News

Daily Newsletter - 27 January 2020

Summary

Macroeconomic News (3)

Romania attracted EUR 11 billion in EU funds

Romania has attracted EUR 11.04 billion in EU funds so far, under the Cohesion Policy and Common Agricultural Policy of the current budget (2014-2020), plus another EUR 7.92 billion in direct payments to farmers, according to State Secretary Carmen Moraru, from the Ministry of European Funds (MFE).

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Budget deficit to hit US level

The United States reported a budget deficit of USD 1,000 billion, the equivalent of 4.7% of the GDP, similar to the latest evaluation of Romania's deficit for 2019. The latest data released by the Ministry of Finance pointed to a 3.56% deficit at the end of November, 2019. Minister Catu stated that the deficit would exceed the European Union's cap.

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Increase in number of nights spent by tourists

The number of nights spent by tourists in the European Union's hospitality locations passed 3.2 billion in 2019, up 2.4% compared to 2018. The biggest growth rates were reported by Slovakia (12.6%), Lithuania (10%), Netherlands (6.8%), Great Britain (5.7%) and Romania (5.6%), according to Eurostat.

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Financial News (2)

BT shares topped liquidity index

Banca Transilvania shares topped the Bucharest Stock Exchange's (BVB) liquidity index last week, generating trades worth more than RON 81.59 million, followed by OMV Petrom (RON 31.6 million) and the Proprietatea Fund (RON 26.59 million).

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Financial sector wants labor contracts modified

The players of the non-banking financial market and the relevant consumer protection associations forming the Consumer Protection Group (GPC) attached to the Financial Supervisory Authority (ASF) adopted an opinion supporting the modification of the secondary legislation in order to make it mandatory for employers to notify their employees about the possibility of opting for a certain private pension fund.

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Investment News (2)

MApN launched EUR 50 million auction

The Ministry of Defense (MApN) has launched an auction for the acquisition of satellite circuit rental services worth up to EUR 46.3 million, according to the official announcement published on the SICAP platform by Military Unit 02415 Bucharest.

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Government to finance genomics institute

Romania will have its own National Genomics Institute (ING), which will allow the country to make progress in human genetics, according to the Minister of European Funds, Marcel Bolos. This will be the first pan-European medical research infrastructure in South-Eastern Europe in the field of genomics.

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Legislative News (2)

Minister of Finance says child rearing aid bill cannot be funded

The bill doubling the child rearing aid cannot be funded, according to Minister of Finance Florin Catu. The Minister added that he had not advised President Iohannis to send the bill back to Parliament for revision.

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Vaccination bill given emergency priority

Paul Stanescu, the interim Secretary General of the Social Democratic Party (PSD), said the party supports an emergency discussion and passing of the bill making vaccination mandatory. The bill has already been passed by the Senate and is now on the Chamber's floor.

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Politics (2)

Ciolacu: I still think the motion of censure will pass

Marcel Ciolacu, interim leader of the Social Democratic Party (PSD), said the motion of censure will pass. The motion has so far been signed by PSD and UDMR MPs. "We'll hold a vote on the 28th, as promised, on the elimination of special pensions. The prime minister will come on the 29th and take responsibility for the local elections bill. We have three days to submit the motion," said Ciolacu.

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Rares Bogdan: Ludovic Orban has no reason to resign

MEP Rares Bogdan said Prime Minister Ludovic Orban has no reason to resign if the Social Democratic Party's motion of censure fails to pass. Bogdan assured the public that the PNL would not vote against its own cabinet.

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Social (1)

Hundreds of young people selected for DiscoverEU

More than 800 young Romanians have been selected to receive travel permits in the fourth round of the DiscoverEU program, through which European young people aged 18 can travel free in the EU area.

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