Romanian Lawmakers Amend Law to Raise 2019 Deficit Target to 2.76% of GDP
02.15.2019
Romania's lower chamber of Parliament on Friday adopted an amendment to the national law capping the budget deficit to raise the deficit target to 2.76% of gross domestic product for 2019 from the previous target of 2.55% of GDP.
-
Romanian Parliament Adopts 2019 State Budget 02.15.2019
Romanian lawmakers on Friday adopted the 2019 state budget with 275 to 122 votes. more
-
Central Bank Says Disconnecting Bank Tax from Money Market Rates Is Crucial 02.15.2019
Board members of Romania's central bank said it is essential that the country's new tax on banks' financial assets is disconnected from benchmark... more
-
Parliament Approves 2019 Budget Amendment Increasing Child Allowances 02.14.2019
The combined chambers of the Romanian Parliament approved on Thursday a Liberal Party amendment to the 2019 budget bill which raises allowances for... more
-
Finance Ministry Official Says Bank Tax on Assets is Quarterly 02.14.2019
Romania's tax on banks' financial assets is to be levied quarterly on the quarterly assets balance, an official at the Ministry of Finance said... more
-
EC Allots EUR517M for Bucharest Airport Metro Line 02.13.2019
The European Commission on Wednesday approved EUR517 million financing for a new metro line in Bucharest that would eventually run to the Otopeni... more
-
Isarescu Says Bank Tax Is an Attack on Central Bank Independence 02.12.2019
Romanian central bank governor Mugur Isarescu said the tax on bank assets is an attack on the independence of the institution, as it hinders... more
-
Central Bank Governor Tells Senators How ROBOR Index Works 02.12.2019
The money market interest rate known as ROBOR was not manipulated, central bank governor Mugur Isarescu told members of the Senate's budget and... more
-
Romanian Government Adopts 2019 Budget, Targets Deficit at 2.55% of GDP 02.08.2019
Romania's government on Friday adopted the 2019 state budget, built on an economic growth projection of 5.5%, which critics said is overly... more
-
FP Warns Order on Regulated Energy Prices Will Lower State Revenues, Reduce Investments 02.06.2019
Investment fund Fondul Proprietatea on Wednesday said it has serious concerns about the highly detrimental impact on energy companies, investments... more
-
Fiscal Council Says Govt's 5.5% GDP Growth Projection Is Surprising, Unwarranted 02.05.2019
Maintaining an economic growth projection of 5.5% in 2019 especially after the emergency decree 114/2018 introducing new taxes is surprising and... more
-
Fitch Ratings: Romania 2019 Budget Fails to Lift Fiscal Uncertainty 02.05.2019
Romania's draft 2019 budget targets a reduction in the budget deficit, but is based on optimistic assumptions and fails to clarify uncertainty over... more
-
Romanian Government To Issue Household Bonds With Up to 5% Interest 02.04.2019
Romania's finance ministry will seek to borrow money from households instead of banks, with three new household bond issues with interests of up to... more
-
AmCham Warns of Speedy Decrease in Quality of Public Policy, Law-Making, Governance In Romania 02.01.2019
The American chamber of commerce in Romania (AmCham Romania) on Friday warned of the accelerated decrease in the quality of public policy,... more
-
Romania Seeks to Raise CEC Bank Capital By RON940M 02.01.2019
Romania's finance ministry plans to raise the share capital of state-owned CEC Bank by RON940 million, according to the 2019 state budget draft... more
-
Romania Drafts 2019 Budget on 5.5% GDP Growth, Targets 2.55% of GDP Deficit 02.01.2019
Romania's government targets a deficit of 2.55% of gross domestic product and expects economic growth of 5.5%, according to the 2019 state budget... more
-
Romania To Cap Electricity, Natural Gas Prices for Households Until 2022 01.29.2019
Electricity and natural gas prices for household consumers will be kept unchanged until 2022 under provisions of a government decree and secondary... more
-
Romanian Energy Companies Expect Loss, Staff Cuts Over Additional Energy Tax 01.23.2019
Energy companies in Romania expect losses and are considering staff cuts due to an additional tax the government decided to levy on the energy... more
-
New Bank Tax Prompts BCR to Revise All Investment Plans, CEO Says 01.18.2019
Romanian lender Banca Comerciala Romana (BCR), majority owned by Austrian Erste Group, is reconsidering all its investment plans due to the new tax... more
-
Romania Imports 1,400 MW After Shutting Down One Power Unit Amid Coal Miners' Strike 01.17.2019
Romania is currently importing over 1,400 MW, the equivalent of its nuclear power plant output, due to the shutdown of one thermal power unit amid... more
-
Pillar II Private Pension Funds Had Assets RON48.1B End-November 01.07.2019
Net assets of mandatory private pension funds in Romania (Pillar II) stood at RON48.1 billion at the end of November 29018, up 23% on the year,... more
The lending rebound, the rise in interests and the improvement of portfolio quality helped Romania’s banking system post an
more
Companies Bog’Art SRL Bucuresti, Construcţii SA Sibiu, Kesz Constructii Romania SRL Cluj and Porr Construct SRL Bucuresti have
more
German Zeitfracht Group has joined the shareholding structure of low-cost airline Blue Air, holding 10% of the airline’s share
more
Office building transactions in Romania reached the highest level of the last decade in 2018, of EUR957 million, according to the
more
Chitila represents the future logistics hub of capital city Bucharest, for both warehouses and the light industrial production, in the
more
The World Bank has revised its economic growth projections for Romania and now sees GDP growth at 3.5% in 2019 from 4.5% in its June
more
Swiss giant Nestle, one of the largest players on the Romanian consumer goods market, will close its Romanian factory, located in the
more
Fiscal instability is the main challenge for businesses this year, influencing investors' appetite for doing business in Romania,
moreAnalysis
Central Bank: Banking Sector Has Limited Capacity to Sustain Current Profitability Long Term
The Romanian banking sector, which consists of 35 banks, in its present structure has a limited capacity to sustain the recent profitability over the long term, the central bank said in a report.
