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News in Economy
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Romania could record a 2% economic growth in 2011 after two years of recession, and cut its budget deficit to 4.4% of GDP, but political risks remain high, Fitch rating agency believes. read more...


Romania’s economic sentiment index edged slightly higher to 81.6 points in December, from 81.1 points in the previous month, mainly helped by advances in services and construction, a widely watched European Commission monthly survey showed Thursday. read more...


03.01.2011, 00:15 | 405 views
2011 economy outlook
The highlights of 2011 are the potential economic growth, the budget austerity, the inauguration of the Basarab overpass and of the Lia Manoliu stadium in Bucharest, as well as the potential improvement of European fund absorption, especially in the HR field. read more...


Romania’s deputy Prime Minister and Democratic Union of Hungarians in Romania (URMR) leader Marko Bela said Thursday on RFI Romania that, if new austerity measures are required in 2011, it means all efforts made in 2010 “came to nothing”. read more...


Romania’s gross domestic product might grow by some 1% in 2011, after a 2% fall this year, but the economic growth depends on the domestic fiscal policy and the recovery of the European Union economies, analysts said. read more...


Romania and Latvia seem to be controlled experiments of the tough austerity policies. Romania's case is relevant for a presumable introduction of even tougher measures like those in Portugal or Greece, according to a comment released on Thursday by the British daily Financial Times. read more...


Romanian employer organizations UGIR-1903 and CONPIROM on Sunday presented a proposition which allows companies to pay their debts to the state budget in tranches in an interval of five years and implements a series of measures to support firms that do not register debts to the state budget. read more...


Romanian unionists and employers on Friday signed the national collective work Contract which sets the minimum wage in the private sector at 700 lei (EUR1=RON4.2953) and increases wages of qualified workers and foremen. read more...


A new accord with the International Monetary Fund (IMF) is set to include conditions for new structural reforms related to workforce, infrastructure and investment, stated the IMF's mission chief to Romania, Jeffrey Franks, adding Romania is no longer viewed as a "mediocre student". read more...


Romania succeeded in reversing its image of a "mediocre student", thanks to the fact that the government in Bucharest weathered the motion of no-confidence and the protests against the proposed spending cuts and layoffs demanded by the IMF, the head of the IMF mission for Romania, Jeffrey Franks said in an interview for Bloomberg, quoted by Agerpres. read more...




National Central Bank counsellor, Adrian Vasilescu declared for the public television TVR1 that the recession in Romania is still present due to the 25% salary cuts. read more...


Romania changed its image from a mediocre student and won the trust of the IMF in 2010 after the government in Bucharest managed to survive the motions and protests to respect the IMF requests on spending and personnel cuts, IMF chief of mission to Romania Jeffrey Franks declraed in an interview for Bloomberg. read more...


President Traian Băsescu was undecided yesterday as to when Romania will step out of recession: he talked about the first quarter, the first half and the second half of 2011. read more...


Labour productivity, which started to show signs of rebound since mid-year, continued to grow in the third quarter, while wage earnings recorded a downward trend. read more...


Romania's current account deficit widened 30.3% to EUR4.94 billion in the first ten months, from a gap of EUR3.79 billion a year earlier, largely due to the lower current transfers surplus, central bank data showed Tuesday. read more...


Romania needs a precautionary agreement with the IMF and the European Union to protect itself against its own politicians, against populism, which can grow at any moment, said President Traian Basescu in an interview with the Financial Times. read more...


Romanian Prime Minister Emil Boc said Sunday on ProTV that the Government has approved the norms for the application of the public-private partnership law, which he said creates the framework for the attraction of domestic and foreign investments. read more...


Discussions between Romanian authorities and the International Monetary Fund on a potential new loan agreement will begin on January 20, said Prime Minister Emil Boc Sunday on ProTV. read more...


There were plenty of people who believed that once we joined the EU we will also live like the EU, Mugur Isarescu declared in a press conference organized by Top Business magazine, dedicated to Romanian brands. Isarescu said that integration seems fighting with the European competition which has no mercy and there are plenty of changes that the society does not accept. read more...


Romania’s trade deficit narrowed to EUR7.7 billion in the first ten months, from EUR8.09 billion in the same period a year earlier, the National Statistics Institute said Friday. read more...



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