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IMF has revised to increase the estimations regarding the advance of the Romanian economy by 4% in 2019

Thursday, October 17, 2019

The International Monetary Fund (IMF) has revised upward from 3.1% in April to 4% the forecast for Romania’s GDP growth this year, raising at the same time its projections for the inflation rate and the current account deficit, according to the latest World Economic Outlook, published on Tuesday, October 15. The Fund also revised upward the forecast for next year’s growth from 3.0% to 3.5%. "Several countries in ...

UniCredit: the Romanian economy goes towards a cyclic economic end: the GDP could grow by 2.7% in 2020

Thursday, October 17, 2019

The Romanian economy goes towards the cyclic economic end and the GDP could grow by 2.7% in 2020 or 2.3 – 2.5% in the case where the US apply the customs tariffs for importarted cars from Europe, stated on Wednesday in a press conference Dan Bucsa, head economist for Central and Eastern Europe with UniCredit Bank London.‘The economic growth in the region will slow down, in connection with that in the euro zone, but it will be over 2% in the largest ...

Euro goes towards 4.76 lei, and the Sterling pound continues to go up and reaches the highest level over the last five months

Thursday, October 17, 2019

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The National Bank of Romania (BNR) announced on Wednesday a rate of exchange of 4.7537 lei/euro, up by 0.03%against the value reached on Tuesday. The sterling pound went up and reached the highest level over the last five months. On Tuesday euro went down at 4.7524 lei. On Wednesday euro went up at 4.7537 lei. The sterling pound went up from 5,4550 lei at 5,4855 lei. This is the highest level since 15 May, when it was 5,4865 lei. The American dollar, ...

FIC: Confidence in the legislative environment remains low following the episode of the Emergency Ordinance 114

Thursday, October 17, 2019

The latest results of the Foreign Investors Council (FIC)  Business Sentiment Index released today reveals the foreign investors’ trust in the legislative environment remains low following the debacle of Emergency Ordinance No. 114/2018, yet noting that “it has not further deteriorated.” “Romania continues to score poorly on infrastructure and regulatory burden. Investors have no option but to adapt to ...

Eurostat: Over 30% of Romanians, at risk of poverty and social exclusion

Thursday, October 17, 2019

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In 2018, 109.2 million people, or 21.7% of the population, in the European Union (EU) were at risk of poverty or social exclusion. This means that they were in at least one of the following three conditions: at risk of poverty after social transfers (income poverty), severely materially deprived or living in households with very low work intensity. After three consecutive increases between 2009 and 2012 to reach almost 25%, the proportion of persons at ...

Gender equality index 2019: Romania, among the last five Member States

Thursday, October 17, 2019

With 54.5 points out of 100, Romania ranks 25th in the European Union (EU) in the Gender Equality Index 2019. The score is 12.9 points lower than the EU average. Between 2005 and 2017, Romania’s ...

Sibiu teleme cheese receives protected geographical indication in EU

Thursday, October 17, 2019

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Telemea de Sibiu, teleme cheese a la Sibiu, has become the seventh Romanian product to have its name entered in the register of protected designations of origin and protected geographical indications (PGI) of the European Union, the Ministry of Agriculture and Rural Development (MADR) reported on Wednesday.According to the ministry, the registration decision was made official under a regulation concerning the European Commission implementing regulation (EU) ...

Ludovic Orban - prime minister-designate

Wednesday, October 16, 2019

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President Klaus Iohannis has designated the Chairman of the National Liberal Party (PNL), Ludovic Orban, as prime minister on Tuesday."After the consultations with the parliamentary political parties and the parliamentary political formations, I have come to the conclusion I also shared after the first round of consultations: a government is taking shape around PNL. I repeat what I said then: PNL was the only party that came right out to the consultations and said ...

PM-designate Orban: When we conclude political negotiations, we will present Cabinet list

Wednesday, October 16, 2019

Prime Minister-designate Ludovic Orban on Tuesday evening stated the names of the ministers will be made public after the last round of negotiations, most probably Tuesday or Wednesday."Most ministers will be from the party. (...) We have a timetable for the first round of political negotiations and we also have a timetable for consultations with the civil society regarding the priorities in every field of activity, consultations with the employers' associations, ...

USR PLUS Alliance sets conditions to grant new Gov't investiture vote

Wednesday, October 16, 2019

The USR PLUS Alliance reiterates the possibility of granting the investiture vote to a transitional minority government, but "only with the fulfillment of certain conditions", noting "the lack of political will to swiftly set off early elections".According to a press release from USR PLUS, the fulfillment of these conditions, until the investiture vote, would constitute "minimum proof of good faith regarding Romania's direction in the next period"."I ...

