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Isarescu: We should let exchange rate, market function

Friday, October 4, 2019

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The national currency has not depreciated in recent months and it is worse than an exaggeration to say that the (national currency) leu is on the bottom of the precipice, the governor of the National Bank of Romania (BNR), Mugur Isarescu told a Thursday's press conference, mentioning that the forint and zloty depreciated more than the leu compared to the euro."This fuss, which is actually exaggerated, I saw in a newspaper today, with the depreciation of the ...

MFP wants to borrow in October nearly 4 billion lei from banks

Friday, October 4, 2019

 The Ministry of Public Finance (MFP) has planned, in October 2019, loans from commercial banks worth 3.995 billion lei, of which 200 million lei through a treasury certificate issue with a discount and 3.3 billion lei through seven state bond issues, that could see an additional 495 million lei added through extra sessions of non-competitive offers, associated with bond tenders.The sums are identical to those which were scheduled for September and will be ...

EIB announces tripling of support for Romanian economy up to 1.38 billion euro

Friday, October 4, 2019

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Vicepresident of the European Investment Bank (EIB), Andrew McDowell, stated on Thursday, in Bucharest, that the European Investment Bank Group is tripling its support for Romanian companies, from 500 million euro up to 1.38 billion euro.The initiative for SMEs combines the structural funds with other resources of the EU and the EIB in order to offer loans for 5,000 Romanian SMEs in better conditions, contributing to the creation of jobs that are very necessary to ...

Deficit of consolidated budget rises to 2.1pct of GDP after first eight months

Friday, October 4, 2019

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 The deficit of the consolidated budget rose to 2.1pct of the Gross Domestic Product (GDP) after the first eight months of this year, respectively 21.9 billion lei, according to the data published by the Ministry of Public Finance.In the first eight months of last year, the budget execution indicated a deficit of 14.6 billion lei, respectively 1.54pct of ...

European Commission reimburses 104 million euros to Romania under Technical Assistance Operational Programme

Friday, October 4, 2019

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The European Commission reimbursed 104 million euros to Romania out of the total 121 million euros that were supposed to be reimbursed under the Technical Assistance Operational Programme (TAOP) 2014-2020, according to data released by the Ministry of European Funds (MFE).This amount represents 41 per cent of the money granted under the European Regional Development Fund (ERDF) for the current TAOP programming.According to the MFE, a total number of ...

Industry barometer in Romania: August dark month - Industry in contraction area for all indicators

Friday, October 4, 2019

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Industrial output in Romania was in contraction in August, while in June and July is was close to zero increase and production costs suddenly went up, according to the monthly industrial barometer made by IRSOP and SNSPA and released on Thursday. As of 2014, every month, IRSOP and SNSPA have asked a sample of managers if in  their company production, orders, stock, employment and other parameters have grown compared to the previous month. An index ...

Retail trade volume in Romania, up 7pct, Jan.-Aug. 2019

Friday, October 4, 2019

Compared to the previous month, in August 2019 the retail turnover volume (excluding the trade with motor vehicles and motorcycles) increased both as gross series by 2.3% and as adjusted series according to the number of working days and to seasonality by 0.4%. Compared to the corresponding month of the previous year, the retail turnover volume (excluding the trade with motor vehicles and motorcycles) increased ...

Eurostat: Romania had the highest increase in the industrial producer prices in the EU, in August

Friday, October 4, 2019

Industrial producer prices dropped 0.8 per cent in the Eurozone and 0.3 per cent in the European Union, in August, compared with the same period in 2018, while Romania reported the most significant advance among the member states, showed data released on Thursday by the European Statistical Office (Eurostat).In August, the highest annual increases in the industrial producer prices were recorded in Romania (4.7 per cent), Bulgaria (4.5 per cent) and Luxembourg (2.9 ...

În Romnia, quality of life is a complex term

Friday, October 4, 2019

Romanians continue to leave their country at a worrying pace and many local experts try to find the real drivers behind this trend. Some entrepreneurs and politicians think they have the answer: beyond earnings, people leave mainly because they search a better quality of life for them and for their children. Quality of life is a complex term, as it refers to many aspects of human life and human aspirations. It includes human and natural environment, ...

Constanta: Romanian Gastronomy and Wine Festival, in Ovidiu Square at the end of the week

Friday, October 4, 2019

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Visitors of the Romanian Gastronomy and Wine Festival, held at the end of the week in Ovidiu Square, Constanta, will taste noble wines and have culinary experiences between October 4 and 6, the local administration announced. “The Festival is an event where we encourage promotion, buying and consumption of traditional Romanian products,” Constanta City Hall announced. According to the source, the sale exhibition, ...

