Articole scrise de Ioana Morovan, transl/adapt. C.B.

1 - 30 din 31 rezultate
1.European Commission report: Only two states increased VAT by 5% in the last decade - Greece and Cyprus In what concerns the VAT increase in Romania, from 19 to 24%, the South-Eastern European state now leaves the club of the countries with VAT below the European average and joins the club of the highest VAT, according to a European Commission report on taxation among EU member states + Norway. Moreover, the document goes to show that only Greece and Cyprus increased the VAT by 5% from 2000 up until 2010, but none of them so abruptly between 2009 and 2010. The 5% increase in VAT will take the tax from 19% to 24% on July 1.
2.Swiss authorities expect the non-reimbursable finance programme with Romania to be signed in July The non-reimbursable finance programme for Romania has been approved by the Swiss Parliament in December 2009, but the two Governments are expected to sign the Memorandum only in July. The funds will go to local authorities, to be used for infrastructure, social projects, environment and a special fund for NGOs. New Member States department from the Swiss Development and Cooperation Agency chief Ulrich Sturzinger told that the Programme's Coordination Unit will be with the Romanian Public Finance Ministry and that the Funds can be received until December 2014.
3.EC: Public authorities should respect a period of maximum 30 days for SME payments The European Commission responded to the observations formulated by the European Economic and Social Council Committee (CESE) regarding the new version of the Order tackling delayed payments which is going to be voted in the beginning of July. "The commissions share the Committee's point of view that short and compulsory payment deadlines to be applied to al public authorities on all levels. Additionally, taking into consideration the current climate, where the SMEs face serious problems with cash flow and restricted access to credits, public authorities should respect a maximum period of 30 days for payments towards SMEs", A communiqué sent by the Commission to the European Economic and Social Committee at the end of last week and cited by the National Council for SME from Romania. 
4.Romanian unions'  change proposals in IMF letter: differential income tax, freezing pensions and suspending state companies' privatisation during crisis Unions in Romania came with their own crisis management proposals, as alternative to the Government's proposal: differential tax on salaries, a minimum guaranteed income of 705 lei, freezing pensions and cancelling privatisations until the crisis is behind. The measures have been announced on Monday, before the Economic Social Committee (CES) came together. The unionists believe that their proposals stand 50% a chance to be voted in CES, while the Government's proposals chances are inexistent. 
5.It's official: Romania will cash in only half of Rompetrol's debt An official European Commission document published on May 5 reads that the Romanian state is expecting to get only half of the money on Rompetrol bonds in 2010. This is said to be one of the main causes to trigger the increase of the budget deficit. Rompetrol Group, controlled by Kazakhstan KazMunaiGaz, needs to pay 2.4 billion lei or 571 million euros to the Romanian state, which is nearly 0.5% of the GDP. The money represents Petromidia refinery historical events. This sum was feature in the state budget under incomes in 2010. 
6.European Commission economic predictions: 8% budget deficit in Romania for 2010 The European Commission published on Wednesday, May 5, "the spring economic predictions" for 2010, which indicate a budget deficit much beyond the level Romania negotiated with the International Monetary Fund (IMF), namely 5.9%. At the same time, the EC estimates that the GDP will increase by 0.8%, also below the level agreed with the IMF, that is 1.3%. Inflation is estimated to reach 4.3% by the end of 2010. Some of the causes triggering the increase of the budget deficit: the drop in the incomes in Q1, the possibility of going above the spending, Rompetrol bonds. 
7.EC to reassess if EU human resources funds unblock for Romania A European Commission delegation will arrive in Romania on April 28 to reassess the situation of EU funds for human resources, cabinet chief in Labour minister Sorin Ardelean told on Friday. At the moment, Brussels has blocked Romania's reimbursement requests' analysis. The main deficiency that led to the funds' blockage addresses the SMIS electronic system. The statements have been made during a seminar staged by the Institute for Public Policies.
8.EU funds for infrastructure and social services: preparing and starting up projects The Bucharest Ilfov Regional development Agency is organising a seminar regarding European-funded projects for the "Rehabilitation/ modernisation/ equipping social services' infrastructure".
9.EC on Romania's Convergence Programme: It doesn't detail the consolidation measures to be taken in 2011 and 2012 sufficiently The convergence programme Romania sent to the European Commission has been approved this week in Brussels, alongside the projects of the other member states. European Commissioner for Economic and Monetary Business Olli Rehn declared on Wednesday, March 24, that the member states were "postponing" the most important fiscal consolidation efforts for the years to come and do not specify what are the exact measures  they will adopt on medium-term, meaning for the next two years. 
