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Adrian Vasilescu: what is happening now with the leu is that we imported very much

Monday, January 28, 2019

Adrian Vasilescu, strategy adviser of the National Bank of Romania (BNR) stated on Saturday morning that the present depreciation of the leu has among the causes the very big imports. ‘Foreign currency is a limited resource against our unlimited desires.(…) In order to get foreign currency we exchange lei. This is the problem. (…) What is happening now is that we had very many imports (..) When we draw the line for 2018, Romania ...

BNR holds being permanently involved in developing and enforcing monetary and exchange rate policies

Monday, January 28, 2019

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The National Bank of Romania (BNR) is permanently involved, all the more so these days, in the development and implementation of the monetary policy and the exchange rate policy, in the circumstances determined by internal and international factors, BNR representatives assert in a release sent on Friday.The Central bank's reaction follows a statement issued by the Ministry of Public Finance regarding the recent exchange rate developments, stating that "BNR is the ...

UDMR : Great irresponsibility for Gov't not to have tabled budget plan

Monday, January 28, 2019

Chairman of the Hungarian Democratic Union of Romania (UDMR) Kelemen Hunor stated on Friday in the Council of Union Representatives (CRU) in Targu Mures that he deems irresponsible the fact that Romania's Government has not yet presented the budget draft, adding that the adoption of Government Emergency Ordinance (OUG) No. 114/2018 was "a bad decision."He specified that it seems that no extraordinary session of Parliament will be convened this month to debate the ...

Outstanding loans in lei down 4.31pct; debts on foreign currency loans up 0.4pct in December 2018

Monday, January 28, 2019

 In December 2018, the total outstanding loans in lei of the population and companies stood at 4.49 billion lei, declining by 4.31 percent compared to the amount recorded in November 2018, while the debts on foreign currency loans increased by 0.4 percent to 3.06 billion lei (equivalent), according to a report of the National Bank of Romania (BNR).In December, total lei loans reached 165.86 billion lei (0.66 percent more than in the previous month), of which ...

Deposits of non-government resident clients up 9pct in 2018

Monday, January 28, 2019

 On 31 December 2018, the deposits of non-governmental resident clients grew by 9% (5.5% in real terms) compared to 31 December 2017, a release of the National Bank of Romania (BNR) sent on Friday informs.Deposits of non-governmental clients grew by 1.6% in December 2018 compared to November 2018 to 329.673 billion lei.According to the BNR, RON-denominated deposits of households increased by 1.5% to 120.415 billion lei. On 31 December 2018, ...

Balance of the non-government loans up 7.9pct in 2018; credit in lei up by 13.4pct

Monday, January 28, 2019

On 31 December 2018, the balance of the non-government loans recorded an increase of 7.9 percent (4.5 percent in real terms) compared to the one recorded on 31 December 2017, due to an increase by 13.4 of the component in lei (9.8 percent in real terms) and the decrease by 1.3 percent of the component in foreign currency expressed in lei (expressed in euro, the loans in foreign currency decreased by 1.4 percent)," a release of the National Bank of Romania (BNR release) sent ...

President Iohannis on the celebration of the Romanian Principalities Union Day

Friday, January 25, 2019

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President Klaus Iohannis stated on Thursday that the example of the elites and their action in 1859 show that "in difficult times, the true statesmen should rise to the height of the great challenges and act to the citizens' benefit.""In 1859, the Romanian Principalities embraced European values and entered an ample process of state modernization and consolidation. In 2019, Romania's destiny can no longer be separated from the EU as a project of peace, prosperity, ...

PM Dancila, în Brussels: Romania's Gov't had no interference in Justice; rule of law is observed

Friday, January 25, 2019

Prime Minister Viorica Dancila said on Thursday that the rule of law is observed in Romania and the Government had no interference in Justice.The Prime Minister presented the priorities of the Romanian Presidency at the Council of the European Union in the plenary session of the European Economic and Social Committee (EESC), which takes place in Brussels."I would like to make a final mention, because many of you have referred to the rule of law, to ...

Romanian EU Presidency to push Western Balkans case, minister says

Friday, January 25, 2019

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Romania’s EU presidency will push to improve the prospect of membership talks for Western Balkan countries Macedonia (FYROM) and Albania, but only after the European elections in May, the country’s European affairs minister told EURACTIV in an interview. George Ciamba, whose country took over the rotating presidency from Austria on 1 January, also said one of the main tasks of Romania’s six-month ...

