11 iun 2012

The World Bank has scheduled for Tuesday the meeting of the Board which will discuss granting the EUR1 billion loan to Romania, Stefan Nanu, Romania’s representative at the international financial more

8 iun 2012

The depreciation of the leu towards RON5 per euro would affect Romanians whose loans in euros are worth EUR3.5 billion and would lead to a deterioration of banks’ loan portfolios and an increase in more

7 iun 2012

The National Bank of Romania doesn’t plan on sitting idly by, but will use all the instruments at its disposal if an excessive appreciation of the US dollar might endanger the price stability and more

22 mai 2012

Romania’s public debt is approaching its sustainability limit, 40% of GDP, the maximum level accepted by investors. At the price of creating a liquidity buffer, the growth of the public debt was more

21 mai 2012

The fast, excessive and erratic reduction of lending by euro zone banks on the local market is the greatest risk threatening Romania, the central bank (BNR) believes, as a consequence of the more

21 mai 2012

Almost 1,000 companies with bank deposits above 100,000 liquidated their deposits, while the number of depositors holding less than that amount fell by 7,800, according to the bank deposit guarantee more

18 mai 2012

The depreciation of the Romanian leu is helping exporters and encourages lending in local currency, but it is also boosting non-performing loans and increases people’s fears, which will impact more

11 mai 2012

The significant reduction in the exposure of eurozone parent banks to financial markets in the region, including Romania, and the higher volatility of capital flows in general, have become two of the more

7 mai 2012

The gradual restoration of public sector wages and paying back health insurance contributions collected from pensioners could have a negative impact of about 1.7 billion lei (about EUR400 million), more

4 mai 2012

High officials are tossing the issue of increasing public sector wages back and forth, while the Romanian currency is depreciating and rating agencies warn that a prospective increase in the budget more

1 mai 2012

Prime Minister-designate Victor Ponta said, after the “informal” talk with the joint delegation of the International Monetary Fund, the European Commission and the World Bank, that there are more

27 apr 2012

The spectacular rise of collection from the corporate tax and the higher amount attracted to the budget in March from individual income taxes contributed to the rise of budget revenues by 16.2% more

25 apr 2012

Romania's budget deficit in the first two months was the same as in 2011, while public debt continued to rise fast because of the Finance Ministry's policy to borrow aggressively from markets for fear more

18 apr 2012

Romania wants a new safety net from the World Bank – a EUR1 billion line of credit that would allow the Finance Ministry to cover financing needs if turmoil intensifies on the financial markets. more

17 apr 2012

International Finance Corporation, the investment division of the World Bank, has shown its willingness to help banks process non-performing loans and invested in funds that restructure such loans, more

11 apr 2012

After years in which the authorities and politicians have just talked about taxing agriculture, the Finance Ministry readily admits “agriculture is less taxed than the rest of economic sectors,” more

4 apr 2012

Bank profitability is expected to remain low in the short term in Romania, as the favorable impact on the banking system of the return to economic growth will come with a lag. But profits will pick up more

3 apr 2012

The first quarter came with mixed signals about the rebound of the economy. The macroeconomic picture is quite negative, according to the data announced so far, and certain events show the local more

2 apr 2012

Achieving the deficit target of 1.9%-2.1% of the gross domestic product in 2012 will entail a freeze in public sector wages and pensions and will not leave room for cuts in VAT or social security more

29 mar 2012

Back when the previous stand-by arrangement was in place, IMF experts proposed the creation of a bad bank, which would manage ailing assets in the form of non-performing loans in the banking system. more

27 mar 2012

Romania’s budget was fully affected by the bad weather in February, moving from a surplus of 0.2% of GDP in January to a deficit of 0.4% of GDP in February. more

26 mar 2012

Almost 30,000 Romanians and 240,000 companies had their accounts frozen by fiscal authorities after they failed to pay their taxes. more

23 mar 2012

The revision of the economic growth forecast to 1.7% is the first official acknowledgement that the gross domestic product this year will be lower than the expectations in 2011, around which the more

21 mar 2012

The leu's depreciation towards 4.4 against the euro could support the strategy recently adopted by Romania's central bank to encourage lending in lei, and could amount to a breath of fresh air for more

19 mar 2012

Romania’s exposure to foreign currency loans, the country’s biggest vulnerability, has increased instead of falling in the three years since the start of the international financial crisis. more