Robotic Romania: When are we going to catch up with Slovenia, Czech Republic and Hungary?

In Romania, Revolution 40 is postponed for now indefinitely With a proportion of only 11 robots per 10,000 employees in the manufacturing industry, compared to the regional average of 60, our country is unacceptably late for the start We are far behind not only the Western countries from the EU but also those of the former communist bloc: Slovenia - 110 robots per 10,000 employees in ...
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Looking into biggest change in estimates of all times: Salary increases – you shouldn’t put in what God’s left out

The 2017 spring prognosis of the National Prognosis Commission, subordinated to the Government, reassessed and doubled the real wage increase for the period 2016-2019 In short, from 19% a year ago, it has reached 38%, which is the biggest change in estimates of all times The record was set for 2017, when instead of a modest 30% announced last spring, the institution announced a ...
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Two millstones around Romanian companies’ legs: Transfer pricing files for small firms and absence of a law on holdings

Romanian Local Investors Employers (PIAROM) urges the Government to adopt a set of measures to avoid the millstones around the domestic capital's feet The request expressed by investors mainly refers to the requirement for the small affiliated companies to prepare transfer pricing files, in the context that there is no law on holdings Among the concrete measures that PIAROM "imperatively" ...
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Cost of spectacular growth / Analysts: Domestic consumption driver propelled GDP growth in Q1 but deteriorated external balances and could seize up

  Romania's quarterly gross GDP between 2000-2017 (seasonally adjusted data) Source: INS The unexpectedly high GDP growth in the first quarter, at 57% y-o-y, induces analysts' worries about its unsustainability, which has already caused a deterioration of Romania's balance of payments and trade balance Negative effects on the national currency and the budget deficit ...
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7%: Groups of companies resident in Romania and external/internal control of economy

Germany (185%), France (105%) and Italy (105%) are the countries with the largest share of Romania's economy by the number of employees working in 73,663 groups of companies, according to data processed for 2015 and published at the end of April by INS Along with Austria (73%), the US (72%) and the Netherlands (67%), they control over 60% of the existing groups of companies from our national ...
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Monthly trade deficit has exceeded again threshold of EUR 1 billion

The trade deficit for the first quarter of 2017 was EUR 232 billion, 18% higher than in the same period of the previous year, according to the INS data Exports grew at a very good pace (+ 115% to EUR 1546 billion), but they have been outpaced by imports, which rose by 124% to EUR 1778 billion The imports coverage ratio by exports decreased since the beginning of this year to 907% but ...
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Purchasing power has again exceeded EUR 1,000 threshold

The average gross national wage announced by the INS for March 2017 was 3,256 lei, 48% up compared to the previous month The average net national wage was 2,342 lei (+ 4,7% compared to February 2017), meaning 517 euro, calculated at the average exchange rate of April 2017 (the month of effective payment) or 1,009 euro, in terms of purchasing power based on the EU average prices Exceeding the ...
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J.C. Juncker in Bucharest: Multi-speed Europe already exists in treaties. It depends on you where you will be positioned

Present for the first time in Bucharest in his official role as President of the European Commission, Jean-Claude Juncker sent a very clear message to Romania on Thursday: Europe has no time to still wait and it will depend on every member of the EU where it will be positioned in the future common construction Speaking in the plenary session of the Parliament, Jean-Claude Juncker assured that ...
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How traditional is family in a country where almost a third of children are born out of wedlock? Comparison with Europe

The Parliament voted on Tuesday, with an overwhelming majority, the redefinition of the family in the Constitution The amendments do not concern though only the explicit mention of the male-female couple which should be the basis of marriage They also ignore the situations and state of affairs for both parents and children who live, all or some of them, outside a legalized marriage How much ...
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KeysFin: Romania has entered an acute labour force crisis. Professionalization has declined, offer does not meet demand

The degree of labour force professionalisation in Romania has declined so much that the Romanian economy is heading toward an acute crisis on the market, according to a KeysFin analysis Statistics indicate that the number of vacancies almost doubled in 2016 "There is probably no firm in Romania that does not currently face the effects of the crisis of personnel "Whether we are talking ...
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Romanians – most numerous Europeans who acquire another citizenship. In 2015 number of Romanians who obtained Italian citizenship doubled compared to previous year

New Eurostat data confirms that more and more people going abroad for work settle in the destination countries 28,400 Romanians were granted citizenship in another EU member state in 2015 compared to 24,300 in 2014 It is spectacular the increase in the number of people with citizenship acquired in Italy, from 6,400 in 2014 to 14,400 Romanians in 2015 In 2015, 727,200 people from non-EU ...
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An essential indicator in (great) pain: Observations and solutions to proportion of workers with a temporary employment relationship

Romania marks one more indicator where it ranks the last in the European Union, namely the share of workers with a temporary employment relationship The level of 14% announced by Eurostat for 2016 is ten times lower than the EU average, of 142%, and nearly twenty times below the size of the country that is closest to us in terms of size and level of economic development, Poland ...
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Map of debts / savings: Average level of debts and savings in richest counties are four times higher than in poorest counties

Statistics on the debt and saving capacity give a measure of the gap between developed and underdeveloped counties of Romania The counties where the population and companies save more have, on average, the highest level of loans relative to the number of active natural persons, respectively to the active legal persons, according to the latest comparative data of the National Bank of Romania, ...
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Labour statistics: 3 million full time contracts in private sector and 1.2 million employees in public sector. Almost 2 million minimum national wages

At the end of 2016, there were 4,763 million employees in Romania with permanent, full-time contracts, according to the data from the Ministry of Labour If the expanding employment pace maintains, in 2017 we will reach the record of the last 18 years, registered in July 2008 - 4,833 million employees Even with this record level, Romania remains though, by far, the EU country with the lowest ...
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Beware of mechanism chopping billions of euros for investments: Unseen face of PNDL – in a Court of Auditors report kept secret for two years