European Court of Human Rights ended 2018 with a stable caseload level

Friday, January 25, 2019

By the end of 2018 the European Court of Human Rights had a caseload of 56,350 pending cases, virtually unchanged from the 56,250 applications pending at the end of the previous year, President Guido Raimondi reported at the Court’s annual press conference on 24 January 2019. The stable level of the caseload is due to the fact that the number of applications allocated to a judicial formation in 2018 was 43,100 (63,350 in 2017), while a similar ...

BNR: depreciation of national currency is loss of credibility

Friday, January 25, 2019

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Dan Suciu, the spokesman for the National Bank of Romania says the depreciation of the leu cannot be linked to a speculative attack, when euro reached the record level of 4.7569 lei on Wednesday, but confirms there were certain pressures coming from the lack of credibility for investors who have deposits in lei. “A speculative attack is an understatement. There are many elements here. First we have a fundamental situation, then one of conjuncture ...

Financial Repression, the Romanian Way

Friday, January 25, 2019

The Emergency Decree 114/2018, which has prompted many reactions, might have more profound implications than initially thought, wrote Laurian Lungu, managing partner Macroanalitica, for g4media.ro. According to him, it appears to be a first step in the current governing coalition’s strategy of attempting to enhance the state’s role in ...

TransferGo:  international transactions of 1.25 billion euro in 2018. Transfers to Romania of over 100 million euro

Friday, January 25, 2019

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TransferGo recorded in 2018 an increase of 100% at global and local levels, in point of number of transactions and of overall volumes in transaction. “Over 300,000 transfers were made to Romania in 2018. Most transactions were made by means of the mobile application, Romania being the country with the highest use rate of 80%,”the press release shows. Last year TransferGo extended its portfolio with an international ...

Central Depositary registered fusion between Bancpost and Transylvania Bank. BT capital grows to 4.82 billion lei

Friday, January 25, 2019

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Transylvania Bank’s social capital grew to 4.815 billion lei after the fusion with Bancpost. “Central Depositary”registered the fusion by absorption of Transylvania Bank Cluj Napoca and Bancpost, according to ASF Certificate of January 16, 2019,” the Central Depositary informed. The social capital grew with 2,602,278 shares with a nominal value of 1 leu/share, from 4,812,481,064 lei (divided in ...

Only 71 pct of Romanians aged 16 to 74 used the internet in 2018

Friday, January 25, 2019

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Approximately 85 percent of European Union citizens aged 16 to 74 used the internet in 2018, according to Eurostat data. Internet use has risen rapidly in recent years, from 57 percent in 2007 to 73 percent in 2012, http://business-review.eu informs. The highest percentage of people aged 16 to 74 who used the internet in 2018 was recorded in Denmark (98 percent), Luxembourg (97 percent) and the Netherlands ...

Eurostat: Romania has lowest share of higher education graduates among people aged 30-34 in the EU

Friday, January 25, 2019

About 40 percent of European Union citizens aged between 30 and 34 had a tertiary level of education in 2017, according to data released by the European Statistics Office (Eurostat). In Romania, the percentage is only at 26 percent, the lowest in EU. Tertiary education is the level of education offered by universities, technical universities, technology institutes and other institutions awarding academic diplomas or certificates of superior ...

Commission urges ROMANIA to comply with EU law in refunding unduly charged car registration taxes

Friday, January 25, 2019

The Commission decided this Thursday to send a reasoned opinion to Romania for failing to ensure the full and immediate refund of registration taxes on second-hand vehicles purchased from other Member States. These taxes have been considered by the Court of Justice of the EU as infringing EU rules ...

Commission requests that ROMANIA modify its legislation on customs debt

Friday, January 25, 2019

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The Commission decided this Thursday to send a letter of formal notice to request Romania to align its legislation on customs debt with the Union Customs Code (Regulation (EU) No ...

Statistics: Romania exported iron and steel worth 2.12 billion euro, Jan.-Oct. 2018

Friday, January 25, 2019

Romania exported iron and steel in the first ten months of 2018, worth 2.12 billion euro, increasing by 13.5 percent against in the same period of the previous year, according to data centralized by the National Institute of Statistics Statistics (INS).Iron and steel imports stood at 2.892 billion euro, up 12.7 times compared to January-October 2017, thus a deficit worth 771.7 million euro was recorded on this segment.In the first ten months of 2018, ...

NATO Secretary General: Romania’s contributions make us all stronger and safer

Thursday, January 24, 2019

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NATO Secretary General Jens Stoltenberg praised Romania on Wednesday (23 January 2019) for its strong contributions to the Alliance. Mr. Stoltenberg was speaking after talks with Prime Minister Viorica Dancila at NATO Headquarters in Brussels. The Secretary General highlighted the crucial role Romania plays in the security of the Black Sea region. Joint press point by NATO Secretary General ...

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