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Study: Wages in Romania, much lower than productivity

Monday, July 20, 2020

Wages in Romania are much lower than productivity and, contrary to what is said in the public space, wage increases over the last decade have been accompanied by equivalent increases in labour productivity, so public debate must be reoriented towards increasing productivity, not limiting wage increases, shows a research by FES Romania and Syndex.The document presents a detailed analysis of the issue of productivity, ranging from theoretical aspects to the ...

Campaign promoting local jobs to Romanians returning to the country, launched

Monday, July 20, 2020

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The Economy, Energy, and Business Environment Ministry, through its Tourism Department, has launched a campaign promoting local jobs to Romanians who recently returned to the country or are planning to do so. The campaign focuses on hospitality industry jobs. The authorities say the message they want to get across is a simple one – “We are expecting you home!. We have jobs for you, especially in the HoReCa ...

Wholesale turnover up 4.7 pct this May

Monday, July 20, 2020

Romania's wholesale turnover (except for trade in motor vehicles and motorcycles) this May was 4.7 percent up from the previous month as unadjusted series and 0.6 percent higher as workday and seasonally adjusted series, the National Institute of Statistics (INS) informs on Friday.The 4.7 percent increase in the wholesale turnover (except for trade in motor vehicles and motorcycles) as unadjusted series compared to April was the effect of growth in the specialized ...

Turnover from market services provided mainly to enterprises, up 3.9 pct in first five months

Monday, July 20, 2020

Turnover from market services provided mainly to enterprises, in nominal terms, increased in the first five months of 2020, compared to the same period in 2019, both as gross series and as adjusted series in depending on the number of working days and seasonality by 3.9% and 3.7%, respectively, show the data of the National Institute of Statistics (INS), published on Friday.Thus, in the period January 1 - May 31, 2020, compared to the period January 1 - May 31, ...

Draft law on quarantine and isolation clears Senate plenary

Friday, July 17, 2020

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The Senate plenary on Thursday evening gave a favorable vote to the draft law on the establishment of measures in the field of public health in situations of epidemiological and biological risk. There were 115 votes in favor, eight against and three abstentions. The Senate is the decision-making body in the case of this draft law. After the adoption, the procedure stipulates that the project will stay in Parliament for two days, a term for contesting ...

Government: in mid-August there could be between 1,200 and 1,600 cases of COVID-19 daily, if the upward trend continues

Friday, July 17, 2020

The number of coronavirus cases reported daily could reach 1,200 - 1,600 by mid-August, according to a Government document supporting the decision to extend the state of alert seen ...

777 , a new record single-day spike in coronavirus cases

Friday, July 17, 2020

Romania added 777 coronavirus cases in the past 24 hours, the highest number of daily cases since the start of the pandemic. The total number of Covid-19 cases reached 35,003 on Thursday, July 16, the authorities announced in ...

BNR Governor Isarescu: Developments in public health continue to generate major risks for economic activity

Friday, July 17, 2020

Developments in public health continue to generate unprecedented uncertainty and major risks to the outlook for economic activity and to financial market functioning, with an impact on macroeconomic stability and financial stability, says National Bank of Romania (BNR) Governor Mugur Isarescu."Therefore, the BNR will further monitor all relevant developments and will update the assessments, while continuing to act towards providing the necessary liquidity to the ...

CFA Romania : Impact of novel coronavirus to be felt strongly until the first quarter of 2021

Friday, July 17, 2020

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More than half of CFA Romania analysts estimate that the impact of the novel coronavirus will be felt strongly by the first quarter of next year and the anticipated budget deficit for this year is 8.4%, reads a press release of the organization sent on Thursday.The average value of expectations indicates a decline in gross domestic product of 4.4% for 2020 and for the unemployment rate this value stands at 7.3%."Since April of this year, four ...

Eurobarometer: 64% of Romanians think EU should have additional funds to surpass pandemic consequences

Friday, July 17, 2020

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  64% of Romanians consider EU should have more funds to surpass Covid 19 pandemic consequences, with 8% over the EU average and 77% of Romanians (68% at EU level) think EU should have more competences to manage such crises, according to the Eurobarometer released by the European Parliament on Tuesday. According to the survey made over June 11-29, 2020, on a sample of 1050 respondents in Romania and 24,798 ...

