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OECD: Romania’s economy to slowdown in 2020

Tuesday, November 26, 2019

After the strong expansion in recent years, growth is projected to slow to 3.2% in 2020 and then increase to 3.7% in 2021, says the latest OECD economic outlook on Romania quoted by romaniajournal.ro. While wages will return to single-digit growth, private consumption is expected to remain robust, sustained by significant increases in public pensions. The trade deficit will increase further due to weak foreign demand and lower price competitiveness. ...

Eurostat: Romania allocated 14% of GDP for social protection in 2017, the lowest percentage in the EU

Tuesday, November 26, 2019

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Social protection expenditure in the European Union (EU) stood at 27.9% of GDP in 2017, slightly down compared with 28.7% in 2012, according to data from Eurostat, the statistical office of the European Union. The two main sources of funding of social protection at EU level were social contributions, making up 55% of total receipts, and general government contributions from taxes at 40%. The EU average continued to mask major disparities between Member ...

Huawei “still confident” it will not be excluded from Romania’s 5G auction

Tuesday, November 26, 2019

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Chinese group Huawei is still confident that the Romanian authorities won’t ban it from participating in the 5G deployment program. “I am still very confident that Romania will not ban our equipment [because] if we are excluded, Romania's economy will decline,” Huawei Romania CEO George Zhang said in a conference about the implementation of the newest technologies in the telecom industry, ...

Adrian Ghenie, on display at the Hermitage in St Petersburg

Tuesday, November 26, 2019

The exhibition I have turned my only face…, featuring paintings by Romanian artist Adrian Ghenie, has opened in the General Staff building of the Hermitage Museum in Saint Petersburg, Russia. The exhibition, which will remain open until February 2 of next year, is meant to “acquaint museum visitors with one of Europe’s most successful young artists.” It includes 12 paintings, including ...

„2019 Korean Movie Week- Bucharest (3rd edition)”, at Cinema Peasant Museum in Bucharest

Tuesday, November 26, 2019

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The Embassy of the Republic of Korea in Romania, together with the National Museum of the Romanian Peasant, invites all movie lovers to the “2019 Korean Movie Week- Bucharest (3rd edition)”, at Cinema Peasant Museum, Studio Horia Bernea, between Nov. 26-28, at 5:30 PM and 8 PM, where three notable Korean films will be screened. This event is part of the Korean cultural weeks, where a series of events were held throughout the month of ...

Presidential elections - provisional results: Iohannis - 66.05%, Dancila - 33.95%

Monday, November 25, 2019

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Incumbent president Klaus Iohannis received 66.05% of the votes in the presidential elections on Sunday while his rival, Social Democratic (PSD) leader Viorica Dancila got 33.95% of the votes, according to provisional data based on results from 99.86% of polling stations showed early on Monday. In Bucharest, Bucharest was voted by 67.5% of people (644 thousand) while Dancila - by 32.5% or 310 thousand. With 9.82 million votes ...

Orban, at EPP Congress in Zagreb, meets heads of gov'ts, EU officials

Monday, November 25, 2019

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National Liberal Party (PNL) Chairman, Prime Minister Ludovic Orban, attended the Statutory Congress of the European People's Party (EPP) in Zagreb on Wednesday and Thursday, where he had meetings with several heads of government and senior officials of the European Union, shows a release issued by PNL on Thursday.The PNL leader was accompanied by Vlad Nistor, PNL vice-chairperson for international relations, defense and national security, and Siegfried Muresan, ...

PM Orban: We'll change the Prefects;each Gov't has the right to choose its own representatives in territory

Monday, November 25, 2019

The Government will operate changes at the level of Prefects and Sub-Prefects, Prime Minister Ludivic Orban has announced on Friday, underscoring that any Cabinet has the right to choose its own representatives in the territory."We will change them, but we didn't want to change them so that no one can say that we want to affect the electoral process, they prepared the electoral process and I let them fulfill their duties for the elections to be correct and no ...

IntMin Vela about August 10 2018 file: Cover-up started with classifying certain documents

Monday, November 25, 2019

Interior Minister Marcel Vela considers that in the case of the events of August 10, 2018, there was a "cover up" that started right with classifying some documents, which would involve "some civil and criminal liability.""Covering up this case file started right with classifying some data and events that took place on August 10, because if they hadn't tried a cover-up or hadn't intended to hide anything, the case file would have been public for everyone and would ...

PM Orban: unpaid bills for local development projects exceeding 5 billion lei

Monday, November 25, 2019

Prime Minister Ludovic Orban said on Friday that appropriations for the Ministry of Development will need to be supplemented with the budget revision, given that unpaid bills of over 5 billion lei have amassed under the National Local Development Programme (PNDL)."No payments have been made under PNDL for months, which is why invoices and work progress reports that have to be paid for have piled up to the tune of over 5 billion lei, and many builders are currently ...

