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Annual inflation rate drops to 2.7pct in April 2020

Thursday, May 14, 2020

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Romania's annual inflation rate decreased to 2.7 percent in April 2020, from 3 percent in March, in the context of food stuff prices increasing by 5.72 percent, services by 3.06 percent and non-food goods by 0.53 percent, according to the data published by the National Institute of Statistics (INS) on Wednesday.In April 2020 compared to March 2020, consumer prices increased by 0.26 percent and against December 2019 the growth was of 1.42 ...

EBRD downgrades Romania's economic growth forecast in 2020

Thursday, May 14, 2020

The European Bank for Reconstruction and Development (EBRD) has downgraded its estimates of Romania's economic developments in 2020 as a result of the crisis caused by the coronavirus pandemic, according to the bank's latest Regional Economic Prospects published on Wednesday.According to the latest EBRD forecasts, the Romanian economy would decline 4% this year instead of advancing 3.2%, as forecasted by the bank in November 2019. In 2021, the EBRD expects a 4% ...

Industrial turnover, down 0.1pct, Q1 2020

Thursday, May 14, 2020

Romania's industrial turnover decreased by 0.1% in the first three months of 2020, y-o-y, as a result of the decrease of activities in the extractive industry, the data released by National Statistics Institute (INS) on Wednesday informs.According to the statistics, between 1 January and 21 March 2020, the extractive industry registered a decline of 19%, while the manufacturing industry increased by 0.6% compared to the first quarter of the previous ...

Industrial production down almost 6pct in Q1 of 2020

Thursday, May 14, 2020

In March 2020, industrial production decreased by 3.4% as gross series compared to the previous month and was down 12.4% as series adjusted by number of working days and seasonality. Compared to the same month of the previous year, industrial production fell by 12.7% as gross series and dropped 14.5% as series adjusted by number of working days and seasonality. In the ...

New orders in processing industry up 1.8% in Q1

Thursday, May 14, 2020

New orders in the processing industry increased in the first quarter by 1.8% compared to the same period in 2019, informs the National Institute of Statistics (INS) on Wednesday.The increase was due to the advance registered in the durable goods industry (+ 27.8%) and in the capital goods industry (+ 2.9%). Decreases were registered by the consumer goods industry (-2.2%) and the intermediate goods industry (-1.7%).According to the INS, new orders from ...

Eurostat: Italy, Slovakia, France, Romania post significant decline in industrial production in March in EU

Thursday, May 14, 2020

In March 2020, the COVID-19 containment measures widely introduced by Member States had a significant impact on industrial production, as the seasonally adjusted industrial production fell by 11.3% in the euro area and by 10.4% in the EU, compared with February 2020, according to estimates from Eurostat, the statistical office of the European Union, released on Wednesday.The highest increases in industrial production were reported in Ireland (+15.5%), Greece and ...

Iohannis: From May 15, wearing protection mask, keeping distance and hand hygiene - mandatory

Wednesday, May 13, 2020

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President Klaus Iohannis stated, on Tuesday, that from May 15, once the state of alert comes into force, the wearing of protection masks in closed spaces becomes mandatory, the maintaining of distance between people and hand hygiene are also mandatory."Unfortunately, the COVID-19 epidemic is still among us. It's not the time to relax too much. We are rapidly approaching the number of 1,000 fatalities. We still have hundreds of new cases every day. Still the date ...

Senate amends draft measures for state of alert as Parliament approves state of alert nationwide

Wednesday, May 13, 2020

The Senate on Tuesday passed a bill from the government that includes measures for the state of alert that will replace the coronavirus state of emergency in Romania, after amending it in a plenary session, so that Parliament may approve the state of alert nationwide.The bill, which received a positive report with amendments from the Judiciary Committee, was adopted 111 to 8 and 15 abstentions. The amended bill is due to enter the debate of ...

Romania hits 1,002 deaths due to COVID-19

Wednesday, May 13, 2020

Another 11 people infected with the novel coronavirus have died, the number of the dead reaching 1,002, informs the Strategic Communication Group on Tuesday.The latest deceased are six women and five men between the ages of 59 and 87, from Suceava, Hunedoara, Brasov, Neamt, Ilfov, Bacau counties and from Bucharest. All the deceased had comorbidities. A number of 190 new cases of persons infected with the novel coronavirus have been ...

Simple motion against FinMin Citu to be voted in the plenary meeting on Wednesday

Wednesday, May 13, 2020

The Chamber of Deputies will vote on Wednesday the simple motion tabled by the Social Democratic Party (PSD) against Finance Minister Florin Citu.The simple motion, called "The Citu virus has infected the national economy," was debated on Monday in the plenary session of the Chamber.Mortgaging the country's finances must stop, Romania must be saved from the "Vasile Citu virus," and the Minister of Finance must leave, reads the motion."More ...