PSD decided not to come at new government's investiture vote

Wednesday, October 16, 2019

The Social Democratic Party (PSD) has decided not to show up in Parliament at the vote of the new government's investiture, PSD leader Viorica Dancila said on Tuesday."We are waiting for the parties that voted the dismissal of the government to come and assume the responsibility of the government. To come with the programme, the vision and the budget. Any delay and any waste of time is a mockery of Romanians, for which they will be held accountable at vote, ...

Pro Romania's Ponta says PNL not counting on his party to form gov't

Wednesday, October 16, 2019

Pro Romania Chairman Victor Ponta said on Tuesday that he does not believe that the National Liberal Party (PNL) counts on the votes of the Pro Romania lawmakers for the formation of a new government, adding that there will be a "one-off" collaboration with social democrats."What I have said publicly stays. We have done a good thing in putting the Dancila government out of its misery, as it was a dead government anyway. Now, I understand that the Liberals want to ...

UDMR's Kelemen Hunor: I told President Iohannis we don't give a blank cheque to anyone

Wednesday, October 16, 2019

UDMR (Hungarian Democratic Union of Romania) leader Kelemen Hunor said his party won't give a blank cheque to anyone, and that he will be able to tell if his party supports the future government or not only after the name of the future Prime Minister is announced."Probably, President Iohannis will announce the name of the future Prime Minister today. I said that we don't give a blank cheque to anyone. We don't reject from the start, but we cannot promise to ...

Ramona Manescu, Hans Klemm meet, depeening cooperation in Energy, on agenda

Wednesday, October 16, 2019

The Minister of Foreign Affairs, Ramona Manescu, met on Tuesday with the United States Ambassador in Bucharest, Hans Klemm, context in which they discussed about energy cooperation, included."The two officials reviewed the latest regional developments, with an emphasis on the Eastern Neighbourhood. At the same time, they continued the discussions on the coordinated putting into practice of the joint decisions adopted at the last high-level political meetings in ...

Royal visit to Paris: Crown Custodian, Prince Radu - present in inauguration of Queen Mary of Romania Promenade

Wednesday, October 16, 2019

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The Custodian of the Crown, Margareta, and Prince Radu participated on Tuesday, in the context of their visit to Paris, in the official inauguration of the "Queen Mary of Romania Promenade," located on the banks of the Seine, near the Eiffel Tower, informs a Royal House release issued .According to the quoted source, on this occasion, the inaugural plaque confirming the attribution of the name of Queen Mary to this street, located in one of the most prestigious ...

Gov't spokesman Barbu, appointed consul general of Romania in Shanghai

Wednesday, October 16, 2019

Nelu Barbu, the spokesperson for Romania's government, has been appointed Romania's consul general in Shanghai by a decision approved by the government at a meeting on Monday, according to official sources.The decision is to be published in the Official Journal.In February 2018, Barbu was appointed state adviser with the prime minister's working staff and also held the office of governmental ...

Market services provided to enterprises advance 12.2 per cent in Jan-Aug

Wednesday, October 16, 2019

Compared to the previous month, in August 2019 the turnover of market services rendered mainly to enterprises, in nominal terms, decreased as gross series by 4.8% and increased as adjusted series according to the number of working days and to seasonality by 0.1%. Compared to the corresponding month of the previous year, the turnover of market services rendered mainly to enterprises, in nominal terms, increased both ...

Wholesale trade advances 5.2pct in Romania, Jan.- Aug. 2019

Wednesday, October 16, 2019

As against the previous month, in August 2019 the wholesale turnover (excluding the trade with motor vehicles and motorcycles), in nominal terms, decreased both as gross series and as adjusted series according to the number of working days and to seasonality by 1.1%. As against the corresponding month of the previous year, the wholesale turnover (excluding the trade with motor vehicles and motorcycles), in nominal ...

Construction works up 27 pct in January-August

Wednesday, October 16, 2019

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Compared to the previous month, in August 2019, the volume of construction works increased, as gross series, by 0.6% and the adjusted series according to the number of working days and to seasonality remained at the same level. 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 ...

Survey: Gross private sector wages in Romania up 9.4 pct in 2019

Wednesday, October 16, 2019

Gross wages in Romania’s private companies increased by an average of 9.4 percent in 2019, according to the PayWell Salary and Benefits Survey conducted by PwC Romania. The salary increase reported for 2019 exceeds the 4.6 percent level estimated for this year by respondent companies in the survey’s previous edition. For 2020, private companies are estimating a 5.7 percent average gross wage increase. The highest average wage growth in ...

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