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Associations, foundations purchasing medicines and equipment for COVID-19 - exempt from VAT until September 1

Friday, May 15, 2020

Associations and foundations that purchase medicines and equipment used to fight the COVID-19 epidemic will be exempted from paying VAT until September 1, 2020, Deputy Prime Minister Raluca Turcan announced on Thursday."The government has decided that the associations and foundations that purchase medicines, protective equipment and other medical devices and equipment and medical supplies should be exempt from VAT provided that these goods are used to combat ...

Foreign Minister Aurescu, Irish counterpart Coveney on coordination with US in Middle East Peace Process case

Friday, May 15, 2020

Foreign Affairs Minister Bogdan Aurescu had a telephone call with his Irish counterpart Simon Coveney at the initiative of the Irish side on Thursday, with the Romanian official addressing, in this context, the importance of coordination with the United States in the Middle East Peace Process dossier.In the context of the upcoming informal meeting of the Foreign Affairs Council, that is to take place via video-conference on Friday, the heads of the two diplomacies ...

ForMin Aurescu to attend Summit of the CEI Heads of Government this Friday...

Friday, May 15, 2020

Foreign Affairs Minister Bogdan Aurescu will participate on Friday in the Extraordinary Summit of the CEI Heads of Government that will take place via video conference, under the auspices of the CEI Montenegrin Presidency, in cooperation with the Executive Secretariat of this regional forum and the World Health Organization, the Foreign Ministry said in a release.According to the cited source, the Summit will discuss national, regional and European efforts to ...

Current account deficit - up almost 22% in Q1

Friday, May 15, 2020

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The balance-of-payments current account deficit rose by 21.87% in the first three months of this year, to 1.365 billion euros, compared to the same period in 2019, of 1.12 billion according to a National Bank of Romania (BNR) release.According to the BNR, in the structure, the balance of goods recorded a higher deficit by 640 million euros, the balance of services registered a higher surplus by 39 million euros, the balance of primary income reported a growing ...

Non-residents' direct investment posted a negative net value of EUR 551M in the first three month

Friday, May 15, 2020

Non-residents' direct investment in Romania posted a negative net value of EUR 551 million in the first three months compared to EUR 1,235 million in the similar period of 2019, according to the data of the National Bank of Romania (BNR) sent on Thursday."Non-residents' direct investment in Romania posted a negative net value of EUR 551 million (compared with a positive net value of EUR 1,235 million in January - March 2019), of which equity (including estimated ...

Steven van Groningen: Estimated GDP contraction by 6%  is strong but we hope on a short term

Friday, May 15, 2020

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The contraction of GDP by 6%, estimated for this year, is rather strong, but we hope it will be on a short term and we will be able to restart economy engines, said Steven van Groningen, the president of Concordia Patrons' Confederation (CPC) and representative of the Federation of Financial Banking Services. According to the official, resuming public and private investments in Romania is an important aspect. “It is ...

Analysis: Romanian economy risks facing significant insolvency wave after June 1st

Friday, May 15, 2020

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Romanian economy risks facing a significant insolvency wave after June 1, when the state will stop financing technical unemployment in most economic domains, except for HoReCa, analysts from Sierra Quadrant estimate. They say the number of new insolvencies could reach this year the threshold of 10,000 files. While in 2019, the number of companies and authorized persons that reached insolvency dropped by over 20% to 6,524 cases, from 8,304 in 2018, ...

Deloitte: Pandemic could highlight Romania's potential to become a focal point in the EU supply chain

Friday, May 15, 2020

Opinion article by Dimitrios Goranitis, Risk Advisory Partner, Deloitte Romania For the last three decades, Romania has enjoyed unprecedented growth. Since 1987, the country has increased its GDP by a staggering amount of USD 200 billion. Its main trade partners include Germany, Italy and France and its main trade exports are vehicles/vehicle parts and insulated wire, retaining however significant market share in the international food supply ...

Poll: Half of Romanians plan to change jobs next year

Friday, May 15, 2020

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Half of Romanians expect to change their jobs within the next 12 months, and more than a quarter (29%) of them plan to change their sector of activity as well, according to a survey published on May 13 by local online recruitment platform eJobs. According to eJobs research, Romanians are confident that IT will drive the economic recovery after the lockdown ends, followed by retail, banking, pharma, agriculture, and transport and ...

Vlasceanu (ACUE): We need to rethink, put on paper viable industrialization strategy for Romania

Friday, May 15, 2020

The Government and Parliament, regardless of political colour, must shake hands, and together with the energy sector to put on paper a viable industrialization strategy for Romania, Silvia Vlasceanu, executive manager of the Federation of Associations of Energy Utilities Companies (ACUE), said on Thursday in a specialized conference."We find, indeed, a drop in consumption and a move from the industrial area to the domestic area and it is understandable. It is time ...