Simple motion against Agriculture minister lodged by PSD, in Senate

Wednesday, May 13, 2020

A simple motion on Agriculture, dubbed "Minister Oros' laziness, lying and incompetence" was lodged on Tuesday in the Romanian Senate by the Social Democratic Party (PSD), announced the leader of the PSD parliamentary group, Radu Preda, in the plenary session of the Senate.Acting President of the Senate Robert Cazanciuc proposed that the motion be debated next Monday, starting at 4:00 ...

Minister Aurescu talks about strengthening Three Seas Initiative at meeting preparing summit in Estonia

Wednesday, May 13, 2020

Minister of Foreign Affairs Bogdan Aurescu participated on Tuesday, by video conferencing system, in the opening of the preparatory meeting (Sherpa format) of the 5th Summit of the Three Seas Initiative (3SI), which will be hosted by Estonia in October.Bogdan Aurescu stressed that "including in the context of the current global situation, marked by the pandemic with the new coronavirus, and the related economic challenges, the Three Seas Initiative (3SI) is a ...

CFA Romania expecting strong COVID-19 economic impact in Q1 2021

Wednesday, May 13, 2020

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More than a third of CFA Romania analysts are expecting the economic impact of coronavirus to be felt strongly in Romania by Q1 2021, anticipating a government deficit of 7.8%."In the April 2020 survey, four additional questions were added regarding: the economic impact of coronavirus, with the majority of respondents (37.2%) anticipating that it will be strongly felt by the first quarter of 2021; the government deficit anticipated for 2020: the average value of ...

Many industries in Romania have low recovery prospects because of Covid 19 pandemic

Wednesday, May 13, 2020

A quarter of companies in Romania (25%) estimated at the beginning of the year that they would have a business figure increase up to 20% in 2020. Once the coronavirus pandemic appeared, with two months of emergency state, many industries have low recovery prospects, says Gabriela Streza, business development director at Valoria Solutions consulting company. “The year 2020 began with optimistic prospects for business in Romania. The results of ...

IRSOP Poll: The economic situation of households – in distress

Wednesday, May 13, 2020

The latest IRSOP poll conducted during May 6-9 says that the income available per household has “vanished” in Romania during this period, while savings have been also on decline, which means that households are facing melting cash and those strapped will refrain from buying goods and service in the near future. The survey also shows that people are in no rush to increase the individual consumption in the upcoming three months. More than ...

BestJobs: Two out of three Romanian employees succeeded to save money in the last two months

Wednesday, May 13, 2020

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Two out of three Romanian employees (63%) say they succeeded to save money in the last two months, while most of them do not intend to give up this custom after May 15, according to an opinion poll made by BestJobs recruiting company. The emergency state caught the other 37% of people interviewed without any money savings, a situation which has not changed in the meantime. The perspective of recession generated by the present ...

Eurostat: Czech Republic and Romania had lowest percentage of precarious jobs in 2019

Wednesday, May 13, 2020

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In 2019, 2.3% of employees in the European Union (EU) aged 20-64 had a precarious job, meaning that their work contract did not exceed three months’ ...

Average net nominal monthly earnings in March 2020 increase by 92 lei to 3,294 lei

Wednesday, May 13, 2020

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In March 2020, the average gross nominal earnings were 5386 lei, with 143 lei (+2.7%) higher than the one registered in February 2020. The average net nominal earnings were 3294 lei, increasing as against the previous month with 92 lei (+2.9%). The highest values of the average net nominal earnings were recorded in computer programming, consultancy and related ...

PM Orban: Thursday we adopt by emergency ordinance the measures we extend during the state of alert

Tuesday, May 12, 2020

Prime minister Ludovic Orban said Monday in Curtea de Arges (northwest of Bucharest) that an emergency ordinance will be adopted on Thursday to determine the measures that will be extended from the state of emergency period to that of the state of alert."As regards the right of a parent to stay with their child, it will be valid until the beginning of the school summer holiday. (...) It will be the subject of the emergency ordinance, that we will also endorse on ...

HealthMin Tataru worries relaxation: danger of infection just as great

Tuesday, May 12, 2020

Health Minister Nelu Tataru says that he is worried about the moment of coronavirus lockdown being eased because the danger of infection is just as great, "and maybe greater in the first days after relaxation.""I am concerned about the moment of relaxation, the moment when we will have a resumption of the inflow of people from one area to another, an interaction and maybe a resurgence of local transmission. But I still remain optimistic given that I consider that ...

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