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Romania Central Bank Says Inflation May Rise To 8% In 2010

13:49, 05 Iul. 2010
Romanian inflation may accelerate to around 8% this year, driven by a recent increase in the value added tax level, central bank governor Mugur Isarescu said Monday.

Over Two Thirds Of Romanians Could Cope With 25% Wage Cut For Three Months Tops

13:34, 05 Iul. 2010
Over two thirds of Romanian say they could deal with a 25% wage cut for three months at most, considering 75% of people’s savings consist of two months’ salary at most, according to a survey conducted for the World Bank by the Romanian Academy’s Institute for World Economics.

Romanian Housing Prices Fall 5.3% During 1H – Survey

13:28, 05 Iul. 2010
Asking prices for housing in Romania’s largest cities dropped by an average 5.3% in the first half of this year compared to the end of 2009, according to data from property website imobiliare.ro.

Romania Leu Up Vs Euro, Exch Rate At 4.2613

13:23, 05 Iul. 2010
Romania’s leu extended early winnings against the euro in mid trade Monday, and the exchange rate strengthened over 1% on the day at 4.2613 units.

Over 60% Of Romanians Spend All Their Money From One Salary To The Next – Survey

13:13, 05 Iul. 2010
Over 60% of Romanians spend all their money from one monthly salary to the next all the time or very often and 65% of the country’s population aged over 16 has trouble paying for every day needs, said Monday Manuela Stanculescu, researcher with the Romanian Academy’s Quality of Life Research Institute.

Romania Ctrl Bank Sees Inflation Up By 4 Pps After Sales Tax Hike

13:10, 05 Iul. 2010
Romanian central bank estimates the recent increase in the value added tax rate will drive inflation up by three to four percentage points over the next period, deputy governor Cristian Popa said Monday.

Romanian President Supervises Army Works On Temporary Bridge In NE Romania

12:34, 05 Iul. 2010
Romanian President Traian Basescu arrived Monday around noon in Dornesti, in the flood-hit northern Romanian Suceava county, to supervise works on a bridge over the local river built by the army.

Romanian Govt To Evaluate Flood Damage, Access EU Solidarity Fund By July 15

12:12, 05 Iul. 2010
Romania’s Government will evaluate the damage caused by the floods and will submit the relevant documents to access the European Union’s Solidarity Fund by July 15 at the latest, Prime Minister Emil Boc announced Monday.

Number Of Tourists Entering Romania In May Down 0.1% YY

11:29, 05 Iul. 2010
The number of tourists entering Romania was 0.1% lower in May compared with the same month a year before, while the number of tourists accommodated was up 1.3% on the year, the National Institute For Statistics, or INS, said Monday.

Romanian Fmr General Chitac Returns To Jilava Prison Hospital, Surgery Postponed

10:30, 05 Iul. 2010
Romanian former General Mihai Chitac has returned to the Jilava Penitentiary’s hospital, after being released two months ago to undergo heart surgery, which could not be carried out because of its high risks.

Romania’s May Net Salary Down 0.6% M-M To RON1,428

10:06, 05 Iul. 2010
Romania’s net average salary in May was at 1,428 lei (EUR1=RON4.3048), down 0.6% compared with the previous month, the National Institute for Statistics, or INS, said Monday.

Romanian Govt To Discourage House-Building In Floodable Areas – PM

19:57, 04 Iul. 2010
Romanian Prime Minister Emil Boc said Sunday, during a visit to the severely flood-hit northeastern county of Suceava that the Government does not encourage the building of houses in areas at risk of floods.

Romania Activates EU Civil Protection Mechanism, Four EU Members Offer Aid

19:53, 04 Iul. 2010
Romania activated Friday the EU’s Civil Protection Mechanism, and, within hours, it received offers for assistance from Belgium, Austria, France and Estonia, says a press release issued Sunday by the European Commission.

Romanian President Returns To Flood-Hit NE Romania

19:50, 04 Iul. 2010
Romanian President Traian Basescu returned Sunday to the heavily flood-hit village of Saucesti, in northeastern Bacau county, which he previously visited Saturday.