President Iohannis at extraordinary European Council meeting in Brussels on Friday and Saturday

Friday, July 17, 2020

President Klaus Iohannis will participate, on Friday and Saturday, in the extraordinary meeting of the European Council, which will take place in Brussels, informs the Presidential Administration, in a press release.The meeting will be dedicated to the negotiation of the multiannual budget of the European Union for the period 2021 - 2027 and the European Economic Recovery Plan.According to the Presidential Administration, President Klaus Iohannis will ...

Bill setting date of this year's local elections signed into law

Friday, July 17, 2020

President Klaus Iohannis signed Thursday the decree for the promulgation of the Law establishing the date of the 2020 elections for the local public administration authorities, as well as specific measures for the proper organization and conduct thereof, the Presidential Administration announced.Last week, the Chamber of Deputies, as a decision-making body, passed this bill. There were 253 votes in favor, two against and 36 abstentions.According to the ...

Romania and Ireland are ordered to pay the Commission a lump sum of €3,000,000 and €2,000,000 respectively

Friday, July 17, 2020

Romania and Ireland failed to transpose in full, within the period prescribed, the directive on the prevention of the use of the financial system for the purposes of money laundering or terrorist financing Directive 2015/8491 aims to prevent the use of the EU’s financial system for the purposes of money laundering and terrorist financing. Member States had to transpose that directive into their national law by 26 June 2017 and notify the European ...

MAE: EC guidelines on seasonal workers in synch with Romania's steps

Friday, July 17, 2020

Romania's Foreign Ministry (MAE) and Ministry of Labour and Social Protection have welcomed the publication by the European Commission on Thursday of the Guidelines on seasonal workers in the European Union in the context of the COVID-19 outbreak."The guidelines published by the European Commission highlight the rights of seasonal workers under European law and the responsibility of member states to ensure the correct application of the rules in force, given the ...

KeysFin: Romania’s construction market will keep rising in 2020

Friday, July 17, 2020

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The turnover of Romania's construction market (building construction, civil engineering, and special construction works) increased by 17% compared to 2017 and exceeded by almost 30% the level of 2014, reaching over RON 84.4 billion in 2018, according to a KeysFin analysis.  For 2019, KeysFin analysts estimate a considerable advance, expecting the turnover in this sector to reach RON 89 ...

Edible fruit exports rise by 77.6 pct and imports by 15.9 pct in first trimester

Friday, July 17, 2020

Romania's exports of edible fruit totaled, in first three months of this year, 14.8 million euro, being 77.6 pct higher compared to the similar period of 2019, according to data centralized by the National Institute for Statistics (INS).Imports clocked in at 204.6 million euro, by 15.9 pct over those in the first quarter of 2019, resulting thus in a deficit of 189.8 million euro.Edible fruit exports in the countries of the European Union stood at 12.9 ...

Eurostat: Romania, among the EU countries with the most important decrease in exports in May

Friday, July 17, 2020

Euro area In May 2020, the COVID-19 containment measures widely introduced by the Member States continued to have a significant impact on international trade in goods. The first estimates for international trade in goods show that the results for both the euro area and the EU are considerably lower than those recorded in May 2019. In this release, Eurostat, the statistical office of the European Union, ...

President Iohannis: State of alert to be extended by 30 days

Thursday, July 16, 2020

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President Klaus Iohannis announced on Wednesday that the state of alert will be extended by 30 days. "Under these circumstances, in which not only does the number of patients not decrease, but it increases, it is obvious that the state of alert will be extended for 30 days. (...) Only the restrictions that are now in force will be maintained. The introduction of new restrictions is not ordered now, and, unfortunately, having this evolution, we cannot discuss on introducing ...

641 new cases of COVID-19 infections

Thursday, July 16, 2020

New increase in the number of fresh COVID-19 infections has been reported on Wednesday, after 641 new cases have been announced in the past 24 hours. The total number reaches 34,226, while there have been 21 deaths due to the novel coronavirus in the past day. 248 patients are currently in intensive ...

Romania might end up on Italy’s black list

Thursday, July 16, 2020

Italian Ministry of Health is carefully monitoring the situation of the COVID-19 infections from Romania, Croatia, Bulgaria and Serbia, amid growing trend of the virus in these countries. La Repubblica newspaper reports that there are high chances that Italy puts again these countries on the black list of entering Italy. 13 states are currently on this list. Italy, hard hit by the pandemic during its first months of the outbreak in Europe, has been ...

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