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IMF mission estimates 3.7pc of GDP budget deficit in 2017, warns there’s no more room for tax cuts

By   /  19/03/2017  /  Finance, RO Finance, Romania  /  No Comments

  The International Monetary Fund (IMF) estimates a budget deficit of 3.7% of the PDG this year and of 3.9% of GDP in 2018, the head of the IMF mission for Romania, Reza Baqir, said on Friday during a press conference. “For this year we estimate that, unless other measures than the one included in […]

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Highest EUR/RON exchange rate in the past four years and a half

By   /  14/03/2017  /  Finance, RO Finance, RO Social, Romania, Social  /  No Comments

  The European currency reached on Monday a new record level against the national currency, at the National Bank of Romania (BNR) official rates. EUR has appreciated by 0.33 bani to RON 4.5538, exceeding the record registered last Wednesday of RON 4.5512 and the previous one on June 7, 2013 of RON 4.5535. The EUR […]

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Euro hits this year’s high against Romanian currency – RON 4.55/EUR

By   /  08/03/2017  /  Finance, RO Finance, Romania  /  Comments Off on Euro hits this year’s high against Romanian currency – RON 4.55/EUR

  The European currency was Wednesday quoted by National Bank of Romania (BNR) at RON 4.55, the highest level since the beginning of this year. Thus, RON reached the lowest level in almost four years against EUR. On Tuesday, the euro was quoted at RON 4.53. Euro started January with the value of RON 4.51 […]

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EC has improved the forecasts for Romania: GDP to grow by 4.4 pc in 2017

By   /  13/02/2017  /  Finance, RO Finance, Romania  /  Comments Off on EC has improved the forecasts for Romania: GDP to grow by 4.4 pc in 2017

  Real GDP is forecast to grow by 4.4 percent in 2017 and 3.7 percent in 2018, European Commission (EC)’s Winter 2017 Economic Forecast reveals on Monday. The estimates were revised up from autumn forecast, when Community Executive estimated that the Romanian economy will register an advance by 3.9 percent in 2017 and of 3.6 […]

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Technical glitch on Romanian side causes 15km queue of lorries at Bulgaria’s Danube Bridge 2

By   /  22/01/2017  /  BG Business, BG Finance, Bulgaria, Business, Finance, RO Business, RO Finance, Romania  /  Comments Off on Technical glitch on Romanian side causes 15km queue of lorries at Bulgaria’s Danube Bridge 2

A technical problem on the Romanian side of the border caused a 15km-long queue of lorries at Bulgaria’s Danube Bridge 2 in the northern city of Vidin on January 22. Bulgaria’s Road Infrastructure Agency ordered restrictions on the movement of lorries on the E79 main road in the direction of Vidin. Because of waiting goods […]

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Gov’t to postpone VAT cut, elimination of pole tax and over-excise upon Liviu Dragnea’s request

By   /  13/12/2016  /  Finance, Politics, RO Finance, RO Politics, RO Social, Romania, Social  /  Comments Off on Gov’t to postpone VAT cut, elimination of pole tax and over-excise upon Liviu Dragnea’s request

The Dacian Ciolos government is to postpone by one year the implementation of the Tax Code amendments, i.e. the VAT cut from 20% to 19%, the elimination of the pole tax (tax on special constructions) and of the over-excise on fuel. The measures were requested by PSD leader Liviu Dragnea in a phone conversation with […]

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UniCredit: Romania would need 20 years to join the eurozone considering the current pace of economic growth

By   /  04/11/2016  /  Finance, RO Finance, Romania  /  Comments Off on UniCredit: Romania would need 20 years to join the eurozone considering the current pace of economic growth

Romanians could reach the salaries close to those of in Western Europe countries, such as Germany and France, in more than 20 years, in the context where the economic growth is neither fast enough nor quite sustainable to support a faster reduction of the gap, Dan Bucsa, lead CEE economist within UniCredit Bank London, stated […]

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EBRD has revised upwards Romania’s economic growth forecast in 2016 to 4.8 pc

By   /  03/11/2016  /  Business, Finance, RO Business, RO Finance, Romania  /  Comments Off on EBRD has revised upwards Romania’s economic growth forecast in 2016 to 4.8 pc

European Bank for Reconstruction and Development (EBRD) has revised upward on Thursday, the economic growth forecast for Romania for 2016 from 4 percent to 4.8 percent and from 3.5 percent to 3.7 percent forecast for 2017. “South-eastern Europe as a whole is on the rise. Greece is turning around thanks to a good season for […]

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IMF report warns Romania on risks related to the budget deficit

By   /  02/11/2016  /  Finance, RO Finance, Romania  /  Comments Off on IMF report warns Romania on risks related to the budget deficit

The International Monetary Fund (IMF) warns Romania about the risk of deterioration of the budget deficit in the context of rising state expenditures, particularly on wages, along with tax cuts. The IMF maintains its estimates of economic growth in Romania in 2016 and 2017 of 5% and 3.8% respectively, the highest growth rate in Europe […]

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President Iohannis appears sceptical on wage increases

By   /  02/11/2016  /  Finance, Politics, RO Finance, RO Politics, RO Social, Romania, Social  /  Comments Off on President Iohannis appears sceptical on wage increases

Labour Minister: Irresponsibility Deputy PM: Challenge to the Constitutional Court President Klaus Iohannis said on Wednesday, regarding the law on wage increases, that it is hard to say that he can agree with such provisions voted by Parliament on ‘the last two meters’ before the election. “It’s hard to say that one agrees with the […]

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