News

Daily Newsletter - 8 August 2019

Summary

FIC (1)

CDR complains of lack of transparency

The members of the Coalition for Romania's Development (CDR) complained about the lack of consultation and transparency regarding the fiscal and budget measures announced by the Ministry of Finance, part of the budget revision process. The organization urged the Cabinet to observe the "repeated" promises made in the past years to refrain from imposing new taxes without consultation and without a period of preparation.

Business coalition takes stand on Romanian government over failure to consult about new taxes

CDR criticizes budget revision

CDR urges Cabinet to observe own promises

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Macroeconomic News (3)

Average net salary up 15.5%

The average net salary increased by 15.5% in June, compared to the corresponding month of 2018, reaching a total of RON 3,142. The real gain was 11.2%, according to data released by the National Statistics Institute (INS) on Wednesday.

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More than RON 200 million paid to tomato farmers

The Ministry of Agriculture and Rural Development (MADR) announced that it had transferred RON 201.5 million to the County Agricultural Directorates (DAJ) in order to pay subsidies to tomato farmers registered with Phase 1 of the national program. Of the 19,166 farmers registered with Phase 1, 14,398 have already received their subsidies.

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1.7 million tons of maize and 1.5 million tons of wheat exported in four months

Romania exported 1.78 million tons of maize and 1.52 million tons of wheat and maslin in the first four months of this year, according to data released by the Ministry of Trade and Entrepreneurship (MMACA). Maize exports were up 242,305 tons compared to the corresponding period of 2018.

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Financial News (3)

Romanian banking employees paid among lowest salaries in region

Romanian banking employees are paid some of the lowest banking salaries in the region. The EUR 718 average salary exceeds only Bulgaria's EUR 586 average. The best paid banking employees work in the Czech Republic and are paid an average of EUR 931 per month, followed by Lithuania with EUR 930.

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National currency lost ground in first seven months

The national currency dropped 4.25% against the US dollar and 3.5% against the Swiss franc in the first seven months of this year. The depreciation against the euro was 1.5%, thanks to a modest recovery in July. The foreign currency reserves increased in July.

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Raiffesen Bank to launch contactless mobile payments

Raiffesen Bank has decided to give clients the option to make contactless payments using their mobile phones at the retailers' POS units, via the Android RaiPay application. The app allows clients to use their Raiffeisen debit and credit cards for POS payments, including interest-free installments, using the NFC technology.

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Investment News (2)

Altex to open new Buzau store

Altex will open today a store in the newly built wing of Buzau's Aurora Shopping Mall. The new store will occupy more than 1,450 sqm of retail space and was set up at a cost of more than EUR 2 million.

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Constanta "Delfinariu" to be expanded

The Constanta "Delfinariu" will be expanded under an investment project worth EUR 5.6 million. 70% of the funds will come from the Ministry of Tourism, while the reminder will be provided by the County Council. The work is expected to be completed in two years.

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Politics (2)

Tariceanu in PSD game

Calin Popescu Tariceanu posted on Facebook on Wednesday that he had met with Victor Ponta in order to discuss a political alliance between ALDE and PRO Romania. The target of this piece of information was the Social Democratic Party (PSD).

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Ciolos releases Barna support message

Dacial Ciolos has sent a message supporting USR leader Dan Barna, saying Barna would not be an actor-president, nor a spectator-president, but an arbiter-president, a mediator. "A president who could gain the trust of Romanian citizens that he can unite, he can mobilize all parts of society to support a new project for Romania," said Ciolos.

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Social (1)

FSLI complains of hiring freeze

The Federation of Free Education Unions (FSLI) has urged the government to refrain from imposing a hiring freeze on education, warning that many of the country's more than 6,500 institutions of learning have unique positions. The federation also complained about the RON 500 million proposed reduction of the Ministry of Education's budget.

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