Fitch Ratings: Romania Election Does Not Allay Medium-Term Fiscal Uncertainty
12.11.2020
Romania’s general election result points to continued political uncertainty and hence a still-challenging policy-making environment and the need to pass a 2021 budget will be a near-term test of the next administration’s cohesion and an indication of likely fiscal policy settings, Fitch Ratings said
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EC Approves EUR254M Aid for Bucharest Heating System Upgrades 02.23.2021
The European Commission has approved an aid of EUR254 million from structural funds to support the upgrade of the central heating system of... more
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Romanian Airline Tarom Plans to Save EUR8M with Staff Cuts 02.19.2021
Romanian state-owned airline Tarom estimates it will reduce its staff spending by an average of EUR8 million a year n the next six months, as it... more
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Romania Could Adopt Euro in 2027-2028, PM Says 02.19.2021
Romania hopes to join the euro area waiting room in 2024-2025 and adopt the single European currency 2027–2028, prime minister Florin Citu said... more
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Romania Seeks to Cap Public Debt at 55% of GDP in 2021 02.12.2021
Romania's government has set a cap on the country's public debt at 55% of gross domestic product for 2021 under EU methodology. more
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Romania Freezes Public Sector Wages to Cut Budget Deficit to 7% in 2021 02.12.2021
Romania's 2021 state budget bill targets a budget gap of around RON80 billion, around 7% of the country's gross domestic product, down from a... more
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Romania Had Nearly 1.25 Million Public Sector Employees End-2020 02.09.2021
Romania had 1.249 million public sector employees at the end of 2020, with nearly 9,000 hired in the last two months of the year, finance ministry... more
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Romania Targets 7% Budget Deficit in 2021 02.08.2021
Romania's government targets a budget gap of 7%-7.1% of the gross domestic product in 2021, prime minister Florin Citu said Monday, adding the... more
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Romania Launches Three New Population Bond Issues on Feb 8 02.05.2021
Romania's finance ministry launches three new bond issues for the general population Monday, February 8, which can be subscribed by February 24. more
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Government Adopts Extension of 9-Month Loan Repayment Moratorium 01.28.2021
Romania's government late Wednesday approved the norms extending a nine-month moratorium on bank loan repayments for debtors affected by the... more
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PwC: Upskilling Could Create 5.3 Million Jobs Globally by 2030 01.26.2021
Accelerated investment in upskilling and reskilling of workers could add at least $6.5 trillion to global GDP and create 5.3 million new jobs by... more
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Bucharest Unemployment Rate At 1.28% In December 2020 01.25.2021
Capital city of Bucharest registered 15,251 jobless people (of whom 8,167 women) at the end of December 2020, taking the unemployment rate to... more
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Vodafone Invests EUR20M to Advance Digital Skills, Education in Romania and 13 Other Countries 01.25.2021
Vodafone announced Monday an investment of €20 million by the Vodafone Foundation to expand digital skills and education programs by funding... more
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European Commission Approves EUR222M Investment For Water Infrastructure In Ilfov County 01.15.2021
The European Commission said in a press statement on Friday that it approved an investment of over EUR222 million from the Cohesion Fund to upgrade... more
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Bucharest City Hall Seeks to Buy Thermal Power Producer ELCEN 01.14.2021
Bucharest general mayor Nicusor Dan said Thursday the city hall intends to acquire state-owned thermal power producer Electrocentrale Bucuresti... more
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Romania Extends 9-Month Loan Repayment Moratorium 01.13.2021
Romania's finance ministry has drafted an emergency decree extending a nine-month moratorium on bank loan repayments for debtors affected by the... more
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Romania Postpones Euro Adoption Calendar on Heightened Macroeconomic Imbalances 01.13.2021
Romania will postpone yet again setting a calendar for euro adoption as the country doesn't meet convergence criteria and faces heightened... more
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BT Analyst: Household Saving Rate At Record High In 2020, Averaging 16.9% In Jan-Sept Under Pandemic Impact 01.12.2021
The household saving rate reached on average 16.9% (a record high) between January and September 2020, higher by 2.3 percentage points compared... more
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European Commission Seeks Talks on Romania's 2021 Budget 01.06.2021
The European Commission seeks to discuss Romania's 2021 budget plan as the fiscal situation in Romania continued to deteriorate substantially in... more
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Romanian Parliament to Receive 2021 State Budget Bill on Feb 4 01.06.2021
Romania's 2021 state budget bill will reach Parliament on February 4, prime minister Florin Citu said Wednesday. more
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Romania To Freeze Public Sector Wages At Dec 2020 Level, PM Citu Says 12.28.2020
Prime Minister Florin Citu on Monday said the salaries of employees in the public sector would be frozen at the level of December 2020. more
FAN Courier, the leading courier services company in Romania, expects to end the year with a turnover of EUR205 million – close to
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Swedish real estate developer Skanska has sold office buildings Campus 6.2 and Campus 6.3 in Bucharest to Austrian developer S Immo,
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SoftOne Romania, a member of Greek investment group Olympia, continues its expansion by acquiring Orosimo Software, a software
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TeraPlast, the parent-company of TeraPlast Group, announced Friday the sale of its window profiles business to Dynamic Selling Group, a
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U.S. automaker Tesla is in a straight line with the opening of a center in capital city Bucharest and, for starters, it seeks to employ
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Romania plans to invest over EUR22 billion in its energy sector in the next ten years, according to the country's draft energy strategy
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Romania will sign a financing agreement totaling $8 billion with the United States for the refurbishment of one nuclear reactor and the
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The European Commission said Monday it has approved, under EU State aid rules, a RON21.3 million (approximately EUR4.4 million)
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DCS Plus, Druid and Tremend are the Romanian companies recognized in the Deloitte 2020 Central Europe Technology Fast 50 program in the
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Pet food and other care product sales will increase by 13% to almost 3 billion lei this year, data provided by market research company
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Romania’s Automotive Industry Loses EUR5B in Revenue Due to Production Halt in Spring
The revenue of Romania’s automotive industry shrank by 15% from more than EUR30 billion in 2019 to some EUR25 billion this year, data from Romania’s carmaker association ACAROM shows.