Romania To Maintain IMF-Agreed 6.8% Deficit Target After Floods – PM

16:25, 04 Iul. 2010
Romania’s Prime Minister Emil Boc said Sunday, during a visit to a severely flood-hit village in northeastern Suceava county, no discussions have been held with the IMF regarding a higher deficit target.

Romania Must File For EU Solidarity Fund Aid In No More Than 10 Weeks From June 23 – PM

15:58, 04 Iul. 2010
Romanian Prime Minister Emil Boc said Sunday, during a visit to a severely flood-hit village in northeastern Suceava county, that the financial aid request for the European Union’s Solidarity Fund must be submitted in no more than ten weeks from the beginning of the floods.

Romanian Ministries To Redirect Investment Funds To Flood Reconstruction Effort – PM

15:20, 04 Iul. 2010
Romania’s Prime Minister Emil Boc said Sunday, during a visit to a severely flood-hit village in northeastern Suceava county, that all ministries will reprioritize their investments and allot the funds to rebuilding the infrastructure and houses damaged by the floods.

IMF Concerned With Romania’s Ability To Continue Reforms

15:03, 04 Iul. 2010
The board of the International Monetary Fund is concerned with Romania’s capacity to continue to implement reforms, IMF mission head to Romania Jeffrey Franks told MEDIAFAX.

Romanian PM Visits Flood-Hit NE Romania

15:01, 04 Iul. 2010
Romanian Prime Minister Emil Boc arrived Sunday in the heavily flood-hit village of Zamostea, in northeastern Suceava county, where he talked to local flood evacuees and promised them their homes would be rebuilt before winter.

IMF To Maintain Romania’s 2010 GDP Forecast

14:13, 04 Iul. 2010
The IMF will not significantly alter its forecast on Romania’s 2010 GDP, expected to see a 0.5% decrease this year, following the recently announced VAT hike and public sector wage cut, IMF mission head to Romania Jeffrey Franks told MEDIAFAX.

IMF, Romania To Discuss New Agreement Once Govt Sends Clear Signal Of Intent

14:11, 04 Iul. 2010
Romania might begin talks on a new precautionary or standby agreement with the IMF during the coming months, should the country’s Government send a clear signal of intent, IMF mission head Jeffrey Franks told MEDIAFAX.

IMF Ups Romania’s 2010 Inflation Target To 7.9% After VAT Hike

14:09, 04 Iul. 2010
The board of the International Monetary Fund approved Friday to increase Romania’s 2010 standby agreement inflation target from 3.5% to 7.9%, following the VAT hike to 24%, evaluation mission head Jeffrey Franks told MEDIAFAX.

Romanian President Visits Flood-Hit NE Romania

18:21, 03 Iul. 2010
Romanian President Traian Basescu arrived Saturday afternoon in the heavily flood-hit village of Saucesti, in northeastern Bacau county, where he talked to the locals and promised them the village would have a dam to protect it from floods by the end of 2010.

Romanian PM Denies Use Of Dam-Building Funds For Sports Hall Construction

17:35, 03 Iul. 2010
Romanian Prime Minister Emil Boc denied Saturday the information according to which funds for building dams were used for the construction of sports halls, while on a visit to a flood-threatened village in eastern Galati county.

Romania To Submit Flood Relief Request To EU Solidarity Fund – PM

15:40, 03 Iul. 2010
Romanian Prime Minister Emil Boc said Saturday, after talks with the country’s Emergency Committee, that the financial aid request for the European Union’s Solidarity Fund is currently being drawn up.

EXCLUSIVE: Romanian Nanny Found Guilty In Mistreatment Case

15:14, 03 Iul. 2010
A Romanian court in capital Bucharest found a nanny guilty of physically abusing the two children in her care, and also ruled to have the woman serve a previously suspended one-year imprisonment sentence.

Over 30 Romanian Towns, Villages Affected By Rainfall, Floods In Past 24 Hours

14:27, 03 Iul. 2010
Romania saw 36 towns and villages in 12 counties affected by heavy rainfall, 1,600 individual farms flooded and 54 people evacuated over the past 24 hours, the General Inspectorate for Emergency Situations (IGSU) said Saturday.

