak, E.ON Romania Executive Director told Thursday a press conference organised by the company."Inflation is on the rise and we must keep an eye on the state budget so that spending does not rise beyond what has been planned, we must keep the deficit under control. The situation is ...

Industrial Barometer: Powerful March growth of Romanian industry not sustained in April

Friday, May 25, 2018

Romanian industry grew in April too, but the powerful March advance could not be sustained and the volatility of the first four months of the year raise question marks, according to the monthly industrial barometer made by IRSOP and SNSPA and released on Thursday. An index based on the net ratio between answers signals expansion if it is over 50 points and contraction if it goes under 50. “Almost all indicators measured by the barometer ...

GfK: Romania posted the greatest gain in purchasing power in EU last year, but from low base

Friday, May 25, 2018

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The purchasing power of Romanians increased by 7.8 percent in 2017, the highest growth rate among the European Union member states, but remains low compared with more advanced countries, with EUR 4,556 per inhabitant, acording to a study released on Thursday by GfK quoted by http://business-review.eu. GfK’s indicator for purchasing power corresponds to the population’s disposable net ...

European Semester 2018 Spring Package: Commission issues recommendations for Member States to achieve sustainable, inclusive and long-term growth

Thursday, May 24, 2018

Brussels, 23 May 2018 The European Commission presents today the 2018 country-specific recommendations (CSRs), setting out its economic policy guidance for Member States for the next 12 to 18 months. Europe's economy is growing at its fastest pace in a decade, with record employment, recovering investment and improved public finances. According to the ...

EC 2018 spring forecast projected for Romania a public deficit of 3.4 percent and 3.8 percent of GDP for 2018 and 2019

Thursday, May 24, 2018

The European Commission issued a warning to Romania on Wednesday for significant deviation from the adjustment path toward the medium-term budgetary objective, estimating a risk of a deviation from that recommendation in 2018, and recommends the government to take the necessary measures to limit the growth rate of expenditure. “The Council also adopted a subsequent recommendation confirming the need for Romania to take the necessary measures to ...

FinMin Teodorovici reiterates   that the contribution to pillar 2 for pensions will not be suspended

Thursday, May 24, 2018

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The minister of finances, Eugen Teodorovici reiterated on Wednesday the fact that the contribution to pillar II for pensions will not be suspended but following the discussions with the factors involved, at the end of June – the beginning of July a new project in the domain will be presented.In support for his statements,  Teodorovici spoke about the statements of prime-minister Viorica Dancila.‘A left party will never put in balance ...

DNA's Kovesi delivered a speech at the UN headquarters in New York about the independence of judges and prosecutors în Romania

Thursday, May 24, 2018

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Chief Prosecutor of Romania's National Anticorruption Directorate (DNA) Laura Codruta Kovesi stated on Wednesday, in a speech that she delivered at the United Nations headquarters in New York, that the greatest challenge for Romania is maintaining the independence of judges and prosecutors."There have been repeated attempts to amend the anticorruption legislation in order to limit the legislative instruments used by the anti-graft prosecutors or the ...

Ambassador Ion Jinga, presented in the UN Security Council Romania’s efforts regarding the protection of civilians in armed conflicts

Thursday, May 24, 2018

On 22 May 2018, the Permanent Representative of Romania to the UN, Ambassador Ion Jinga, delivered a statement in the Security Council within the open debate organized by the Polish Presidency of the Council, in the presence of the Minister of Foreign Affairs of Poland, Mr. Jacek Czaputowicz, on the topic of “Protection of Civilians in Armed Conflict”. Recalling the international ...

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