Dracula Film Festival, between October 16 and 20, in Brasov

Friday, October 4, 2019

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The International Fantasy Film Festival - Dracula Film Festival -, the 7th edition, will take place between October 16 - 20, in central Brasov, according to a release of the organizers. This year's edition of the festival will have three competition sections: international feature film, international short film and short films shot on mobile phones - Dracula Digital.306 feature films have been registered for the international feature film competition. The ...

Censure motion - to be debated and voted on October 10

Thursday, October 3, 2019

The censure motion will be debated and voted in Parliament next Thursday, the Joint Standing Bureaus of Parliament have decided.The announcement was made by the leader of PRO Romania, Victor Ponta.He specified that the censure motion will be read in the Legislature's plenary session this week, in Thursday's sitting."We have the motion read tomorrow and debated and voted on next Thursday, October 10," said Ponta, after the sitting of the Standing ...

Speaker Ciolacu: Mathematically, majority in Parliament lost, vote on motion not on Saturday

Thursday, October 3, 2019

The chairman of the Chamber of Deputies, Social Democrat Marcel Ciolacu stated on Wednesday that "mathematically" the majority in Parliament was lost, through the fact that the day's agenda for the session in which the reading of the censure motion was to take place was not approved."Mathematically, the majority was lost, today's agenda was not approved. There will be a new session of the joint standing bureaus of the two chambers, a new schedule will be done and ...

Iohannis: Prime Minister flagrantly infringes constitution and gravely affects Romania's credibility

Thursday, October 3, 2019

President Klaus Iohannis claims that the refusal of Prime Minister Dancila to consult with him in what regards the issue of the European Commissioner, "which regards our country's reputation", represents a "flagrant" infringement of the Constitution and "gravely affects the credibility of Romania.""Ms. Viorica Dancila continues to demonstrate to all that she has no business heading the Government. The refusal to consult today with the President of Romania on a ...

Felix Banila's resignation sent to President Iohannis

Thursday, October 3, 2019

Minister of Justice Ana Birchall on Wednesday sent to President Klaus Iohannis the resignation of Felix Banila from chief-prosecutor of the Directorate for Investigating Organised Crime and Terrorism (DIICOT)."The Minister of Justice, Ana Birchall, today, October 2 2019, received Mr Oliver-Felix Banila's resignation from chief-prosecutor of the DIICOT. According to the legal attributions of the Minister of Justice, the resignation of Mr Oliver-Felix Banila was ...

UK Ambassador Noble on Brexit:Very confident we won't face problems that a no-deal would bring for us

Thursday, October 3, 2019

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Ambassador of the United Kingdom of Great Britain and Northern Ireland in Bucharest Andrew Noble, spoke for AGERPRES, about the Brexit process and confessed he is confident in a deal, and also in a 'complex and ambitious' post-Brexit relationship between the European Union and the UK."I'm very confident that the negotiations that are taking place will result in the Prime Minister being able to put a deal to the House of Commons that he endorses, that the EU ...

Vasilescu (BNR): Inflation strikes without taking into acccount what Gov't says

Thursday, October 3, 2019

Romania is facing an inflation twice as high as the level considered optimal for this indicator, and this does not depend on the authorities' statements, Adrian Vasilescu, strategy consultant with the National Bank of Romania (BNR) told a profile conference on Wednesday."Inflation strikes without taking into account what the Government says, what the companies say, what the population wants. It strikes," he said, at the conference titled "Upgrade Romania: ...

Head of Romanian-German Chamber of Commerce Dragos Anastasiu expects annulment of flat tax, major public sector layoffs

Thursday, October 3, 2019

A government with a technocratic prime minister would come to power in Romania in 2020, would lay off some 400,000 empoyees in the public sector and would have to drop the flat tax in favor of progressive taxation. Such are the expectations of the head of the Romanian-German Chamber of Commerce, Dragos Anastasiu, as he told them in a "private person" capacity to German business people in Romania, according to news agency Agerpres.Anastasiu argued that he believed ...

Official: Romania has an European funds absorption rate of 32 pct, below EU average

Thursday, October 3, 2019

Romania has an European funds absorption rate of 32 per cent, for the 2014-2020 programming period, which is below the European average, Minister of European Funds Roxana Minzatu told a press conference on major infrastructure projects on Wednesday ."The general absorption rate is 32 per cent, which means that the country received almost 10 billion euros from Brussels, in the cohesion and agricultural policy areas. The European average, however, is above us, which ...

ANCOM : the observance of the calendar regarding the 5G bid depends on the government decision which includes the starting prices

Thursday, October 3, 2019

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The calendar assumed by the National Authority for the Administration and Regulation in Communications (ANCOM) regarding the procedure of bidding for 5G is observed, but there is a need for the government decision which includes the starting prices, document which should’ be presented, in at most a week’ but I don’t know if it happens, stated on Wednesday the vicechairman of the institution Eduard Lovin.‘At present, we observe the deadline ...

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