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Gov't adopts draft law regulating state of alert

Tuesday, May 12, 2020

The Government adopted on Monday a draft law for regulating the state of alert to be implemented after the state of emergency ceases, head of the Prime Minister's Chancellery Ionel Danca announced on Monday."The Government adopted a draft law for protecting the life of citizens and the health of individuals in the next period, in order to regulate the state of alert which will be instituted after the state of emergency ceases and, in the absence of some clear ...

Death toll caused by COVID-19 reaches 982

Tuesday, May 12, 2020

Another 10 persons died in Romania due to the novel coronavirus, the total death toll reaching 982, the Strategic Communication Group (GCS) informs Monday evening.The dead are 8 women and 2 men with ages between 60 and 84 years old of Botosani, Bacau, Suceava, Galati, Bistrita-Nasaud, Brasov, Neamt counties and Bucharest, all with comorbidities. COVID-19 caseload evolution until 11 May 2020: ...

FinMin Citu: We borrow to pay PSD's bills and expenses

Tuesday, May 12, 2020

We borrow in order to pay the bills and expenses made by the Social Democratic Party (PSD), and had the PSD been a responsible party, it wouldn't have passed laws in Parliament without the necessary funding source, Finance Minister Florin Citu said on Monday in the Chamber of Deputies' plenary."I left the discussion about loans for the end, a soup reheated by the signatories of this motion. It's time for me to teach you a lesson of economics, and you have to ...

BNR interventions on the market: the financing necessary of the state is huge

Tuesday, May 12, 2020

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Friday 8th May the Central Bank – BNR published the monthly report regarding the statistics indicators  of the banking system and of the economy on March, which includes some dates of April. This report can show how the BNR  intervened on the market: the REPO operations – acquisition of state bonds on the secondary market – how much cash was on the market, etc. Similarly, the fluctuations registered ...

European Commission proposes to create a Central Anti-Money Laundering Body

Tuesday, May 12, 2020

The European Commission released on Thursday a bold action plan to ensure a unified and comprehensive EU-wide policy to prevent money laundering and terrorist financing. In addition, it launched a public consultation on this matter, open until July 29th 2020. According to an analysis of Mares & Mares, a law firm specializing in white collar crime, this broad action plan comprises six steps: The efficient ...

Survey: COVID-19 increasing consumers’ focus on “ethical consumption”

Tuesday, May 12, 2020

The COVID-19 pandemic is likely to alter consumer behaviors permanently and cause lasting structural changes to the consumer goods and retail industries, according to findings of an Accenture survey of more than 3,000 consumers in 15 countries across five continents. The survey, which was conducted between April 2 and April 6, after many countries had implemented stay-at-home orders, found that consumers have already begun shifting their ...

Q1 2020 trade deficit reaches 4.46 billion euros

Tuesday, May 12, 2020

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In the period 1.I-31.III 2020, the FOB exports amounted to 17071.4 million euro and the CIF imports amounted to 21526.5 million euro. In the period 1.I-31.III 2020, the exports decreased by 2.6% and imports increased by 1.3%, compared to the period 1.I-31.III 2019. In the period 1.I-31.III 2020, the FOB-CIF commercial deficit was of 4455.1 million euro, 732.4 million ...

Negative natural growth in February, March 2020

Tuesday, May 12, 2020

In the months of February and March of this year, the vital events generally followed the trends of the previous years. The number of recorded deaths decreased in February 2020 compared to January 2020 and increased in March 2020 compared to February 2020. The number of recorded marriages and the number of recorded divorces rose in February 2020 compared to January ...

Romanian seasonal workers transported to Austria by train

Tuesday, May 12, 2020

A special train with about 80 Romanian seasonal workers aboard departed from Timisoara, in western Romania, on Sunday evening. The train’s destination is Austria, where the Romanians will care for the elderly. The train will cross Hungary but will have no stops until Vienna. It is composed of five wagons of Romania’s state railway carrier CFR and five of the Austrian transport company OBB, ...

Iohannis: In Romania we cannot talk about restarting the economy, because in our country the economy has not been stopped

Monday, May 11, 2020

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President Klaus Iohannis has stated on Friday that it is "clear" that Romania's budget deficit will be higher than the one planned and it will have to be funded."We discussed about the economic situation, the budget situation, the general situation. In this discussion, we focused, after the introduction, on two topics - the first being the budget deficit. It is clear that we will have a higher deficit than the one initially planned, (...) in the beginning of the ...

