News

Daily Newsletter - 27 July 2017

Summary

FIC (2)


Foreign Investors Council (FIC) warns that Romania’s healthcare system must be a priority (Source: business-review.eu)

Between 2013-2016 FIC rolled out a campaign called De profesie: Medic in Romania which focused on the declining number of health professionals in the country. Ours was one of the first organisations outside the healthcare sector to talk publicly about the availability of qualified personnel in the healthcare sector and the impact on well-being and long term economic growth. Our community continues to be worried about the healthcare system in Romania which has significant impact on the population at large and consequently on economy.

Medical reforms should be linked to demographic development (Source: rfi.ro)

FIC is concerned about Romania's medical system (Source: ziarero.antena3.ro)

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Romanian authorities approved only 50 new drugs in the past 8-10 years (Source: monitorulcj.ro)

FIC believes that any measures regarding the healthcare sector should be carefully weighted and discussed with all stakeholders so that they do not contribute to a worsening of the social and economic conditions. FIC believes that the healthcare of Romanian citizens is important for the future of this country. Therefore, we believe concrete action is needed on two important pillars: sustainability and quality of care.

Romanian authorities approved only 50 new drugs in the past 8-10 years (Source: crainou.ro)

Romanian authorities approved only 50 new drugs in the past 8-10 years (Source: 24-ore.ro)

Ten times fewer drugs (Source: ziarulevenimentul.ro)

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Macroeconomic News (4)

Real estate market deals above EUR 400 million in H1 

The real estate investment market surged in the first half of this year, as the aggregated value of deals passed EUR 400 million, according to a study released on Wednesday. The industrial and retail space markets reported major deals, such as the acquisition of a Dacia Pitesti warehouse by Globalworth for EUR 42.5 million.

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Local employees see massive pay rise 

Romanian employees received one of the biggest increases in real pay in the European Union, but the rising inflation rate is expected to depress salaries in 2018, according to the Salary Budget Planning Report published by Willis Towers Watson on Wednesday. The report put the average local salary increase at 4.5%.

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State budget in bad shape 

The state budget "doesn't look too good" at the end of the first half of 2017 because of what Prime Minister Mihai Tudose called "a huge blockage". The PM said last week that some ministries have completed only 2% of their work this year. Deputy PM Shhaideh noted last week that the budget would be revised in August, at the latest.

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MFP keeps budget under control by slashing investment 

The general consolidated budget should have reached a RON 12.2 billion deficit at the end of the first half of 2017, according to the Ministry of Finance's estimates. However, the actual figures released by the Ministry showed a deficit of only RON 6.3 billion.

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Financial News (2)

RON-denominated overdue loans down 5.27% 

The aggregated value of RON-denominated overdue loans, both retail and corporate, was RON 5.7 billion in June, down 5.27% from the previous month. Overdue loans denominated in foreign currencies dropped 2.7% to RON 6.6 billion, according to the National Bank of Romania (BNR).

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Banca Transilvania announced bonus program 

Banca Transilvania announced on Wednesday evening the bonus program for the financial performance of 2016. Good employees will receive a total of 17 million shares for free.

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Investment News (1)

GIH: Romania should invest USD 237 billion in infrastructure by 2040 

Romania should invest USD 237 billion in infrastructure by 2040. However, only USD 226 billion are expected to be poured into such projects, if the current pace is maintained, according to a report released on Monday by the Global Infrastructure Hub, an initiative supported by G20.

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Legislative News (2)

Part-time contract tax rules changed 

The decree that changes the taxation rules for part-time labor contracts was published in the Official Monitor and will come into force on August 1. The government has dropped the idea of demanding statements from people who earn incomes from two or more contracts and will come up with another procedure.

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Personal insolvency law postponed 

The enforcement of the personal insolvency law will be postponed again, this time at the request of the Superior Council of Magistrates (CSM), according to lawyer Gheorghe Piperea, honorary advisor to the prime minister.

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Politics (1)

Dragnea's defeat 

Liviu Dragnea, leader of the Social-Democratic Party (PSD), sent Marian Neacsu to Timisoara with a mission to remove Sorin Grindeanu's man from the top position of the Timis county organization. However, Neacsu was forced to return to Bucharest empty handed in the face of united opposition from PSD mayors.

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