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FinMin says budget revision around 26-27 Nov; to take into account 4pct deficit

Monday, November 18, 2019

The budget revision for 2019 will be made in the last week of November with a 4 percent deficit, Finance Minister Florin Citu stated on Thursday evening."The budget revision for 2019 will be around 26 November, 27 November, thus, in the week before 30 November, in the first part of that week. This revision will have a 4 percent deficit. This is why I wanted to be very honest and tell everyone, the international market as well, so that everybody knows what is the ...

Eurostat: Romania recorded the highest annual inflation rate in the EU in October

Monday, November 18, 2019


The euro area annual inflation rate was 0.7% in October 2019, down from 0.8% in September. A year earlier, the rate was 2.3%. European Union annual inflation was 1.1% in October 2019, down from 1.2% in September. A year earlier, the rate was 2.3%. These figures are published by Eurostat, the statistical office of the European Union. The lowest annual rates were registered in Cyprus (-0.5%), Greece (-0.3%) and Portugal ...

Former finance minister, former lawmaker send to court by anti-graft prosecutors

Monday, November 18, 2019

The National Anti-Corruption Directorate (DNA) has sent former Minister of Finance Sebastian Vladescu to court over bribe taking and influence peddling in a corruption case regarding railway rehabilitation.In the same case, former MP Cristian Boureanu was sent to court over influence peddling. Former Finance Minister Vladescu was prosecuted under arrest for bribery and influence peddling in the case investigated by DNA aiming at the  ...

Competition Council president Bogdan Chiritoiu elected to ACER Board of Directors

Monday, November 18, 2019

President of the Competition Council, Bogdan Chiritoiu, was elected on Friday as a member of the Board of Directors of the European Agency for the Cooperation of Energy Regulators (ACER). Speaking in his new capacity, Chiritoiu said that his new position complements his activity within the Romanian competition watchdog."It is an honor that I was proposed by Romania and backed by several member states and came out second, so that we have a ...

Romania spent 0.51% of GDP on R&D in 2018

Monday, November 18, 2019


The R&D expenses represented 0.51% of the GDP1, of which 0.30% for the private sector and 0.21% for the public sector. In 2018, Romania spent 4769.3 million lei on the research and development activity. At the end of 2018, 44733 employees were involved in the research and development activity, a level that was comparable to the one recorded at the end of ...

Volume of construction works up 27.9pct as gross series, Jan.-Sept. 2019

Monday, November 18, 2019

Compared to the previous month, in September 2019, the volume of construction works increased, as gross series, by 2.8% and decreased, as adjusted series according to the number of working days and to seasonality, by 3.4%. Compared to the corresponding month of the previous year, the volume of construction works rose both as gross series and as adjusted series according to the number of working days and to ...

Turnover of market services rendered to enterprises up 12.1pct in first nine months of 2019

Monday, November 18, 2019

Compared to the previous month, in September 2019 the turnover of market services rendered mainly to enterprises, in nominal terms, increased both as gross series by 4.1% and as adjusted series according to the number of working days and to seasonality by 0.8%. Compared to the corresponding month of the previous year, the turnover of market services rendered mainly to enterprises, in nominal terms, increased both ...

Lancet Countdown global report : Air pollution shortens Romanians’ lives by more than eight months

Monday, November 18, 2019

Air pollution is reducing human life expectancy by several months and the Romanians are among the most affected, according to a Lancet Countdown global report on the relationship between health and climate change. The report says that the toxic air shortens the lives of Romanians, Hungarians and Poles by more than eight months, ...

MAE: There is no data confirming existence of any Romanians who would support terrorist organisations in Turkey

Monday, November 18, 2019

 There is no data confirming the existence of a Romanian citizen among the people detained or arrested on charges of supporting or belonging to a terrorist organisation in Turkey, a Foreign Affairs Ministry (MAE) release sent on Thursday informs.The MAE clarification comes after some "pieces of information surfaced the mass media regarding a possible repatriation from Turkey of a Romanian citizen, who is allegedly a member of the Islamic State jihadist ...

Adina Valean, positively endorsed in TRAN for the position of European Commissioner for Transport

Friday, November 15, 2019


Adina Valean's candidacy for the position of European Commissioner for Transport was endorsed positively by the European Parliament's Transport and Tourism Committee.Following the recommendations of the European Parliament committees, the Conference of Presidents (consisting of the President of the European Parliament and the leaders of political groups) will decide on 21 November whether the European Parliament (EP) has obtained sufficient information to declare ...

