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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 ...

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 ...

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