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Tudorel Toader: I will inform the EU justice ministers about the "abuses" committed by Laura Codruta Kovesi

Wednesday, February 6, 2019

Justice minister Tudorel Toader plans to let EU justice ministers know about the former chief prosecutor of Romania’s National Anticorruption Directorate (DNA) Laura Codruta Kovesi’s “abuses.” “I think the members of the selection commission do not know the abuses committed by Laura Codru?a Kovesi to the detriment of the citizens, of the rule of law. In France or in Germany, a prosecutor would not have been ...

Representation of the European Commission reacts on vitamin D after Dragnea’s statement

Wednesday, February 6, 2019

The Representation of the European Commission in Bucharest has posted on Facebook excerpts from a study on vitamin D, after the chairman of the ruling Social Democrat Party (PSD) has announced a programme through which vitamin D is granted to all children free of any charge. Yet, vitamin D is already free of any charge for the children in Romania. According to the study mentioned by the EC Representation, food rich in vitamin D are recommended ...

Freedom House report: Freedom in the World 2019 - Democracy in Retreat; Romania, a “free” nation

Wednesday, February 6, 2019

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In 2018, Freedom in the World recorded the 13th consecutive year of decline in global freedom. The reversal has spanned a variety of countries in every region, from long-standing democracies like the United States to consolidated authoritarian regimes like China and Russia. The overall losses are still shallow compared with the gains of the late 20th century, but the pattern is consistent and ominous. Democracy is in retreat, Freedom House report: ...

Dan Suciu (BNR) on Darius Valcov’s statements on ROBOR: On behalf of whom does Mr. Valcov speak?

Wednesday, February 6, 2019

National Bank (BNR) spokesman Dan Suciu argues that the statements made by Darius Valcov, adviser to PM Viorica Dancila on economic issues, about the change in calculating the ROBOR index or scraping it, show serious confusion regarding the monetary market and its role in supplying liquidities to the economy, banks and treasury. “The National Bank is in dialogue with the Finance Ministry and does not understand the position of Mr. Valcov in this ...

Fitch Ratings: Romania 2019 budget fails to lift fiscal uncertainty

Wednesday, February 6, 2019

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Romania’s draft 2019 budget targets a reduction in the budget deficit, but is based on optimistic assumptions and fails to clarify uncertainty over the new bank tax, Fitch Ratings says quoted by romaniajournal.ro. The budget published by the Ministry of Public Finance on 31 January targets a reduction in the general government (GG) budget deficit (on an ESA basis) to 2.6% of GDP from 3.0% in 2018. This would represent a moderate fiscal tightening ...

Fiscal Council: Budget deficit could be in immediate vicinity of 3% of GDP, in 2019

Wednesday, February 6, 2019

The budget deficit at the end of this year could be in the immediate vicinity of 3% of GDP in terms of overestimation of VAT and social contributions, and in the event of less favorable macroeconomic developments than those taken into account in the budget construction, this level could even be exceeded, consider the representatives of the Fiscal Council."Given the likely extent of overestimation of VAT revenues (by about 5 billion lei) and of social contributions ...

Finance Ministry planning to borrow 1.9 bln lei from banks this February

Wednesday, February 6, 2019

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The Public Finance Ministry (MFP) is seeking to raise this February 1.9 bln lei from commercial banks; the Ministry plans to raise 400 ml lei through an issue of discount T-bills, and 1.5 bln lei by reopening government bond issues. Another 255 million lei might add to these amounts through additional non-competitive bids related to bond auctions. The loans planned for February are 1 bln lei less than in January. The raised amounts will be used to refinance ...

Romanian Business Leaders: OUG 114 will impact Romanian companies more than foreign ones

Wednesday, February 6, 2019

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The Emergency Ordinance 114/2018 remains the main source of dispute between the business environment and the Romanian government, http://business-review.eu reads. While the chairman of the Romanian Business Leaders (RBL) Dragos Rosca is demanding consultation when such big decisions are made, the deputy general manager of Banca Transilvania, Tiberiu Moisa, believes that OUG 114 will be completely ...

The retail turnover in December 2018,up over 5pct

Wednesday, February 6, 2019

Compared to the previous month, in December 2018 the retail turnover volume (excluding the trade with motor vehicles and motorcycles) increased as gross series by 3.2% and decreased as adjusted series according to the number of working days and to seasonality by 1.0%. Compared to the corresponding month of the previous year, the retail turnover volume (excluding the trade with motor vehicles and motorcycles) ...

Fake plastic surgeon operated on patients for over a year in Romanian private clinics

Wednesday, February 6, 2019

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For an entire year, an Italian man posing as a British plastic surgeon worked in several private medical clinics in Bucharest as well as Monza Hospital, one of the largest private hospitals in the country, after receiving official documents from Romanian authorities based on a false medical diploma, according to a report ...

