Daily Newsletter - 16 March 2020


FIC (1)

Coronavirus in Romania: Foreign and local companies propose 100 measures the Govt. can implement to save the economy

The Foreign Investors Council and Concordia Employers' Confederation, two of the biggest business organizations in Romania, have proposed to the Government a set of over 100 urgent measures that would help the business environment overcome this critical moment and protect the consumers from the indirect effects of the coronavirus epidemic. “The authorities and the business environment must have a three-dimensional approach: maintaining the socio-economic balances and the fiscal-budgetary ones, concrete actions on the most affected and important sectors and creating a risk matrix, so that they are prioritized depending on how the situation evolves in the economy. State support measures are needed to prevent blockages or bankruptcies of otherwise healthy sectors or companies, and the state itself needs resources. The Foreign Investors Council and Concordia Employers' Confederation consider that a constructive approach from the authorities is important. Companies are here to be consulted.,” the two business organizations said in a press release.

FIC and CPC launch document

FIC joins chorus of demands

Major companies propose 100 urgent measures

FIC and Concordia put forward 100 measures to save business community

Ludovic Orban on state of emergency

Coronavirus in Romania

FIC and Concordia put forward 100 measures to save business community

FIC and Concordia put forward 100 measures to save business community

Employers ask for help

Covid-10 Crisis

Business support measures

Business community puts forward 100 measures to overcome coronavirus crisis

Business community puts forward 100 measures to support businesses

One hundred measures proposed by big companies

Employers send least of 100 measures

Employers demand 100 urgent measures to protect economy

Employers demand 100 urgent measures

List of 100 urgent measures


Macroeconomic News (3)

Orban floats drug price caps

A budget adjustment before the legal deadline and a cap on the price of drugs and medical products are some of the measures that may be featured in the presidential decree declaring the state of emergency, according to statements made by Prime Minister Ludovic Orban on Sunday evening.


Guarantees for SMEs

"A small part of the substantial economy support package. We are ready to provide guarantees for SMEs to have access to working capital with ZERO interest, with an extended grace period and no fees, worth up to RON 10 billion. The positive impact on the economy estimated at about 70 billion lei !!!," wrote Finance Minister Florin Citu.


Orban: We'll consider a possible IMF loan

The government will analyze a possible loan from the International Monetary Fund (IMF) if this possibility exists, according to Prime Minister Orban, The PM added that this option has not been discussed so far and that the state has no problem financing its expenses at this time.


Financial News (1)

ANPC head proposes 90-day delay in installment payments

The National Consumer Protection Authority (ANPC) is considering a 90-day delay in the payment of loan installments, not just housing loans, because of the coronavirus pandemic, according to ANPC head Paul Anghel.


Investment News (1)

OMV postpones investment

Austrian group OMV, which controls Petrom in Romania, has announced that it was postponing the investment decision for the Neptun Deep Black Sea perimeter and would take a decision at the beginning of next year, announced Rainer Seele, the company's head.


Politics (2)

Ciolacu: We're waiting for concrete measures

PSD Acting President Marcel Ciolacu said he was waiting for Prime Minister Ludovic Orban to announce a plan featuring concrete measures to protect citizens in the face of the coronavirus epidemic. According to Ciolacu, the public has heard so far nothing but tips on "how to walk around".


Election schedule depends on coronavirus

Prime Minister Ludovic Orban says he has agreed with parliamentary parties that the local elections should be held on June 28. Depending on the evolution of the coronavirus epidemic, a decision will be made on whether or not the election will be postponed.


Social (2)

Retailers urge restraint

AMRCR, the organization representing the major retail chains operating in Romania, is urging all consumers to show restraint and wisdom when shopping. The organization added that stores have enough goods in stock.


State of emergency declared

President Klaus Iohannis declared a state of emergency, starting today. "It is very important that measures be taken in time, so that they show results, and to make this fight possible (...) I decided to decree the state of emergency at the beginning of next week," said Iohannis.