FinMin Citu: Figures for April, better than we expected

Monday, May 11, 2020

The figures for April are better than we expected, and the revenues are higher than in 2019, Minister of Finance Florin Citu told private TV broadcaster Realitatea Plus."It is true that I looked at the figures for April. They are better than we expected, revenues are higher than in 2019, but at the same time, the estimated deficit for this year is double. So, on the one hand, we have a better revenue situation than we would expect, but at the same time the ...

Chamber to consider simple motion against the FinMin Citu

Monday, May 11, 2020

The Chamber of Deputies will be considering today a simple motion tabled by the Social Democratic Party (PSD) against Finance Minister Florin Citu, and cast a vote on it on Wednesday.The simple motion, called "The Citu virus has infected the national economy," was submitted last Wednesday to a 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 ...

President Iohannis: State of emergency expires in one week; it does not mean that epidemic is over

Monday, May 11, 2020

President Klaus Iohannis said on Saturday that May 15 is an administrative deadline when the state of emergency ends, but drew attention to the fact that, unfortunately, the COVID-19 epidemic has not ended."Unfortunately, the epidemic is amongst us. We still have today, you have probably seen the data, over 300, 320 new cases and I want to draw attention to something that we found. In a week the state of emergency expires. Unfortunately, this does not mean that ...

CCR discusses on 13th May the referral of the Ombusdman on the emergency ordnance which regulates the alert state

Monday, May 11, 2020

The Constitutional Court of Romania is going to discuss on 13th May the referral of the Ombusdman on the emergency ordnance of the government which regulates the alert state, said on Friday the officials of CCR.The quoted sources mentioned that the parties can send to the Court their viewponts until 11th May on Wednesday the Ombusdman referred the Constitutional Court with an exception of non-constitutiionality which refers to the emergency ordnance of the ...

Vela: the CCR decision regarding fines affects the whole of Romania: in alert state we will need measures to sanction

Monday, May 11, 2020

The minister of domestic affairs Marcel Vela stated on Friday night that the decision of the CCR regarding the fines applied during the emergency state ‘ affects the whole of Romania’, adding that during the alert state there will be sanctioning measures. ‘It doesn’t affect me, it affects the whole Romania, as the decision of the CCR is a moment when the state or those who protect the health of the people have no instruments of coercion to take ...

GCS: COVID-19 death toll rises to 961

Monday, May 11, 2020

Nine more people infected with the novel coronavirus have died in Romania, the COVID-19 death toll thus reaching 961, the Strategic Communication Group (GCS) informs on Sunday evening. The latest victims are two women and seven men aged between 52 and 80. A number of 231 new cases of persons infected with the novel coronavirus have been registered in Romania since the latest update, the total number of cases thus reaching 15,362 , the Strategic ...

Dr. Arafat:After 15 May, hospitals will receive increasingly more patients who are not an emergency

Monday, May 11, 2020

 Head of the Department for Emergency Situations (DSU) dr. Raed Arafat has stated that after 15 May hospitals will receive increasingly more patients who "do not represent an emergency." "Naturally, they will start receiving more and more elective patients, patients who are not an emergency, this will surely happen," Arafat said on Friday during a conference organized by the City Hall of District 4, at the site of the new Emergency Department in the courtyard of the ...

Eurostat:Romania's GDP was higher in 2019 than that of the Czech Republic or Portugal

Monday, May 11, 2020

In 2019, the gross domestic product (GDP) of the European Union (EU) stood at around €13 900 billion at current prices. In real terms, the EU’s GDP in 2019 was 17% higher than its level one decade earlier. However, due to restrictions implemented across the world in 2020 to slow down the rapid spread of COVID-19, GDP is now falling sharply. Almost a quarter of the EU’s GDP (24.7%) was generated by Germany, ...

Analysis: Dropping GDP prediction of 1.9% for 2020 seems rather optimistic

Monday, May 11, 2020

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A GDP budget prediction dropping by only 1.9% in Romania in 2020 is rather optimistic, Euler Hermes analysts consider. They see a decline of 5.5-6% of Romanian economy this year.  Mihai Chipirliu, CFA- Head of Risk Analysis Euler Hermes Romania, showed that, although in Romania's case GDP performance in quarter 1 could be superior to that of many state from the euro zone, based mainly on the inertia of growing consumption, in quarter 2 drops ...

UniCredit expects Romania’s economy to plunge by 9% this year

Monday, May 11, 2020

UniCredit Bank forecasts Romania's GDP will plunge by 9% this year, more than the worst projections presented so far by the rating agencies, European Commission (-6%), and international financial institutions. According to the bank's latest quarterly macroeconomic and strategic report, the country's economy will restart in the third quarter of the year (Q3) after a massive economic slowdown in Q2. But the country's economy could take back in 2021 the ...

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