Politico.eu: Romanian prime minister accuses EU of double standards

Tuesday, February 5, 2019

* Western Europeans get treated more leniently, Viorica Dancila says Romanian Prime Minister Viorica Dancila accused Western European leaders of double standards in criticizing her country over corruption and a crackdown on anti-government protests. Dancila, whose government holds the EU's rotating presidency, said corruption is also a problem in ...

Laura Codruta Kovesi, first in the short list for the position of head of the European Prosecutors’ Office

Tuesday, February 5, 2019

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Laura Codruta Kovesi is the first in the short list  of the three prosecutors who run for the leadership of the European Prosecutors’ Office according to a notice sent to the chairman of the European Parliament Antonio Tajani and Tudorel Toader as minister of justice in the country which has the presidency of the EU Council, says Mediafax. ‘ In accordance with article 14(2) of the Regulation of the EU Council 2017/1939 regarding the ...

2019 draft budget delayed, to be amended

Tuesday, February 5, 2019

The Government might vote the state budget draft for 2019 in its Friday sitting after amending it amid criticism launched by mayors, but also by UDMR, the party representing the Magyar community from Romania, which is endorsing PSD-ALDE ruling coalition in Parliament, romaniajournal.ro informs. On Sunday, PM Viorica Dancila had announced that all efforts will be taken so that the budget draft should be adopted on Tuesday. Both PM Dancila and Finance ...

Dan Suciu (BNR) on Valcov's suggestion to scrap ROBOR: Serious confusion in understanding money market

Tuesday, February 5, 2019

Spokesman of the National Bank of Romania (BNR) Dan Suciu turned critical on Darius Valcov, economic advisor to the Prime Minister, saying that the latter's suggestion that the formula used to calculate the interbank offered rate ROBOR should be changed or that the benchmark rate should be removed all together proves he is in serious confusion about the money market and its role in the supply of liquidity to the economy, banks and the Treasury."The National Bank ...

Bloomberg: Romania Wants Its Central Bank to Help Find a Way to End the ‘Greed Tax’

Tuesday, February 5, 2019

Romania’s government asked the central bank to help it effectively eliminate a so-called greed tax on banks after the levy prompted the country’s worst market rout since the global financial crisis. Bank stocks surged in Bucharest, Bloomeberg correspondent reports. The ruling Social Democrats drew rebuke from central bankers who said the tax, introduced to help keep the budget deficit within European Union limits and curb interest rates on ...

PNL to send information material to the European Commission on Ordinance 114/2018

Tuesday, February 5, 2019

PNL (National Liberal Party, opposition, ed. n.) president Ludovic Orban announced on Monday that the liberals will send an information material to the European Commission on Ordinance 114/2018 on fiscal measures."We have formed a team to prepare an information material for the European Commission on Ordinance 114. (...) The team that will work should prepare a briefing with the PNL point of view regarding the regulations in Ordinance 114, both the regulations in ...

BNR on OUG 114/2018 effects, submits research at National Committee for Macroprudential Supervision

Tuesday, February 5, 2019

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The National Bank of Romania (BNR) on Monday presented within the General Council of the National Committee for Macroprudential Supervision (CNSM), an impact study on the effects of the Government Emergency Ordinance (OUG) No.114/2018, and the BNR and the Public Finance Ministry (MFP) decided to create a working group on this topic, according to a CNSM release sent on Monday."During the sitting, an impact study carried by the central bank (BNR) was presented, as ...

Eurostat: În 2016, Romanians's life expectancy was 59.8 years for males and 59 years for women

Tuesday, February 5, 2019

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In 2016, the number of years a person is expected to continue to live in a healthy condition at birth in the European Union (EU) was estimated to be 64.2 years for women and 63.5 years for men. This represented approximately 77 % and 81 % of the ...

Over 1 M employees in Bucharest at end-November 2018, net average income parks at 3,552 RON

Tuesday, February 5, 2019

The number of the employees in Bucharest at the end of November 2018 reached 1,018,213 persons, compared to 993,740 persons in the same month of 2017, according to data released by the National Institute of Statistics (INS).(1 euro = 4.65 RON)The gross average salary was 5,942 RON (4,408 RON in November 2017), while the net average salary reached 3,552 RON (3,164 in November 2017).The number of the unemployed registered at end-November parked at ...

IPP, down in December by 0.2% from November 2018

Tuesday, February 5, 2019

In December 2018, industrial production prices (IPP) for the total (domestic market and non-domestic market) were down 0.2% from November 2018. Industrial production prices for the total (domestic market and non-domestic market) increased by 4.5% in December 2018 compared to December 2017. Industrial production prices (domestic and foreign markets) decreased by 0.2% in ...

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