The winning team does not change The PSD Chairman Liviu Dragnea announced last week at Antena 3 that the launching of the PNDL II program was among the objectives already achieved from the government program Why was that a priority "Because the PNDL I program was a success," says Liviu Dragnea The Court of Auditors says otherwise The Court's findings present the severe anomalies of the ...
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Prevention Law: Infringers get maximum 90 days to resolve irregularities and authorities have new obligations

Infringer entrepreneurs will have maximum 90 calendar days to correct the irregularities identified, according to the draft Prevention Law discussed on Thursday by the Government. ... Read more

Romanian Commodities Exchange accuses an attempt to "nationalize natural gas trading" behind which is Iulian Iancu

The management team of the Romanian Commodities Exchange (BRM) launched on Wednesday a public call to PSD to reject what they called an “attempt to ... Read more

Members of Chamber of Deputies approved salary increases provided by OUG 2/2017: + 20% for doctors, policemen and civil servants. Students lose free travel with CFR but receive scholarships during vacation

Deputies voted in favour (232 votes in favour, 21 against and 1 abstention) of the bill approving the Government Emergency Ordinance 2/2017 on fiscal and ... Read more

EC forecasts for Romania: Economic growth revised downward to 4.3% in 2017. Budget deficit: 3.5% of GDP

The European Commission (EC) revised downward the estimate of Romania’s economic growth in 2017, to 4.3%, according to the spring economic forecast released on Thursday. ... Read more

Commissioner Corina Cretu says Romania has lost funding for Transportation equivalent to a Pitesti-Sibiu highway cost

Romania loses EUR 1 billion in the transportation field, money that could have been spent in the 2007-2013 financial period, says the European Commissioner for ... Read more

Ministry of National Defence has received approval from Parliament to start 8 programs of military endowment

Defence Minister Gabriel Les (photo) announced on Wednesday that the Romanian Parliament sent the Ministry of National Defence the prior approval for launching the eight ... Read more

New method of payment for VAT on public procurement, explained by Minister of Finance: Italian model

The 2017-2020 convergence program approved Friday by the Government includes the measure of introducing a split VAT payment mechanism as of 1 July. The Minister ... Read more

Oil price increase, cost and investment cuts, as well as "pole tax" elimination doubled net profit of OMV Petrom in first quarter compared to Q1/2016

OMV Petrom (stock symbol SNP) posted a net profit of 619 million lei (attributable to shareholders), 113% higher in the first quarter of 2017 than ... Read more

"Romanian model" for the Sovereign Fund: investments in "small projects with high rolling speed"

The Government is in a hurry and building the Sovereign Fund for Development and Investment (FSDI) so that it can come to fruition as quickly ... Read more

Without environmental stamp, car registrations increased by 73%. Most of them are old cars

The new registrations of motor vehicles for passengers increased by 73% in the first quarter of 2017, compared to the first quarter of 2016, according ... Read more

Project to fight Russian propaganda in media and social networks proposed by Siegfried Muresan in EU 2018 budget

The European Deputy Siegfried Muresan, Chief Negotiator of the European Parliament for the EU 2018 Budget, proposed for the European budget for the next year ... Read more

Document/Tax Code: implementing rules, additions, clarifications

On Thursday, the Government amended and supplemented the methodological norms for implementing the Tax Code, mainly on the corporate income tax, micro-enterprise income tax, income ... Read more

CupruMin – Government’s solution after failed privatizations: state to build a steel plant for processing copper reserves

The Government’s solution after the failed attempts to privatize CupruMin is to build a steel plant to process the company’s copper reserves, said the Minister ... Read more

Multinationals in Romania: some statistics

The National Institute of Statistics (INS) identified in Romania 73,663 groups of enterprises, of which 5,469 groups of resident enterprises and 68,194 groups of multinational ... Read more

Draft regulations to create a new source of financing: Loan Guarantee Fund for SMEs to grant financing and loans

The Government will significantly expand the scope of the Loan Guarantee Fund for SMEs (FNGCIMM) which will be able to grant direct funding from its ... Read more

PIAROM requests an impact study on unitary pay law from Government: This generates a massive migration of qualified personnel from economy to budget institutions

The Romanian Local Investors Employers (PIAROM) appreciates the public debate initiative on the future unitary pay law in Romania, which is made, says a press ... Read more

Manufacturing industry: Production volume at the highest level of 11 months. But managers do not trust this trend sustainability

In March 63.6% of the Barometer indicators show positive changes compared to the previous month, a similar percentage to the one registered in February, while ... Read more

Romania to buy Patriot missiles - it will be the 13th country in the world that owns this defence system

The Chief of the Military Staff, General Nicolae Ciuca (photo), announced in a press conference on Thursday that Romania intends to buy American missiles Patriot, ... Read more

IMF has improved forecast for Romanian economy growth in 2017 and 2018: but far below Government’s calculations

The International Monetary Fund (IMF) has revised its estimates for the Romanian economy growth to 4.2% from 3.8% – previous estimate for this year, and ... Read more

BNR: Current account on surplus, but external debt increased in first two months of 2017

The balance-of-payments current account posted a surplus of EUR 204 million in the first two months of the year, compared to a deficit of EUR ... Read more

Finance Minister Viorel Stefan: Households to be recognized from tax perspective; their members will be able to jointly pay global tax

The Finance Minister Viorel Stefan announced on Wednesday that the future Tax Code will provide the option for a global tax payment on household income, ... Read more

Essential: Government adopted strategy for decentralization. Timetable and sectors

The Government approved on Wednesday the general strategy of decentralization, comprising the responsibilities that could be transferred to the local authorities and describing the way ... Read more

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