Tour operators adapt to travel conditions, resume holiday sales for Greece, Cyprus, Bulgaria, Turkey

Friday, May 15, 2020

Several tour operators have resumed the activity of selling holiday packages for destinations such as Greece, Cyprus, Bulgaria, Turkey and Croatia, but also for the Romanian coast, where there is demand from customers.Among the first countries to take steps to resume tourism was Greece, which is directly interested as much of the economy is based on this sector."We want to continue the activity, to sell holidays, the partner agencies ask us when we ...

Eurostat: Bulgaria, Romania among countries with most employees in medium-sized enterprises

Friday, May 15, 2020

The percentage of citizens working in 2017 in medium-sized enterprises of the 27 member states of the European Unions was 16.9 percent, with the highest level recorded in Luxembourg (25 percent), Lithuania (23 percent), Estonia and Latvia (both with 22 percent), Bulgaria (21.2 percent) and Romania (20.5 percent), the data published on Tuesday by Eurostat showed.Moreover, the percentage of those working in small-sized enterprises stood at 50 percent in 2017, the ...

Coronavirus lockdown to end in Romania today

Thursday, May 14, 2020

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Romania has entered today its last day of a coronavirus lockdown, two months after its establishment by presidential decree.On May 4, President Klaus Iohannis announced that the state of emergency would not be extended."The state of emergency will not be extended, I will not issue a new decree to extend the state of emergency and thus May 14 is the last day we will be under a state of emergency. From May 15, to keep the epidemic under control, we will enter ...

Government will make an administrative framework to be worked out to allow restrictions

Thursday, May 14, 2020

Health Minister Nelu Tataru said on Wednesday evening that the government will make a series of decisions on Thursday that will create the administrative framework to allow for certain restrictions to be imposed during the state of alert."Today and tomorrow we are still in a state of emergency; tomorrow we have a government meeting and we will also have a meeting of National Committee on Emergency Situations and we will make some decisions that we hope will create ...

CCR: OUG on the state of alert is constitutional, but cannot restrict freedoms

Thursday, May 14, 2020

The Constitutional Court of Romania (CCR) established on Wednesday that the provisions of article 4 of the Government Emergency Ordinance (OUG) on the state of alert are constitutional "to the extent to which the actions and measures ordered during the state of alert are not aimed at restricting the exercise of some rights".According to a CCR release on Wednesday, the Plenary of the Constitutional Court debated the unconstitutionality exception of provisions of ...

Law on the state of alert in Romania, adopted by deputies

Thursday, May 14, 2020

The Chamber of Deputies on Wednesday cleared the Government's bill on the measures foreseen during the alert state, including that Parliament is required to approve the state of alert if it is established in at least half the country.The bill passed by 267 'for" votes, 26 'against' and 5 abstentions.The deputies removed the amendment introduced by the Legal Committee on the proposal of the liberal Florin Roman that the law should enter into force on ...

Simple motion submitted by PSD against Finance Minister, approved by Chamber of Deputies

Thursday, May 14, 2020

The Chamber of Deputies has approved, on Wednesday, the simple motion submitted by the Social Democratic Party (PSD - opposition) against the Minister of Finance, Florin Citu. The simple motion, titled "The Citu virus has infected the national economy," was debated in the session on Monday. Voting "for" the motion were 166 deputies, 94 were "against" and 28 ...

Survey BCS: president Klaus Iohannis at the top of trust in public personalities

Thursday, May 14, 2020

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President Klaus Iohannis occupies the first position in the top of trust in public personalities, in a survey made by the Bureau for Social Research (BCS) between 1-7 May, according to which 43% of the Romanians trust much or very much the president, while 56% said they trust little or at all.President Klaus Iohannis – 43% trust much or very much, 56% little or at all, 1% do not know himPrincess Margareta’ 31% trust much or very much, 55% little or at ...

BCS survey regarding the voting intention for local elections: 32.7 PNL, 25.3% PSD, 19.9% USR-PLUS

Thursday, May 14, 2020

A survey made by the Bureau of Social Research during the period 1-7 May shows that at the local elections 32.7% of the interviewees intend to vote with the PNL candidate, 25.3% with the PSD candidate and 19.8% with the USR-PLUS.Similarly, 5.9% will opt for the UDMR candidate, 5.3% for the PMP candidate, 5.2% Pro Romania, 1.7% ALDE, Partidul Verde 1% and 3% will select the candidate of another party, 27.8% of the interviewees stated they did not want to vote or ...

DefMin - US Secretary of Defence phone call: Black Sea security in COVID-19 context

Thursday, May 14, 2020

Minister of National Defence Nicolae Ciuca and United States Secretary of Defence Mark T. Esper assessed on Wednesday, over a telephone conversation, the security situation in the international environment and in the Black Sea region, especially in the context of the development of the SARS-CoV-2 pandemic."Appreciation was expressed for the mutual assistance provided in the efforts to combat the pandemic: the United States paying the costs of carrying out a ...

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