News

Daily Newsletter - 21 September 2017

Summary

FIC (1)

Foreign investors: Romania’s current infrastructure could hinder economic growth (Source: romania-insider.com)

Romania's transport infrastructure development has been slow over the past decades due to a combination of lack of prioritization, discontinuity of decision making and poor planning and execution. The figures support this. It used to be that people argued infrastructure would spur economic growth. Romania is rapidly approaching the point, if it has not reached it already, where the current infrastructure will act as a break on growth. To reach a parity in terms of living standards with western economies, Romania needs at least two decades of strong economic growth. The current growth rate will be impossible to maintain in the medium and long term without immediate and massive investments in infrastructure.

FIC: Romania can’t support economic growth on long term without large infrastructure investments (Source: business-review.eu)

FIC: Romania’s long term economic growth is impossible without infrastructure investment (Source: nineoclock.ro)

FIC: High growth without infrastructure is not possible in the long run (Source: romaniajournal.ro)

Long-term economic growth is impossible without infrastructure development (Source: agerpres.ro)

Long-term economic growth impossible without infrastructure development (Source: bursa.ro)

Long-term economic growth is impossible without infrastructure development (Source: feedler.ro)

Long-term economic growth is impossible without infrastructure development (Source: comisarul.ro)

Long-term economic growth is impossible without infrastructure development (Source: ultima-ora.ro)

FIC: High growth without infrastructure is not possible in the long run (Source: cursdeguvernare.ro)

Local infrastructure is biggest check on economic growth (Source: curierulnational.ro)

Local infrastructure is biggest check on economic growth (Source: ziare-pe-net.ro)

Romania's infrastructure lags 20 years behind West (Source: ziare-pe-net.ro)

Foreign investors offer reality check (Source: realitatea.net)

Romanian infrastructure perception worst in EU (Source: capital.ro)

FIC warning (Source: actualdecluj.ro)

FIC: High growth without infrastructure is not possible in the long run (Source: diacaf.com)

FIC: High growth without infrastructure is not possible in the long run (Source: adevarul.ro)

FIC: The state of local infrastructure is a check on economic growth (Source: antena3.ro)

Foreign investors unhappy with local infrastructure (Source: actualmm.ro)

Infrastructure very close to holding economic development back (Source: zf.ro)

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Macroeconomic News (4)

State salaries to go up 5% on January 1 

State salaries will increase by approximately 5% on January 1, 2018, despite the fact that the unified payroll bill stipulates a 25% increase, according to statements made by labor leader Bogdan Hossu at the end of a meeting with Cabinet representatives.

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Dragnea & Co. seek RON 2 billion in additional revenue 

Liviu Dragnea, the leader of the Social Democratic Party (PSD), and his close associates are counting on an extra RON 2 billion in annual revenues from the split VAT system, according to Gelu Diaconu, a former head of ANAF.

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New car sales up 11.6% 

New car sales jumped 11.6% in the first eight months of this year. Passenger vehicle sales are up 14.5%, thanks in part to the Rabla program, according to APIA data.

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Trucking business passes EUR 10 billion 

The economic development and massive investment in the nation's fleets have taken the trucking market above EUR 10 billion last year. More than 34,000 companies make up this market, employing a total of 156,000 workers.

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Financial News (2)

Misa: "CEC Bank will be audited" 

The National Bank of Romania (BNR) has informed the Ministry of Finance that the CEC Bank management procedure has been stalled for the past two years, according to the Minister of Finance, Ionut Misa.

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BNR releases list of active lenders 

After the media scandal surrounding the banks that did not pay profit taxes, the National Bank of Romania (BNR) has also released a list of active lenders.

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Investment News (1)

ArcelorMittal invests EUR 15 million in new production line 

ArcelorMittal Galati, the biggest steel mill in the country, will spend EUR 15 million on a new production line. The line will produce 90,000 tons of steel rolls per year, which will be sold mainly to domestic clients.

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Legislative News (1)

Pension law to be discussed by PSD-ALDE coalition on October 1 

The final version of the pension bill will be discussed by the ruling coalition on October 1, before being sent to the normal approval cycle, according to the Minister of Labor, Lia Olguta Vasilescu.

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Politics (1)

President Iohannis pleads for international order based on rules and principles 

President Klaus Iohannis delivered on Wednesday his speech before the General Assembly of the 72nd UN General Assembly, in New York. The President used the occasion to plead for an international order based on rules and principles.

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