Mains

Adapting Romanian production to increasing incomes – rapid development and trade balancing are at stake

Romania is increasingly specializing in the extremes of the demand range High-quality products for the foreign markets or parts incorporated at low prices in quality products marketed as final products in other countries Along with products at a modest level of quality and moderate price for the domestic solvent market In other words, we exploit small gaps identified among the already ...
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Cristian Grosu / Why Romania is doomed to improvise: Unproductive Romania and delirium of decision makers

  It is not that, after a fashion, we have something to cook every evening – us, employees, entrepreneurs, decision makers, plits (politicians for life, irrespective of their skills) or just spectators: but that is (INCREASINGLY!) difficult for Romania to become a productive country in the strict sense, because the context of our economic game requires a visionary conceptualization ...
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DESI 2017, Romania: Best Internet speed, but ranking last in EU in terms of using it

The European Commission has published the Digital Economy and Society Index (DESI), 2017 edition, which shows that the only thing that Romania prides itself, namely the Internet speed, is not enough for our country to move from the traditional last position in the EU ranking Romania ranks 28th in DESI 2017 The report says: "Romanians benefit from coverage of fast broadband connections in urban ...
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State, as employer in capitalist Romania: a different analyisis of private economy

Who keeps alive the economy, administrative systems, budgets of all kinds - from the investment to pension budget - and ultimately the whole society The answer to this question - that should be simple: private economy - looks more like a patchwork than it should There are entire areas of the economy where the state is the employer without which nothing moves And "the private ...
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Warning (detailed) for lucid ones: 4.8% – highest growth in Europe – NOT based on something tangible: Industry contributed 0.4%, construction 0.1% and agriculture nothing

The National Institute of Statistics (INS) confirmed the last year's economic growth at 48%, the first preliminary version published after the initial forecast announced as a signal (We remind that the second preliminary version is to be announced after about a month and the semi-final version after one year, while the data will remain "set in stone" only after two years, in their final ...
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Valentin Lazea – Chief economist of BNR / EU problems and problems of “Hard core” group: With calm, on “White paper on the future of Europe”

As expected, the publication, on 1 March 2017, of the "White Paper on the future of Europe" signed by the European Commission President, Jean - Claude Juncker, has sparked much debate Unfortunately, most standpoints in the Romanian public space express fear and indignation against the perspective of creating a two-speed Europe and prove they ignore some fundamental things First, they do not ...
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Government prepares a budget revolution: Income tax to be entirely collected to local budgets

The Government prepares amendments to several laws so that the income tax to be directly and entirely collected to the local government (municipalities, county councils) as of 1 January 2018, to finance their functioning, stated the Minister of Regional Development, Public Administration and European Funds (MDRAPFE), Sevil Shhaideh The statement - quoted by Agerpres - was made Wednesday ...
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State, in a harsh competition with companies for money from banks

The balance of government credit (including local government) was 922 billion lei at the end of 2016, which represents over 86% of the corporate loans, according to the National Bank of Romania (BNR) In other words, the banks use their lending resources for financing the state almost as much as for financing the companies, as it is well-known that financing the state is a safer and easier way ...
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Exclusive / Letter of Commissioner Moscovici to Romanian Government: Deadline set in April for an action plan to bring budget back within realistic deficit target

Foto: Valdis Dombrovskis (left) and Pierre Moscovici The Vice-President of the European Commission Valdis Dombrovskis and the Commissioner for Economic and Financial Affairs Pierre Moscovici sent the Minister of Finance, Viorel Stefan, a letter stating that by the launch of the Commission Spring Forecast (April 2017), the Government should "credibly" announce the measures aimed to bring the ...
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What’s left of a strategic decision: Dutch corvettes for Romania – went missing in Dragnea – Les – Tariceanu Triangle

The Defence Minister Gabriel Les (photo), listed Tuesday during the presentation of the activity report of MApN the projects for equipping the army considered priorities, of which the naval component has disappeared – the corvettes that the Romanian state was intending to acquire from the Dutch "It is for the first time when the major plans are in line with the budget allocations We shall ...
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European Semester: a summary about Romania in 2017. Brussels data do not “match” at all those from Bucharest

  The European Commission (EC) shows in the 2017 country report on Romania that, by reversing the consolidation trend, the fiscal policy turned pro-cyclical in 2016 and the deficit is widening Driven by significant tax cuts and expenditure hikes, the general government deficit will increase further to 36% in 2017 and 39% in 2018 Contrary to the forecast that the Government presented, ...
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Real economy: Profits of large companies in 2016 hide consumption increase tensions. Dividend ranking

The tensions hidden by Romania's economic growth in 2016 (48%) are visible in the results of the 20 largest Romanian companies listed on the Bucharest Stock Exchange (BSE), according to their data reported to the stock exchange The 2016 results of the companies from the BSE Top 20 "suggest that the economic growth was based mainly on consumption and investment with no speed," said Mihai ...
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Cristian Grosu / Do not be stupid: Trap for a perverse political class to keep the domestic and foreign capital. Some examples

  I usually do not keep in touch with the mob representatives that decapitalized Romania, even if some of them were sources of information for me in the last 24 years Taking that into account, I have a strong admiration and determination to help in any way and anytime I can Romanian entrepreneurs who have managed to remain standing despite the hostile environment in which they evolved ...
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Wonderful world of salaries and pensions in the next 4 years: “we have a problem!”