Presidential election - final results: Iohannis - 37.82pct, Dancila - 22.26pct, Barna - 15.02pct

Friday, November 15, 2019


President Klaus Iohannis has won the first round of the presidential election by 37.82pct, seconded by the PSD (Social Democratic Party) candidate Viorica Dancila, by 22.26pct and the candidate of USR PLUS (Save Romania Union - Party of Liberty, Unity and Solidarity) Alliance Dan Barna, by 15.02pct, after the Central Electoral Bureau (BEC) has gathered the results from all of the polling stations, on Thursday announced BEC spokesman Mircea Preotescu.According to ...

Report on August 10 events, declassified

Friday, November 15, 2019

Interior Minister Marcel Vela announced on Thursday that a report on the August 10 riot police intervention in a street protest in Bucharest was declassified and sent to the Department for Investigating Organised Crime and Terrorism (DIICOT) to be used in a probe that started as a result of complaints filed by people involved.Vela said that Thursday morning the last opinion was received from one of the institutions involved in this report, and a Ministry of ...

PM Orban announces unblocking of amounts necessary for payments related to purchase contract for US Patriot missiles

Friday, November 15, 2019

Prime Minister Ludovic Orban announced on Thursday the unblocking of the amounts necessary for the payments related to the purchase contract for the US Patriot missiles."I have to inform you about the unblocking of the two billion US dollars for the payments related to the contract on the Patriot missiles, decided together with the Minister of Finance," Orban told a press conference held at the Ministry of National Defence (MApN).The major endowment ...

DeAntona (Raytheon): Patriot system for Romania according to calendar

Friday, November 15, 2019


The Patriot system to be delivered in Romania at the end of next year has even advanced the calendar say representatives of the American company Raytheon, according to Agerpres. The radar, which is part of the system to be delivered to Romania is manufactured at Raytheon factory in Andover, 40 km from Boston,and  must be first checked by the manufacturing company. One of the tests has in view technical parameters of the radar and another one its ...

DefMin Ciuca, US Ambassador Klemm, about dynamic rhythm of Strategic Partnership Romania-USA

Friday, November 15, 2019

The Minister of National Defence, Nicolae Ciuca, had a meeting with the United States Ambassador in Bucharest, Hans Klemm, on Thursday, on which occasion the dynamic rhythm of the Strategic Partnership between Romania and the USA was highlighted, as well as the prospects to intensify defence cooperation, informs a press release sent by the Ministry of National Defence (MApN).The meeting is the first since Nicolae Ciuca took office as minister and it was a good ...

JusMin Predoiu, US ambassador Klemm discuss restoring justice laws and penal codes

Friday, November 15, 2019

Justice Minister, Catalin Predoiu, received, on Thursday, at the headquarters of the Justice Ministry, US ambassador Hans Klemm, occasion on which the two officials convened about the fact that "restoring" the justice laws and the penal codes and combating crimes relating to the regime of intellectual property rights represent "essential objectives".According to a release of the Justice Ministry, the meeting between the two took place at the request of the US ...

FinMin Citu : the previous Govt. used two budgets, “like Al Capone”

Friday, November 15, 2019


Romania’s real budget deficit today is over 4% of GDP, new finance minister Florin Citu said in his first press conference on Thursday, November 14. He added that the situation of the country's finances, which he took over from the Social Democrat Government of Viorica Dancila, is much worse than expected and that the previous Government hid this situation by using two budgets, like notorious gangster Al Capone, one unveiled to ...

Minister Citu: 2019 gov't deficit to exceed 4% of GDP if nothing done in one month and half

Friday, November 15, 2019

Romania’s current account posted a deficit of EUR 8.1 billion, in January - September 2019, 19.2% wider compared with EUR 6.8 billion in the same period of 2018, Romania’s National Bank (BNR) announced. The deficit in the trade with goods reached EUR 12.1 billion, up by EUR 2.34 bln (23.9%) compared to last year, while the surplus in the trade with services increased by only EUR 343 mln (+5.5%), to EUR 6.59 bln. The ...

Suciu (BNR): There is pressure on exchange rate from recently published commercial deficit figures

Friday, November 15, 2019


There is pressure on the exchange rate coming from commercial deficit, recently published data showing a rising deficit last month, to which Black Friday imports and the budget deficit situation are added, BNR spokesman Dan Suciu said on Thursday. “There is obviously an exchange rate pressure coming from the commercial deficit. We have recently published data that show an increase of the commercial deficit. So, higher currency needs for ...


Friday, November 15, 2019


As against the same quarter of 2018, the Gross Domestic Product recorded an increase by 3.0% for the unadjusted series and by 3.2% for the seasonally adjusted series; In the period 1.I-30.IX 2019, as against the same period of the previous year, the Gross Domestic product increased by 4.0% for the unadjusted series and by 4.1% for the seasonally adjusted series; The ...

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