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Priorities for Romania: healthcare system, arrears, investments and state companies
Jeffrey Franks, IMF mission chief, said on Monday that Romania must have four priorities in the forthcoming period: Continue the reform in the healthcare system, a system that the IMF mission chief considers to be “very sick” and in need...
Traian Basescu: Romania To Return To Growth 6 Months After SUA, Germany And France
President Traian Basescu thinks that Romania’s economic revival is strictly linked to the evolution of the largest economies of the world and will return to economic growth at six months after the revival of economies like USA, Germany and France. "Romania does not aim to...
Romania pays RON4.3B to ensure winter fuel stocks
The Romanian Economy Ministry announced that it invested 4.3 billion lei (EUR1=RON4.2046) to ensure the fuel stocks for the electricity and heating power producers during the winter period. "All the plants that ensure a good functioning of the energy system have the necessary fuel...
The Memorandum To Upgrade 10,000 Km Of Roads, approved by the Romanian Government
The memorandum regarding the upgrade of 10,000 kilometers of county roads proposed by the leaders of the ruling coalition was adopted on Wednesday by The Romanian Government, according to Development Minister Vasile Blaga. The program will start in 2010 and will receive an estimated...
The IMF council is evaluating the agreement made with the Romanian government, in full political scandal
Romanian prime-minister Emil Boc is threatening with the reshuffle of PSD members, while PSD party president, Mircea Geoana, is recommending that the prime-minister monitors the PD-L ministers responsible with the economics politics. While this, and a controversial censorship motion that is...
Budget cuts, in the first reading: “trimmings” on all levels
The Romanian government discussed yesterday, in its first reading, the state budget cuts and the social insurance budget, in order to adjust the national deficit from 4.6% to 7.3% of the Gross Domestic Product (GDP). “The budget cut will make adjustments in all the ministries, in an even...
The IMF gives Romania a 1.14 billion dollar “bonus”
The International Monetary Fund (IMF) has granted the allocation of Special Drawing Rights (XDR) in total value of 316 billion dollars, of which Romania will receive 1.14 billion. The IMF initiated a liquidity supplementation program for all member states. This is done by increasing their...
European Commission Demands Investigations Regarding CIA Secret Prisons in Romania
The European Commission asked member states to continue “in depth, independent and impartial investigations to establish the truth, whatever the truth may be” regarding allegations that some EU countries housed CIA secret prisons. According to C.I.A. officials, cited by New York...
Romania reached a 8.8% economical contraction – large companies in decline
The evolution of the recession was under analysts expectations, who estimated a drop of up to 10% for the April-June period of 2009. This is the fourth largest economical decline in the EU, after the Baltic area. Compared to the January-March interval, the decline was only 1.2%....
In four months, the Romanian government has to cut its spending by 1 billion Euros
The Romanian Prime-minister Emil Boc announced a 2% increment of the pension point and free of tax reinvested profit, starting October 1st. It has also announced it will drop the minimum tax, at least partially, starting January 1st. By the end of the year, the Government has to reduce budget...
The Nabucco pipeline leaves 8.3% of gases and 14% of its tax profits in Romania
The Nabucco natural gas duct will infuse money in Romania in the guise of tax profits and dividends, will ensure 1.500 jobs, will actuate the Romanian industry and lower the dependency of Russian gas imports after 2014-2015. The government representatives in Romania, Turkey, Bulgaria,...
Products made in Romania start to lose their customers
Germany and Italy have officially stated that they have entered in economic crisis. The shock wave has touched also the Romanian economy, through the collapse in demand on the main two export markets, and also on other European markets, where our country still had profitable businesses.The...
More than two million Romanians won't vote on November 30
According to the current legal stipulations, the voters will be able to attend to the general elections only to the polling stations in which their domicile is according to the ID. In conclusion, the students, the ones without sojourn documents in other countries or the ones that work in other...
The salaries of professors go back to the Parliament
The leaders of the parties from the Opposition promise that they’ll do everything they can for that the professors to receive their wages increased with 50%, even retroactive, starting with October 1. There are taken into account two options: adopting of a motion, respective rejecting in...
There are favorites in the race for managing the Property Fund
The Romanian Government seems to have taken a short brake in the race for choosing the manager. Adopted in rush, the legislative package which regulates the administration of the Property Fund wasn’t published yet in the Official Gazette. Governmental sources sustain that the specific laws...
War of those 1,3 billion lei allocated to the local authorities
Last month the government has allocated 1,3 billion lei from the budgetary reserve fund for current and capital expenditures, to over 2000 mayoralties. The mayoralties managed by PSD and liberals have received the largest sum of money, PDL accusing the Government that the budgetary allocation was...
China and India focus their attention to economic growth
China declares in favour of strengthening the international co-operation for counteracting the financial crisis, stated recently a diplomacy statesman from Beijing when he was asked if his country plans to take part at the world financial summit, proposed by USA. “China will continue, from...
CCR, an inconsequent arbiter in the fight between the state powers
During the current year, the Constitutional Court of Romania (CCR) has adopted 29 decisions related to the constitutionality of some laws and solved two juridical conflicts of constitutional nature.Of those eight notices hand in to CCR before the laws to be promulgated, just for the last three...
The European Commission proposes a minimal deposit guarantee of 100.000 euro
The European Commission has proposed to increase the minimum deposit guarantee threshold to 100,000 euro in one year, from 20,000 euro at present, while the payout period in the event of bank failure is to be reduced from three months to three days, the Commission said. "The new rules are...
Inflation, main concern for India
One of the world’s large consumers of raw materials, India isn’t afraid of crisis. Instead it is afraid of inflation. Announcing the strengthen of its economical partnership with India, the European Union hopes to take advantage not only from the emergent market, that is forecasted to...
Romania's August net salary down 2.4% to 1,277 RON
Net average salary of Romanian employees was down 2.4% on the month in August to 1,277 lei (1 euro = 3,8720 RON), the National Statistics Institute said on Monday. In nominal terms, the salary was 31 RON lower compared with 1.246 RON in July. In real terms, wages were 2.8% lower on the month,...
Vosganian: Current account gap down to 13.5% of GDP In 2008
Romania's current account deficit will narrow to 13.5% of gross domestic product, or GDP, and exports will grow at a higher pace than imports in 2009 when the current account deficit will slow to 12% of GDP, Economy and Finance Minister Varujan Vosganian said on Tuesday. "In 2009, exports...
Managers predict growth in all four major sectors of the Romanian economy
Romanian managers are positive about the four major sectors of the Romanian economy, namely the industrial, service, construction and retail sectors, between September and November, the National Institute for Statistics, or INS, said on Monday. Local managers expect prices to rise in all four...
Citigroup will acquire Wachovia
Citigroup will acquire the banking operations of Wachovia bank, in a deal facilitated by the Federal Deposit Insurance Corp. Citigroup will absorb up to $42 billion of losses in the deal, while the Federal Deposit Insurance Corp. will cover any remaining losses. Citigroup also will grant the...
FBI, following the influent guys on Wall Street
Interesting coincidence! While the French president, Nicolas Sarkozy, demanded from the tribune of the United Nations Annual Meeting, the prosecution of those guilty for the financial crisis and decides in favor of a "covered" capitalism, the FBI launched an investigation in order to clarify if the managers of the 26 institutions on Wall Street may be suspected of financial manipulation and fraud.