10.Romanian Government's Convergence Programme to be presented to the European Commission, showing "Romania's intention to bring structural deficit below 1% of the GDP by 2014" The European Commission will analyse on Wednesday, March 24, Romania's Convergence Programme, a chief document for official analysis at a European level. Excerpts of this document obtained by show that Romania intends to reduce the structural deficit below 1% of he GDP by 2014, managing a "margin sufficient to avoid going over the 3% of the GDP budget deficit".
11.Romanian Environment minister: We need 1 bln euros until 2014 to fulfil water engagements  Besides the 5.6 bln euros in European finds, Romania still needs one more billion "to honour our engagements. I have discussed with the Finance Ministry and with the European Investment Bank to find a way to solve this problem", Romanian Environment minister Laszlo Borbely said. According to him, Romania is "several percentages" behind when it comes to the water supply access engagements, which currently records 33% in the rural area. 
12.Romania and Bulgaria seal memorandum for 262 million euros worth of border programmes, EU financed The Memorandum for Trans-border Cooperation programme Romania - Bulgaria 2007 - 2013, worth of 262 million euros, has been officially signed on Friday, February 26, in Sofia by Romanian and Bulgarian officials, headed by PMs Emil Boc and Boiko Borisov.
13.Romania and Bulgaria ask EC to extend ISPA programme to finish projects worth 100 million euros Romanian and Bulgarian governments have adopted a joint declaration on Friday, February 26, in Sofia to extend the eligibility deadline for all Romanian and Bulgarian projects financed through the ex-ISPA programme until 31.12.2011. According to the information coming from the Government, Romania still has 650,000 euros to spend from the total sum of 2 billion euros, funds allocated through ISPA.
14.400 million euros from EIB to help Ford Romania produce a new car Romanian Public Finance minister Sebastian Vladescu and European Investment Bank vice-president Matthias Kollatz-Ahnen signed the Agreement on guaranty on Thursday, January 21 2010, worth of 320 million euros that the Government will grant on top of the 400 million euros loan Ford got from EIB. Ford will use the funds to expand and equip the production facilities from Craiova (South).
15.IMF: Without further actions, the budget deficit will reach 9% of the GDP * We estimate 7.8% with the approved measures  The IMF, European Commission and World Bank delegations organised a press conference to present the preliminary conclusions of their visit to Bucharest.
16.IMF evaluation: discussions participants give first conclusions "We're still analysing, we are still working on the evaluation", the IMF delegation chief Jeffrey Franks told journalists. IMF and European Commission officials are not making public yet the results of the discussions with the Romanian Government, patronages and the private sector reps. But there are a few essential ideas shaping the possible solutions of the evaluation mission. The main problem would obviously be the budget spending, including salaries and state subventions. On the other hand, patronages consider to have obtained a "silent confirmation" of the fact that the taxes and levies. They also found out that the IMF was considering a 1% economic increase for Romania in 2010.
17.Romania tops economic negatives in Central and East Europe With an 8% lower GDP in 2009, Romania gets in front of Lithuania, Latvia and Estonia in a central and Eastern Europe top 10, according to a World Bank analysis published on Wednesday, October 28. Regarding the budget deficit, Romania is only behind Latvia and Lithuania. The analysis also shows that Romania is the only country of the 10 considered which adopted only one measure in response to the economic crisis, addressing the labour market, out of a 9 measures set stipulated in the document.
18."Nabucco and South Stream are not competitors, but complementary" -  Paolo Scaroni, at the Black Sea Energetic Forum Paolo Scaroni - multinational Eni CEO, and Richard Morningstar - special US envoy for energy issues in the Eurasian zone, talked in the opening of the Black Sea Energy and Economic Forum about Nabucco, South Stream and the energy resources in the area. "All the countries in the Black Sea region need to form a coalition, to work together to put to good use the energetic resources", Morningstar said. The forum takes place on Thursday, October 1 and Friday, October 2.
19.Responses to the Law voted on Wednesday by the Parliament - Producers: food price will drop! Hypermarkets: no they won't! The war between producers and commercial chains continues after the Deputies' Chamber adopted a law regulating relationships between them. The main point of argue is the way to determine acquisition prices and payment deadlines. Despite numerous discussions, the final law draft does not appeal to retailers. On the other hand, the patronages in the industry consider that the law will reduce food prices by at least 10%.
