The Minister of Agriculture, Daniel Constantin, announced on Wednesday that drought compensatory payments would not exceed RON 400 per hectare for individual farmers. LAPAR's Laurentiu Baciu said that the Cabinet's decision fails to cover even 10% of the damages.
Prime Minister Victor Ponta announced that the Cabinet is planning to begin a gradual increase of the minimum salary in order to reach RON 1,400 by 2017. "The minimum salary will certainly be RON 1,200 on January 1, 2016. That has already been decided. We would like to reach RON 1,300 on July 1 and RON 1,400 on January 1, 2017," said the PM.
Exports reached in July an all-time high of EUR 5 billion. The good news was somewhat dampened by the fact that imports followed the same trend and reached an all-time high of EUR 5.68 billion. The trade deficit soared past EUR 600 million in a single month. In the first seven months of this year, the trade deficit jumped 16.6% year-on-year, reaching EUR 4 billion, according to the National Institute for Statistics (INS).
The aggregated value of retail and corporate deposits continues to exceed that of loans. The loans to deposits ratio is 93%, compared to 120-130% during the economic boom. Even though the country's macroeconomic situation has improved, the inflation rate is at an all-time low and the National Bank of Romania (BNR) has relaxed the monetary policy, the lending business is still doing poorly.
Eight banks account for 85% of all the POS devices in use at retailers across the country. BRD-GSG has the biggest network, with approximately 26,000 devices in use - a fifth of all the devices in the country. The second and third places went to Banca Transilvania (24,000) and Raiffeisen Bank (14,000).
The Financial Supervisory Authority's (ASF) board approved during Wednesday's meeting the plan submitted by Piraeus Bank Greece to become a significant direct shareholder of Ate Insurance Romania. The board also approved a series of measures designed to strengthen the institutional capacity of the Insurance Holder Guarantee Fund (FGA).
The Sibiu City Hall has launched a EUR 770,000 investment project for modernizing Doinei and Frezorilor Streets, in the Tiglari and Lazaret neighborhoods. The City hall will modernize the water and sewerage networks and rebuild the pavement.
The Oradea City Hall will spend EUR 7.6 million on building a campus for the Partenie Cosma economic school and the Vasile Voiculescu school. Under this project, the City Hall will build a 24-classroom school, a dormitory for 300 students, a mess hall, a club, studios for the professors, workshops and a gym.
The Bistrita Town Hall has started building a ski slope in Unirea, a neighborhood belonging to the city. The EUR 4.4 million project will see the construction of a 70,500 sqm slope, an aerial tramway, an artificial snow installation, an electricity supply network and an access road, complete with parking slots.
A group of UNPR, PSD and PP-DD deputies and senators proposed the establishing of a 13th pension that would be granted every year to retirees whose pensions are below the average gross salary and who don't have any other revenues. The 13th pension would be equal to the minimum gross salary.
The Cabinet approved on Wednesday a bill setting up an ex ante verification system for public procurement tenders. The purpose of the new system is to prevent possible conflicts of interests during the SEAP procurement contracts procedures.
Foreign citizens who had made significant contributions to promoting Romanian culture, civilization and spirituality will benefit from a relaxation of the citizenship rules, according to an ordinance adopted by the Cabinet on Wednesday. The rules could also extend to those who promote Romania's image through exceptional results in sports.
The Ministry of Education issued a press release stating that the request to compile a list of available housing for migrants and refugees in campuses had been sent to the National Committee for Special Emergency Situations (CNSSU), which is headed by Deputy PM Gabriel Oprea.
Jean-Claude Juncker, President of the European Commission, announced during the speech held before the European Parliament that Romania had been allocated 4,646 refugees, on top of the 1,705 migrants allocated through the May proposal. "I am firmly in favor of allowing refugees to work and earn money while their applications are processed," said Juncker.