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Romania To Increase Ministry Budgets For Investments, Company Debts

15:54, 02 Aug. 2011

Romania's government will increase the budgets of several ministries, in order to finance investments and eliminate debts incurred by state enterprises, but will give less resources to the Ministry of Environment and the Ministry of Finance, according to the draft budget revision.

Romanian President Says Some State-Owned Companies May Go Bankrupt

14:31, 02 Aug. 2011

Romanian President Traian Basescu said Tuesday on public radio he does not rule out the possibility of several state-owned companies to go bankrupt, adding the Government does not have to always step in and save these companies.

Romania Must Walk The Wire, Carefully, Without Populism – President

14:23, 02 Aug. 2011

Romanian President Traian Basescu said Tuesday on public radio that "Romania has to walk the wire, carefully, without populism, but with pragmatism."

Romania To Raise Public Sector Wages 15% Next Year, Says Coalition Party Head

13:13, 02 Aug. 2011

Romania may raise public sector wages 15 next year, either at once or in tranches, Marian Sarbu, head of coalition party UNPR, told Radio France International Tuesday.

Romanian PM Not A Fan Of Rosia Montana Gold Mining Project

11:58, 02 Aug. 2011

Romania’s Government is waiting for expert opinions concerning the impact of the Rosia Montana gold mining project on the environment before making a decision regarding the investment, Prime Minister Emil Boc said Tuesday.

Romanian Postal Workers Protest Planned Layoffs, Threaten Full-Blown Strike Unless Co’s Revenues Rise 20%

11:56, 02 Aug. 2011

Some 1,500 Romanian postal workers are picketing the Communications Ministry Tuesday morning over planned layoffs from state-owned postal company Posta Romana and threaten to go on full-blown strike unless the company’s revenues increase 20% by yearend.

PM: Romania’s Ruling Coalition To Resume Talks On Country’s Administrative Reorganization

11:24, 02 Aug. 2011

Romania’s ruling coalition will resume talks on the country’s administrative reorganization starting next week, Prime Minister Emil Boc said Tuesday, adding that the decentralization process, which entails transferring duties from central to local authorities, will also continue.

IMF Official: Romanian Healthcare Clawback System Hasn’t Worked, Copayment Needed

19:52, 01 Aug. 2011

Romania's Government should replace the clawback tax in the healthcare system with a new version and implement the proposal for co-payment as soon as possible, Jeffrey Franks, head of the IMF agreement evaluation mission, told MEDIAFAX.

IMF: Romania To Put 15 Companies Under Private Management

17:39, 01 Aug. 2011

Romania and the International Monetary Fund have agreed on a list of 15 state-owned companies which will be run by private managers, IMF mission head Jeffrey Franks said Monday.

Romanian Dacia Car Registrations In France Down 25% In Jan-July, To 52,311 Units

16:34, 01 Aug. 2011

Registrations of new Dacia cars in France dropped 25.5% in the first seven months to 52,311 units, while the French car market stood still at 1.385 million units, according to data released Monday by the French carmakers association CCFA.

Reduced Govt Co-Financing Rate For EU Funds To Save Romania Up To EUR714M

15:00, 01 Aug. 2011

The European Commission's plan to reduce the co-financing that must be provided by six EU member states to access EU funds, to 5% from 15%, may save Romania as much as EUR714 million.

IMF: Romania May Raise Public Sector Wages After More Job Cuts

11:47, 01 Aug. 2011

Even though the Government may consider there is room for public sector wage raises, Romania should only raise them following more job cuts layoffs, Jeffrey Franks, head of the International Monetary Fund mission to the country, said Monday.

Romanian President: Lack Of Control In Healthcare Spending Is Unacceptable

20:59, 31 Iul. 2011

Romanian President Traian Basescu said Sunday, after the meeting with the IMF, European Commission and World Bank delegation, that the Government cannot increase the healthcare budget until the sector's expenses are put in order, even though it is underfinanced.

Romanian President: Domestic Banking Sector Is Well-Capitalized

20:56, 31 Iul. 2011

Romanian President Traian Basescu said Sunday, after the meeting with the IMF, European Commission and World Bank delegation, that the domestic banking sector is well-capitalized, but attention must be paid to the local banks in relation to their parent banks.

Romanian President: Experts Say Romania Has Greatly Improved Its Credibility

20:55, 31 Iul. 2011

Romanian President Traian Basescu said Sunday, after the meeting with the IMF, European Commission and World Bank delegation, that one of the experts' conclusions is that Romania has greatly improved its credibility, thanks to the steps taken in 2009 and especially 2010 and 2011.

Romanian Govt Sees GDP Up 0.3-0.4% In 2Q, Inflation At 4.8% In 2011

15:17, 31 Iul. 2011

Romania's Government estimates a 0.3-0.4% growth of the gross domestic product in the second quarter, compared to the first, and an inflation rate of 4.8% this year, below the central bank's forecast, people close to the matter told MEDIAFAX.

