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Ambasssador Cord Meier-Klodt: We follow with concern certain Gov't measures related to economic environment

Thursday, January 31, 2019

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German ambassador in Bucharest Cord Meier-Klodt stated on Tuesday that the Government's decisions regarding the taxation of certain sectors are being followed with some concern, showing that some of the new German investments already planned in Romania are being reanalyzed, postponed, or alternative locations are being sought.I intentionally do not want to talk about current government decisions, but if we speak of leadership, we need to talk about trust, ...

Prognosis Commission maintains GDP growth projection at 5.5 pct, raises exchange rate forecast

Thursday, January 31, 2019

In its winter Outlook of the Major Macroeconomic Indicators 2018 - 2022, the National Strategy and Prognosis Commission maintains its estimation of the growth of Romania's economy this year at 5.5 percent and its forecast for the rate of inflation at the end of 2019 at 2.8 pct, but changed upwards its exchange rate forecast from 4.62 lei/euro to 4.67 lei/euro.GDP growth figures for the next years are similar to those in the autumn outlook, at 5.7 pct in 2020 and ...

Industry Barometer in Romania-December 2018. 2019 Perspectives: the activity contracted strongly on all indicators

Thursday, January 31, 2019

The industry was weaker in the past three months of 2018 in Romania, reads the „Industry Barometer in Romania-December 2018. 2019 Perspectives”, conducted by IRSOP and the Management Faculty within the National University of Political Studies and Public Administration (SNSPA) and presented on Wednesday. 300 industrial companies have been surveyed. The barometer says the domestic industry is growing in value, but the ...

Gov't takes on objective of Romania switching to euro currency in 2024

Thursday, January 31, 2019

The Government takes on the objective of Romania adopting the euro currency in 2024, Prime Minister Viorica Dancila stated."Today, we will also discuss the necessary documents for preparing Romania to switch to the European single currency, drafted within the national committee established for this purpose. The adoption of the euro currency is a complex, large-scale project that needs to be thoroughly prepared by engaging specialists, the academia, employer's ...

Health Minister Pintea: Romania is facing a flu epidemic

Thursday, January 31, 2019

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Romania is facing a flu epidemic, as the flu activity has continued for the third straight epidemic week, Health Minister Sorina Pintea said on Wednesday, adding that the circulation of the influenza virus will be intense in February too."Yes, the epidemic has been acknowledged, as there has been the third epidemic week. The flu activity is country-wide, although at different intensities. Fortunately, this flu disease is caused by a strain with mild to moderate ...

Sorin Dimitriu, president of the Bucharest Chamber of Commerce sentenced to 4-year detention

Thursday, January 31, 2019

Sorin-Petre Dimitriu, president of the Chamber of Commerce and Industry of the Bucharest Municipality (CCIB), was sentenced by the Bucharest Court to 4 years and 1 month detention, in a case involving a fraud with European funds. Moreover, the Chamber of Commerce and Industry of the Bucharest Municipality gets to pay 70,000 lei penalty for committing a crime against the financial interests of the European Union.The decision is not final and can be attacked by ...

Romania, among states to receive the immigrants currently blocked în Italy

Thursday, January 31, 2019

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Romania is among the countries that is willing to accept immigrants who are currently on a humanitarian ship blocked in a port in Sicily, Italy’s PM Giuseppe Conte has announced. There are 47 extra-Community immigrants on board of Sea Watch ship. They have been saved from the Mediterranean Deputy PM Matteo Salvini, who is also the Italian Interior minister, is opposing the immigrants’ landing in Italy. Against ...

Gov't to raise to 20,000 the number of work permits for foreign workers in 2019

Thursday, January 31, 2019

Romania’s government adopted on Wednesday a decree that increases quotas for non-EU foreign workers in 2019 up to 20,000 work permits, an all-time high number, as there is higher demand from local companies claiming they are affected by the workforce crisis, according to a project consulted by Business Review. “For the year 2019 a quota of 20,000 newly ...

President Iohannis had the annual meeting with the heads of diplomatic missions accredited in Bucharest

Wednesday, January 30, 2019

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President Klaus Iohannis said on Tuesday he will do everything in his power to prevent democracy and the rule of law from being affected. "A good share of our efforts is now directed at the successful exercise of our country's Presidency of the Council of the EU. I was telling you at our meeting last year that in order for Romania's foreign and European policy to perform well, the Romanian state must remain one in which liberal democracy and the rule of law are fully ...

ForMin Melescanu reiterates Romania's interest for Caspian Sea-Black Sea International Transport Corridor project

Wednesday, January 30, 2019

Foreign Affairs Minister Teodor Melescanu reiterated Romania's interest in transposing into reality the Caspian Sea - Black Sea International Transport Corridor project on the occasion of the reception of Turkmenistan's designated Ambassador Annamammet Annaiev on Monday. in view of the latter's presentation of the copies of letters of credence, informs a press release issued by MAE.The two officials had an exchange of views on the overall positive evolution of the ...

