Mains

All it takes against public money: Court of Auditors – mutilated and thrown at Administration’s feet. Commission warns that will suspend European funds

The Senate, under its role as the decision-making chamber, in this case, will discuss in plenary amendments to Law 94/1992 on the functioning and organization… Mai mult

BNR – Risk map: Credit default risk got right to “high” level top position

The deterioration of investors’ confidence in emerging economies and the default risk of loans to companies and population are the biggest risks to financial stability… Mai mult

A (new) paradox: Public debt decreases as a share of GDP – cost increases with interest to what we borrow. Remarks

Although medium- and long-term foreign debt (DETML) has declined steadily over the last four years related to GDP, the amount paid for this debt has… Mai mult

We and Juncker Plan: Bulgaria – 3rd position, Romania – 23rd position. How other neighbours are doing

The value and economic impact of the Romanian projects to attract resources from the so-called “Juncker Plan” of European investments are much lower, compared to… Mai mult

Sovereign Fund has been voted: Mechanism to remove “states’ pearls” from public control

The voting machine of the Chamber of Deputies (decision chamber) approved on Wednesday – 174 votes for, 98 against and 3 abstentions – the Law… Mai mult

Increase of labour cost, triple compared to GDP growth

The hourly labour cost increased in the first quarter of 2018 by 12.72% compared to the same period in 2017, according to the data announced… Mai mult

Q1 2018 – 4% economic growth compared to Q1 2017, stagnation compared to the previous quarter

The National Institute of Statistics confirmed the last mid-month signal estimate and announced a 4.0% increase in the Gross Domestic Product for the first quarter… Mai mult

IMF, four recommendations and a warning to Romania: Economy is showing signs of overheating

The International Monetary Fund (IMF) recommends Romania a “comprehensive revision of the tax system,” according to the institution’s 2018 annual report. The recommendation has been… Mai mult

Romania, out from list of EU pilot project for increasing absorption of European funds. Commission to help Bulgaria, Poland, Croatia, Greece and Spain

The European Commission (EC) has selected five national or regional authorities from Greece, Spain, Poland, Bulgaria and Croatia to be part of a pilot project… Mai mult

Cohesion funds: Romania, Greece and Bulgaria, only ones in EU with allocations increased by 8%. Other side of coin: Commission links access to money with economic and structural reforms

  Brussels has decided to reform the way of spending one of the largest “slices” of the Community budget – cohesion policies (about one-third of… Mai mult

20% of Romania’s active population is working abroad, while European average of mobile population is 3.8%

The share of Romanians who left abroad in the total active population (aged between 20-64) almost tripled in 10 years – from 7.5% in 2007,… Mai mult

Convergence: Romania only meets one of four economic criteria for adopting euro

“The report concluded that Romania currently meets one of the four economic criteria necessary for adopting the euro, namely the criterion related to public finances.… Mai mult

Income inequality in EU states: Romania goes down to 3rd position

The inequality of income distribution in Romania has diminished in the last two years, and official statistics rushed to send out the improvement in this… Mai mult

Pension Pillar 2: Effects of reducing contributions on large Romanian companies. Danger and solution

Reducing contributions to Pillar 2 of the pension system will also amputate the contribution to future private pensions resulting from investments in large Romanian companies.… Mai mult

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NEWS

Ministry of Finance is drafting a new fiscal framework valid as of January 1, 2019

The Ministry of Public Finance makes a "comparative analysis" of the Tax Code and the Tax Procedure Code with a view to applying a new… Mai mult

Eurostat: Romania and evolution of employee number in public sector in an European context

Romania, Hungary and Slovenia are the member states that recorded the largest increase in the share of public sector employees in the total number of… Mai mult

Fitch confirms Romania's rating at BBB- but warns: fiscal loosening is risky for macroeconomic stability

Fitch Ratings confirmed on Friday Romania's rating for long-term foreign and local currency debt at BBB-, with a stable outlook, but warned that fiscal loosening… Mai mult

"We are working on a tax amnesty mechanism": announcement made by Minister of Finance

Finance Minister Eugen Teodorovici said at a press conference held in Bistrita that "a mechanism of this type is in progress”, a mechanism on tax… Mai mult

AOAR - Economy against new Criminal Code: businessmen denounce excessive protection provided to officials who cause damages to economy

The Businessmen’s Association of Romania (AOAR) asks the ruling coalition to explain the mechanism by which, after changes introduced on Wednesday in the Criminal Code,… Mai mult

Number of insolvencies increased by 12% in first five months. Suspended activities - plus 31%, dissolutions - plus 59%

The increase in the number of companies and PFAs in insolvency was 11.97% in the first five months of this year, compared to the same… Mai mult

Transport infrastructure in Romania needs EUR 70 billion - double as compared to existing resources

The investment needs in Romania's transport infrastructure exceed EUR 70 billion, while the available resources by 2030 are EUR 36 billion, according to the Transport… Mai mult

Refusal to work annuls entitlement to social assistance - bill voted in Chamber of Deputies

Deputies adopted a draft law on Wednesday whereby entitlement to social assistance ceases when a job is refused. The decision, Agerpres announced, was taken with… Mai mult

Subsidy of RON 900/month for employing a graduate based on contracts of indefinite duration

The National Agency for Employment (ANOFM) grants subsidies of RON 900/month to employers who employ graduates of educational institutions, with contracts of indefinite duration, within… Mai mult

C.P. Tariceanu, before the heads of Senates from EU: The European Commission has encouraged the parallel state, in Romania it is like in the 50's

Calin Popescu Tariceanu (foto) delivered a very tough speech on Friday, in the Senate, addressed to the European Commission, which he accused of encouraging the… Mai mult

National Bank of Romania wants to lower indebtedness limit in granting loans to individuals

The National Bank of Romania (BNR) sent to banks for consultation a draft amending Regulation 17/2012, which provides for a consistent lowering of the indebtedness… Mai mult

High impact provisions: Senate has adopted PSD-ALDE amendments to the Code of Criminal Procedure

Senators adopted on Wednesday the draft for amending the Code of Criminal Procedure, by 74 votes for to 28, against. The bill goes to the… Mai mult

RBL: Workforce crisis is worse than economic crisis - 3.4 million Romanians have left the country in last 10 years

Migration is one of the most serious problems facing Romania at this time, along with the lack of infrastructure. However, the return of Romanians to… Mai mult