ForMin Aurescu, Atlantic Council US' Gen. Jones, discuss security at NATO's eastern border

Monday, November 25, 2019

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Romania's Foreign Minister Bogdan Aurescu on Friday welcomed Executive Chairman Emeritus of the Atlantic Council US (ACUS) General James L. Jones for and in-depth exchange of opinions on the current challenges to Euro-Atlantic security."The Security situation at the eastern border of NATO was highlighted, with emphasis on the Black Sea region, as well as ways of managing them, underscoring the importance of NATO and the EU, and also the contribution of regional ...

Orban, Klemm discuss projects in energy, military and security fields

Monday, November 25, 2019

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Prime Minister Ludovic Orban said on Friday that he had talked with US Ambassador in Bucharest Hans Klemm about "all projects of common interest in the energy, military and security fields.""You know very well that between the United States of America and Romania there is a strategic partnership, which works very well, the relationship is one of the best ones that have existed in the last 30 years and, obviously, we discussed all the projects of common interest in ...

Romania, US discuss plans to expand Mihail Kogalniceanu, Campia Turzii air bases

Monday, November 25, 2019

Romanian and US defence specialists discussed on Thursday and Friday plans to expand the air bases at Mihail Kogalniceanu and Campia Turzii, at a meeting attended by officials and experts from the two states.According to a press release issued by the Romanian Defence Ministry (MApN) on Friday, the talks were part of a meeting of the Romanian-American executive committee in charge with implementing the Agreement Regarding the Activities of United States Forces ...

Gov't set to pass budget revision by late November

Monday, November 25, 2019

On a working visit to Bals, Olt County, on Friday, Prime Minister Ludovic Orban said the government wants to pass budget revision by the end of November, warning that there are many institutions of the national and local administration, about 20% of the total, that do not have enough money throughout the end of the year to pay wages and cover running costs."For the time being we are focused ... we are working on the draft 2020 national budget, but we want until ...

Analysts: Romanian currency’s 2-3% annual nominal depreciation “only natural”

Monday, November 25, 2019

Romania’s currency (RON) has weakened for the fourth day in a row, by 0.07%, on November 21, and reached an overall decline of 0.3% over the four-day period amid concerns related to the exchange rate stability. The central bank’s spokesperson, Dan Suciu, admitted that the exchange rate “accommodates” the macroeconomic fundamentals (the external deficit and the fiscal gap expected to surface in pressures on the external balance ...

PM Orban concerned about leu's devaluation, points to attempted correlation of Gov't and BNR policies

Monday, November 25, 2019

Prime Minister Ludovic Orban voiced on Friday his concern about the constant rise of the euro against the domestic leu, saying that the Executive is trying to correlate the government policies with those of the National Bank of Romania (BNR) in order to reduce such negative economic effects."Of course [that the leu's devaluation worries me]. We are on the watch and are trying to correlate the government policies with the policies of the National Bank of Romania, ...

CCIR to take over BSEC Business Council Presidency as of 1 January 2020

Monday, November 25, 2019

Romania will take over the rotating Presidency of the Black Sea Economic Cooperation (BSEC) as of 1 January 2020 and, in this context, Romania's Chamber of Commerce and Industry (CCIR) will take over the Presidency of the Business Council of the BSEC.According to a CCIR release, the CCIR delegation has participated on Friday 22 November in the 61st meeting of the Board of Directors of the Black Sea Economic Cooperation, under the aegis of the incumbent Presidency ...

CCIB and Russian Chamber of Commerce sign collaboration agreement

Monday, November 25, 2019

The Bucharest Chamber of Commerce and Industry (CCIB) and the Russian Chamber of Commerce and Industry have signed a Memorandum of Understanding regarding the collaboration in view of developing the regional market, taking into account the complementarities of Romania's and Bulgaria's economies, the involvement in accessing available funds through the European Union Strategy for the Danube Region and capitalising on business opportunities provided by the two ...

Environment Ministry: illegal actions double amount of wood cut yearly

Monday, November 25, 2019

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Some 38.6 million cubic meters of wood is cut in Romania annually - almost double the official figures, with the difference resulting from illegal deforestation mostly in privately owned forests. As he presented the figures on Friday, Environment minister Costel Alexe described them as shocking.The official figures of reported wood cutting are almost 20 million cubic meters below the real figures, he said. "The bibbest problems with ...

The exhibition The Gold of Chinese Emperors, at the National History Museum of Romania in Bucharest

Monday, November 25, 2019

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The exhibition The Gold of Chinese Emperors, presenting royal gold items from the Wanli period of the Ming dynasty, has opened at the National History Museum of Romania (MNIR), in Bucharest. The exhibition covers 149 items from the Dong Bo Zhai collection, and has opened in a partnership with the Xi’an Qujiang Art Museum and the Chinese Embassy in Romania. It marks 70 years of diplomatic relations between Romania and ...

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