The Minister of Labour Lia Olguta Vasilescu confirmed last week in a TV show that the pension and salary increases will apply in the next four years exactly as they are written in the electoral leaflet of the main governing party If applied as they have been presented, a major issue for the Romanian economy is worryingly taking shape: the sustainability of the pension system To simplify the ...
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Why Romania fails to join OECD: criteria that it does not meet and what to do

Romania's accession to the OECD is a major goal of the Romanian foreign policy since 2004 After 7 governments at Victoria Palace and 13 years since establishing this objective, during which the OECD has received new members 2 times (2004 and 2012), Romania is still waiting for a favourable decision According to an OECD report issued in December 2016, the wait seems to be lasting and does ...
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NEWS

IMF mission concluded consultations in Bucharest – Government’s options

The IMF mission concluded Thursday a 7-day visit in Romania in the annual process of consultation under Article 4, after a small delegation came to ... Read more

Romanian leu depreciated to reach 4.5654 lei/euro, record level of last four and a half years

The reference exchange rate announced Friday by BNR was 4.5654 lei/euro, 0.3% more than the level reached in the previous session and a maximum level ... Read more

Liviu Voinea (BNR): 7,000 notifications on debt to equity swap, by February; loans amounting to 2 billion lei

The number of notifications registered under the Law on debt to equity swap reached to 7,000 at the end of February, representing total loans amounting ... Read more

Siegfried Muresan: Romania should make joining Schengen a condition to accept two-speed Europe

Member of the European Parliament Siegfried Muresan (photo) said in Strasbourg that the idea of a multispeed Europe is not wrong altogether, and Romania should ... Read more

Valentin Lazea: Absorption of EU funds could lead to a 4.5% increase of potential GDP

The International Monetary Fund (IMF) told the officials of the National Bank of Romania (BNR) that a 95% absorption of the European funds would lead ... Read more

Investigation on record high prices on energy market: 440 million lei in losses generated by seven to eight traders. Guilty ones lose their licenses

Seven or eight energy traders generated total losses of 440 million lei to the suppliers of last resort and the network operators, losses that will ... Read more

ANAF announces a campaign to control compliance of tax declarations

ANAF announced Thursday that will launch inspections starting in April that will include institutions from the financial and banking sector, with the aim of checking ... Read more

Romanians pay among the highest utility costs in Europe, by reference to their income

Romania ranks second in the ranking of families from the European Union who spend more than 40% of their income on home utilities (electricity, gas, ... Read more

Hourly labour cost increased by over 12% in Q4 2016 compared to 2015. Higher earnings in healthcare and education

The hourly labour cost in adjusted terms (by the number of working days) registered an increase of 12.33% in the fourth quarter of 2016 compared ... Read more

Emergency measures to control deficit: Minister of Finance blocked recruitment for budget institutions and halted promotions

Minister Viorel Stefan (foto) urged to keep the deficit under control. In the midst of the discussion about the increased salaries, government officials turn off the ... Read more

Ministry of Finance, investigations on misleading and comparative advertising

The Ministry of Finance announced Wednesday that it has started an information and verification campaign on a sample of 447 firms that sell food, beverages, ... Read more

Budget implementation of January 2017 - 5.7% lower revenue and 3.5% higher expenditure compared to January 2016

The Ministry of Public Finance published Monday the report on the implementation of the consolidated general budget for January 2017. According to the official announcement, ... Read more

Romania, Hungary and Slovakia are competing for an EUR 200 million Mitsubishi investment 

After Renault, Ford and Daimler, another big car manufacturer intends to establish an engine factory in Romania: the company is Mitsubishi, announces ProTV. According to ... Read more

2017 started with a decreasing confidence in economy and leu, according to CFA Romania Index

The index of macroeconomic confidence has declined for the second consecutive month, down to 54.9 points in January 201, of 100 points in total. “The ... Read more

One of 102 taxes eliminated is back: Daniel Constantin announces new version of car pollution tax

Daniel Constantin probably has not read the program of the PSD government The Minister of Environment Daniel Constantin (foto) announced on Tuesday that, probably next ... Read more

Competition Council investigates why fuel prices in Romania exceeds the EU average

The Competition Council has launched a sectoral investigation on the fuel market, to analyse why the prices in Romania are above the EU average, said ... Read more

2017 European Semester, analysis on Romania: growth above potential, worrying deficit estimates

Despite Romania’s progress in implementing the recommendations of the European Commission (EC), “the structural challenges may dampen the medium-term outlook,” mentions the report on Romania. ... Read more

2017 trends : Bucharest Stock Exchange indices hit new 5-year highs. BET exceeded psychological threshold of 8,000 points

The most important indices of the Bucharest Stock Exchange (BSE) registered new 5-year high Wednesday at noon and continued the favourable trend of the last ... Read more

World Bank, interested to support founding of Sovereign Investment Fund

Alexandru Petrescu, Minister of Economy The World Bank is interested in the announcement that Romania plans to establish a Sovereign Fund for Development and Investment ... Read more

Memorandum: Sovereign Fund to be financed from selling shares of state companies and bonds

To obtain financing, the Sovereign Fund for Development and Investment (FSDI) planned by the Government will sell shares in the state companies received in its ... Read more