Romanian Danube Expects High Water Levels For Next 3 Weeks

14:08, 03 Iul. 2010
Romanian downstream Danube sectors The Iron Gates will see increased water levels and flow volume rates for the next three weeks, prompting national water management authority ANAR to consolidate dams on the river, ANAR representatives said Saturday.

Meteorologists Extend Code Yellow Rainfall Alert For N, NE, C Romania Until Monday Morning

13:06, 03 Iul. 2010
Romanian meteorologists extended the code yellow alert for rain until Monday at 9 a.m. for 16 counties in the northern, northeastern and the central part of the country.

IMF Praises Romania’s Efforts To Restore Macroeconomic Stability

12:41, 03 Iul. 2010
Romania has taken significant steps toward restoring macroeconomic stability and adjusting pre-recession imbalances, says a press release issued Friday by John Lipsky, first deputy managing director of the International Monetary Fund.

IMF Approves EUR900M Disbursement For Romania

12:08, 03 Iul. 2010
The International Monetary Fund Friday approved the disbursement of approximately EUR900 million to Romania, following a new review of the country’s performance under a EUR13 billion standby agreement.

Romania’s Senate Chairman Asks Ombudsman To Challenge Constitutionality Of VAT Hike

20:07, 02 Iul. 2010
Romanian Senate Chairman Mircea Geoana said Friday that he asked the Ombudsman to challenge the constitutionality of the emergency ordinance regulating the value added tax hike, says a press release issued Friday.

Romanian President Promises Flood Relief, Says Education, Healthcare Cuts Required

19:25, 02 Iul. 2010
Romanian President Traian Basescu said Friday that victims of the recent floods will be provided with construction materials to rebuild their homes, paid for from the state budget, through “cuts in education and healthcare.”

Romanian Orthodox Church Awards People’s Cathedral Contract Worth EUR100M

16:15, 02 Iul. 2010
A company in the eastern Romanian county of Bacau was awarded the project for building the People’s Cathedral in Bucharest, at the estimated cost of approximately EUR100 million, half of the initially projected value, Patriarchal vicar bishop Ciprian Campineanul said Friday.

EC Received No Request For Flood Relief From Romanian Govt

15:52, 02 Iul. 2010
The European Commission has not received any request for aid from the Romanian Government, although it is “open” to the idea of activating the Mechanism for civil protection on request, Commission spokesman Ferran Tarradellas Espuny said Friday.

Romanian President, Tourism Min Visit Flood-Hit NE Romania

15:17, 02 Iul. 2010
Romanian President Traian Basescu and Development and Tourism Minister Elena Udrea arrived Friday afternoon in Patrauti village, in the northeastern Romanian county of Suceava, seriously affected by recent floods.

Romania’s VAT Hike To Boost Used Car Sales – autovit.ro

14:44, 02 Iul. 2010
Romania’s decision to hike the value added tax (VAT) to 24%, from 19%, would determine many people interested in purchasing cars to choose the second-hand car market, where prices will not be altered, said website autovit.ro manager Attila Okany.

Romania’s Labor Ministry Grants RON115,000 Aid To Flood Victims’ Families

14:43, 02 Iul. 2010
Romania’s Labor, Family and Social Protection Ministry handed out 115,000 lei (EUR1=RON4.3048) worth of aid to the families of those killed by the recent floods.

VAT Hike, Floods Seen Pushing Romanian YE Inflation At 8%

14:06, 02 Iul. 2010
The higher sales tax and a spike in food prices because of heavy floods could push Romania’s annual inflation to over 8% at year-end, Raiffeisen Bank said in a report Friday.

Romanian Businessman Sergiu Bahaian Indicted On Fraud, Murder Charges

12:33, 02 Iul. 2010
Romanian businessman Sergiu Bahaian has been indicted on charges of setting up a criminal group, fraud with severe consequences, murder and instigation to murder, organized crime prosecutors said Friday.