The economic growth on the first three quarters of 2018 was 4.2%, both in gross series and the seasonally adjusted series, according to data published… Mai mult›
Budget revenue, historical minimum – below two-thirds of EU average as a share of GDP. Declining trend and low values across the board
Romania ranked penultimate among EU member states in 2017 in terms of budget revenues share of GDP, according to Eurostat data. With only 25.8%, our… Mai mult›
Hourly labour costs grew by 13.91% in the third quarter of 2018 compared to the same period in 2017 (+1.53% compared to Q2 2018), according… Mai mult›
“Man, there is still time”/ We meet 13 out of 14 criteria on European dashboard: but how do we overcome two neuralgic points?
According to Eurostat, Romania observed 13 of the 14 indicators set for the scoreboard of the macroeconomic situation in the EU member states last year.… Mai mult›
Romanian research has come below the level registered at the EU accession moment. And it reached one sixth of EU 2020 target
Romania insists on staying on the penultimate position among the European Union member states in terms of R & D expenditure in 2017, according to… Mai mult›
Foreign investors urge Government to stop regulating practice through OUG and return to consultations with business community and society
de Adrian N Ionescu , 8.10.2018
The Foreign Investors Council urges the Government, in the view of the proper functioning of the economy, to stop the regulating practice through emergency ordinances and return to serious consultations, especially when it wants to change the rules in the economy.
The Foreign Investors Council – FIC has noted lately, according to a release issued on Thursday, a change in the way decision makers, and especially the Government, deal with decisions that affect the business environment and Romanian society overall.
“The Government creates for itself, but also for citizens and the business environment, the wrong feeling that the economy faces insurmountable problems and that at any moment a regulation has to be adopted with exceptional speed to correct things.
Official data shows a certain level of stability of the macroeconomic indicators that contradicts this sentiment. Even though there are legitimate concerns about the availability of the workforce, inflation or deficit levels, Romania’s economy is currently operating at normal parameters and should be treated as such“, says the business environment.
The release states: We, therefore, believe that for the good functioning of the economy, the Romanian Government should not continue to adopt or amend fundamental legislation through emergency ordinances (OUG) and especially without a real and structured consultation with the business community and relevant parties.
The fact that some legislative changes were announced at the beginning of the mandate through the government program does not justify their adoption through OUGs. Their mere announcement is not a consultation. Similarly, the Government cannot use the argument that these changes are useful to the business environment as they do not meet two key elements: transparency and predictability.
OUGs, like any legislative initiative, need a period of consultations, the understanding of the mechanisms to be adapted, and a minimum assessment of the implementation effort. That is why, according to the regulations in force, there is a necessary time allocated to public consultations (10-30 days) but also a certain institutional opinion process, which we regretfully find that the Government tries and succeeds more and more often to complete within 24-72 hours.
Only in the last 12 months topics of an overwhelming importance were the object of OUGs: transfer of social contributions from employer to employee, public-private partnerships, remuneration of staff paid from public funds, budget amendment, public procurement, absorption of European funds, insolvency law, Sovereign Investment and Development Fund, Tax Code and Tax Procedure Code, etc.The FIC believes that most of the measures adopted by the Government should take the form of draft laws that would then be debated in the Romanian Parliament. Such a law-making process, using Parliament’s legal role, will produce laws better suited to the real and more stable economy over time. This approach would provide more opportunities for consultations with relevant parties either when a draft is promoted by the Government or during the parliamentary debates.
We invite the Government and the Prime Minister to a wide debate on the quality of the law-making process in Romania and on the dialogue with the business community, to which the FIC is prepared to contribute with professionalism. We consider that it would be for Romania’s benefit for this dialogue to be carried out in a formal framework, with technical arguments, in a transparent manner and the result will be reflected in the quality of the legislation adopted. FIC members express their full availability to constructively discuss any measure of the government program or the economic policies that the Government considers as necessary. “
Lăsați un comentariu
The benchmark government bond yield jumped above the 5% threshold on Thursday. The Ministry of Public Finance (MFP) attracted RON 300 million from banks on… Mai mult›
The Ministry of European Funds has taken out Iasi-Tg. Mures highway project from the Large Infrastructure Operational Programme 2021-2027 and the Ministry of Transport already… Mai mult›
Senate postpones discussions on DNA’s request on waiving immunity of Calin Popescu Tariceanu until February 2019
The Senate has decided that it will put to the vote the decision to waive Calin Popescu Tariceanu's immunity only in the spring session, that… Mai mult›
Implementation of 5G technology, a multiplication effect in economy of EUR 4.7 billion - announces Sorin Grindeanu (ANCOM)
The National Authority for Management and Regulation in Communications (ANCOM) launched on Wednesday the National Strategy for the Implementation of 5G Technologies in Romania for… Mai mult›
Some of the amendments to the criminal codes will generate mistrust regarding Romanian state's ability to ensure the legality, stability and predictability of business relationships… Mai mult›
European Semester / European Commission asks Romania to correct its medium-term structural deficit by 1% of GDP
Minister Eugen Teodorovici is pressured by the EU to reduce the budget deficit After finding that the Government has done nothing to adjust the deviation… Mai mult›
The Government adopted on Thursday the ordinance that provides for the general framework for the establishment of a Sovereign Fund. Later, after new talks with… Mai mult›
The representatives of Ford Craiova met on Wednesday with mayors of 30 localities from Dolj county in order to stimulate the attraction of 1,700 new… Mai mult›
Development strategy / Government squeezes even investment money from its own companies: EUR 120 million from only two entities in energy field
Nuclearelectrica (SNN) and Romgaz (SNG) have calculated the additional dividends to be paid to the state after the Ministry of Finance (MFP) sent to the… Mai mult›
DNA, officially: Senate President is suspected of having received a USD 800,000 bribe. Case file opened at a request from Austrian judicial authorities
The case file in which the DNA requested the waiving of the Senate President’s immunity was opened at the request of Austrian judicial authorities and… Mai mult›
Romania has to recover illegal state aid worth EUR 60 million granted to Compexul Energetic Hunedoara, announced the European Commission with a statement released on… Mai mult›
The Ministry of Public Finance (MFP) intends to borrow in November RON 4.74 billion, 1.4% more than in the previous month, according to the Ministry.… Mai mult›
IRUM Reghin launched the first 100% Romanian tractor, announced Digi24, designed and built by the company’s engineers, 15 years after the Romanian tractor manufacturing disappeared.… Mai mult›
Romanians from abroad sent as much money to Romania as Government attracted from European funds and subsidies
Romanians working abroad sent EUR 2.695 billion to the country in the first eight months of 2018, equalling the European funds and subsidies received in… Mai mult›