20.Responses to the Law voted on Wednesday in the Parliament - Producers: food price will drop! Hypermarkets: no they won't! The war between producers and commercial chains continues after the Deputies' Chamber adopted a law regulating relationships between them. The main point of argue is the way to determine acquisition prices and payment deadlines. Despite numerous discussions, the final law draft does not appeal to retailers. On the other hand, the patronages in the industry consider that the law will reduce food prices by at least 10%.
21.Foreign Investors Council: Ukraine and Russia - Romania's competition. ARIS: investment projects worth of 8.7 billion euros in standby Romania's activity is not what it once was. The country must now compete for foreign investment with Russia and Ukraine, the verdict read, as the executive director of the Foreign Investors Council Doina Ciomag put it on Thursday, at the launch of the World Investors Report 2009.
22.Half of the Romanians can't or have never tried to save According to a survey carried out by the Romanian Central Bank (BNR), 50.4% of the Romanians have never saved money. The saving rate is influenced by the size of the family and there are fewer savings where the head of the family is jobless. Also, the probability of saving is reduced where a family is headed by a woman. There are differences in a survey run but Romania's National Statistics Institute (INS).
23.Romania's Central Bank governor: I wasn't expecting Romania to become a shopping centre so soon BNR governor Mugur Isarescu presented a current account deficit analysis during "Aspects of the saving process in Romania" symposium. Talking about the economic growth from the last years, he said: "The temptation was huge. We were at pains with avoiding the current account deficit for the last fours years. In the '90, we knew who was Romanian judging by the number of plastic bags they were bringing in. There were no shopping centres internally. But that is not the case anymore", he explained.
24.Romania's Central Bank: To encourage savings, the state should stop guaranteeing pensions "I found out this year that in China, as communist as the country may be, there is no state pension system. Therefore, people are desperate to have savings", chief economist of Romania's Central Bank (BNR) Valentin Lazea declared for at the end of an economic symposium - "Aspects of the saving process in Romania". "The best thing the state can do is to stop making guarantees to the pensioners or to the people about to retire, as if everything would be cosy and nice", he added.
25.100.000 small and medium enterprises are expected to close down The president of the National Council for Small and Medium Enterprises declared on July 30 that at least 115.000 companies are expected to close down by the end of the year, a figure at least equal with the number of companies that closed their business during the first semester of 2009. Out of the surviving companies, over 70% will be forced to let part of their staff go. 
26.Daniel Daianu informs the European Commissar for competition on his surprise on Brussels' attitude towards CEC "I'm surprised to learn the European Commission's view against Romania recapitalising CEC, the bank owned by the state. I agree with your evaluation according to which CEC was not facing liquidity and solvability issues. But I propose we go beyond the narrow judgment on how banks should be or what they should do, especially in extremely difficult circumstances", a letter signed by ex-Finance minister Daniel Daianu sent to European Commissionaire for competition policies points out. 
27.Adrian Vasilescu (BNR): The World Bank will pay 11 billion euros in the market over the next years Romania's Central Bank governor’s advisor, Adrian Vasilescu, said that BNR (national Central bank) does not stand for the word "relaxation". Therefore, it will send 12 billion euros into the market, money that BNR managed to attract. The debates took part during "Retail Banking - 2:0. Post crisis version", organised by Finmedia.
28.Bucharest - Brasov motorway: 19 euros/sm - the maximum price offered by the state. Owners show discontent Bucharest - Brasov motorway route could not accelerate pass the expropriations. Current Barcanesti (South Romania) mayor Gheorghe Dima stated, during the Money Channel Business Tour in Ploiesti, that there were 13 expropriation court trials for the route Bucharest - Ploiesti.
29.Romanian Centre for European Policies: Dan Ciolos is the experts' favourite for the European Commissioner role Romanian Centre for European Policies (CRPE) launched a report analysing the public proposals for the role of European Commissioner. Each Romanian candidate is considered against five criteria, detailed in the report. CRPE proposes to the Coalition, Government and Presidency to actively support Jose Manuel Barroso for chief of European Commission and, in exchange, to hand him a shortlist of Romanian candidates during or immediately after the European Council in June 18 - 19. CRPE recommends the coalition to cease arguing on the issue of the Romanian candidate. 
30.Ministry of Finance: foreign investments – 4.5 billion euros in 2009 and 5.4 billion in 2011 "Goods exports will diminish in 2009 by 15.5%, and goods imports - by 25.4%, as a result of the industrial production shrinkage", according to the Convergence Programme hat Romania sent to the European Commission. The report shows foreign investment will lose half of its 2008 value, but is estimate to recover in 2010 and 2011.

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