High Representative & Vice President Federica Mogherini chairs Informal Defence Council and Gymnich in Bucharest

Wednesday, January 30, 2019

High Representative of the Union for Foreign Affairs and Security Policy / Vice-President of the Commission, Federica Mogherini will be in Bucharest from 30 January to 1 February to chair the informal meeting of the European Union Defence Ministers as well as the informal meeting of the EU Foreign Ministers (Gymnich). Both events are hosted by the Romanian Presidency of the Council of the European ...

Ex PM Tudose announces that he has resigned from PSD and will join Pro Romania

Wednesday, January 30, 2019

Former Prime Minister Mihai Tudose, currently deputy of the ruling Social Democrat Party, has announced on Facebook Tuesday that he is resigning from PSD and will join the party set up by another former PM, Victor Ponta. Tudose explained that “the current PSD leadership has replaced the public agenda by personal agendas”, adding that the attempts to dialogue are not taken into account. He further said that his resignation from PSD comes ...

Transparency International’s Corruption Perceptions Index: Romania ranks 24th in the EU

Wednesday, January 30, 2019

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Greece was the European Union member state that saw the biggest decrease in annual rankings measuring perceptions of corruption across the world, romaniajournal.ro informs. It dropped three points in a year and is one of five countries in the bloc considered to be more corrupt than it is clean, euronews.com informs. Transparency International’s (TI) rankings listed Bulgaria as the EU country where corruption is felt the ...

Melescanu for AFP: Romania opposes conditioning EU funds on rule of law situation

Wednesday, January 30, 2019

Romania opposes the EU plan to condition access to European funds on the situation of the rule of law, foreign minister Teodor Melescanu says in an interview granted to France-Presse Agency. He pointed out that functioning of justice was up to every country. “I someone tell me which the criteria defining the rule of law are I would be ready to discuss about this thing,” Teodor Melescanu said in an interview granted to France ...

FinMin Teodorovici on Romania’s 2019 budget: 2.55 pct planned deficit

Wednesday, January 30, 2019

The talks on the draft budget continued on Tuesday night at the Finance Ministry, and the final version will be unveiled on Wednesday by noon, the relevant minister Eugen Teodorovici said on Tuesday evening. The Romanian government projects a public deficit of 2.55 percent of the gross domestic product (GDP) this year, according to the Finance minister Eugen Teodorovici. In the same time, the mayors from Romania accuse the government of ...

Iohannis asked the Government to "cease the taxation experiments"

Wednesday, January 30, 2019

President Klaus Iohannis on Tuesday said that a series of governmental measures show a serious lack of responsibility, seriousness and vision regarding the economy flow and he asked the Government to cease the taxation experiments."I want a Romania with a healthy economy, a well-governed country where today's benefits are not wasted tomorrow, and the measures taken today don't pawn the future of the next generations. Unfortunately, a series of governmental ...

UniCredit Group:the risks grow; possible difficulties in keeping the budgetary deficit (Part 2)

Wednesday, January 30, 2019

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Investments could go on dropping in 2019-2020 as a result of the harshening of the financial conditions during the year of 2018 through the increase of  interests and prudential measures implemented by BNR. As a consequence, the constructions works could grow in a slower rhythm and their impact on economic growth could be annulled as a whole by the reduction of infrastructure works. The possible acceleration of the European funds absorption (EU)at ...

Analysis: Investments of companies activating in Romania will be in stand-by because of fiscal instability

Wednesday, January 30, 2019

Investments of companies activating in Romania will be in stand-by because of fiscal instability, of the increase of operational costs and of the restriction and higher costs of financing, to which the increases crisis in the labour market is added, according to an analysis released on Tuesday by one of the main players in the insolvency market. According to Sierra Quadrant data, a coherent business plan will be a challenge for companies in ...

Telecom operators Orange, Telekom and Vodafone slam the Government

Wednesday, January 30, 2019

The Romanian subsidiaries of three telecom giants, Orange, Telekom and Vodafone Romania have asked the Government on Tuesday to abolish the provisions of the GEO 114 on electronic communications, arguing the draft is discouraging the hi-tech evolution of the mobile networks in a year when telecom operators should invest in the new 5G technologies. The three companies warn that GEO 114/2108 is imposing new taxes and fees on the telecom sector, which ...

Garanti Bank and IFC sign a EUR 55 million-loan agreement to support SMEs and energy efficiency investments in Romania

Wednesday, January 30, 2019

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Garanti Bank, one of the most dynamic banks on the local market, signs a EUR 55 million loan agreement with the International Finance Corporation (IFC), member of World Bank Group, with the purpose of funding small and medium sized enterprises (SMEs) and sustainable energy efficiency projects, aiming to generate growth and resilience to climate change. According to the press release to ACTMedia, with this agreement, Garanti Bank becomes the first bank in Romania to receive a ...

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