IMF: Romania May Accelerate Economic Growth With Good Reforms, Solid Investments

15:14, 30 Iul. 2011

Romania's economic growth will continue this year and may even accelerate next year, but only through continued and "satisfactory" reforms, improved absorption of EU funds and solid investment plans, IMF mission chief Jeffrey Franks said Saturday.

Romanian Govt To Revise 2011 Budget In Early August

19:01, 29 Iul. 2011

Romania's Government will conduct this year's first budget adjustment in early August, with priority granted to allotting additional resources for investment programs, especially those run by the Ministry of Transports, Prime Minister Emil Boc said Friday.

Bechtel Lowers Price For Transylvania Hwy, After „Tough” Negotiations – ProTV

17:27, 28 Iul. 2011

The price of the Brasov-Bors highway section has been reduced from EUR20 million per km to less than half, following negotiations between Romanian authorities and constructor Bechtel, which will resume work this fall, after the state will pay part of its debts, according to ProTV.

Romania Is Having Best Farming Year In Last Five Years – EC Report

17:25, 28 Iul. 2011

Romania is having a good farming year, as its yield per hectare is above the average in the last five years for most crops, while the wheat, barley and potato harvests exceed last year's yield, according to the MARS Bulletin drafted by the European Commission's Joint Research Centre.

Nationwide Electrification Would Cost Romania EUR211M

14:46, 28 Iul. 2011

Romania would need to invest some EUR211 million to connect some 60,600 unconnected households to the national power grid, Thursday said Marian Geanta, development manager of state-owned electricity distributor Electrica.

Romania Can Halt Rosia Montana Mining Project Unless Developer Invests $70M In Preservation Works

14:18, 28 Iul. 2011

Romania can halt the gold mining project at Rosia Montana anytime unless the joint venture developing it, Rosia Montana Gold Corporation, invests $70 million in preservation works in the area, Culture Minister Kelemen Hunor told MEDIAFAX in an interview.

Romania Sells EUR462.6M 4-Yr Forex Bonds At 4.85% Yield

18:44, 27 Iul. 2011

Romanian Finance Ministry Wednesday sold EUR462.6 million in four-year foreign currency bonds, below the planned amount, at an average yield of 4.85% a year.

Romania To Provide Pensioners With Basic Food Products For Lowest Price Each Month

14:47, 27 Iul. 2011

The Romanian "solidarity basket" program, approved by the Government, will provide pensioners each month with a package comprising basic food products, like flour, sugar, oil, corn and rice, for the "lowest price possible."

Romanian Govt Starts Procedures To Sack 1,300 People In State-Owned Energy Cos

13:41, 27 Iul. 2011

Romania’s Government on Wednesday decided the start of procedures to lay off 1,300 employees of several state-owned energy companies this year, and laid off workers will get severance pay and unemployment aid until 2014.

IMF Says Romania Should Cut Red Tape Around Heating Subsidies – Minister

12:35, 27 Iul. 2011

Officials of the International Monetary Fund have recommended Romania to adopt a simplified scheme for heating subsidies and eliminate bureaucracy for this type of aid, Labor Minister Sebastian Lazaroiu said Wednesday after talks with the IMF delegation.

Romanian Labor Ministry, IMF Discuss Wage Law, Pensions, Social Assistance Code

12:06, 27 Iul. 2011

Romanian Labor Minister Sebastian Lazaroiu said Wednesday he discussed with the International Monetary Fund mission the public sector wage law to be enforced next year, the implementation of a new pension system and the country’s future social assistance code.

Romania Sets New World Record For Largest CPR Lesson

11:41, 27 Iul. 2011

Romania on Tuesday set a new world record for the largest CPR training class, as it gathered 7,402 participants on a stadium in Bucharest for a teaching marathon.

ECHR: Romania Failed To Adequately Address Issue Of Stray Dogs

18:28, 26 Iul. 2011

Romania has been held responsible by the European Court of Human Rights for failing to provide sufficient protection from stray dogs to its citizens, following a complaint lodged by a 71 year-old woman, who was violently bitten by a number of dogs in Bucharest in 2000.

Romanian Govt Wants Fair Drug Prices, Revised Purchase System – PM

16:57, 26 Iul. 2011

Romania's Government must put an end to public fund waste in healthcare and ensure fair drug prices, a strategy that can be implemented by supplying mostly generic drugs and restructuring the entire purchase system, said Prime Minister Emil Boc on Tuesday.

Romanian Labor Min: Over 120,000 New Work Contracts Have Ended

15:53, 26 Iul. 2011

More than 730,000 new work contracts were signed in Romania since the new Labor Code took effect, on May 1, and 128,806 have already expired, as most were for registered day laborers, Labor Minister Sebastian Lazaroiu said Tuesday.

Romanian President, IMF Meeting Discussed Budget Revision Principles

20:10, 25 Iul. 2011

The principles of the budget revision, which Romania's government will implement this summer, were discussed by the meeting on Monday between President Traian Basescu and the IMF, European Commission and World Bank joint evaluation mission.

Romania 1H Budget Gap At RON11.3B, Meets IMF Target

17:00, 25 Iul. 2011

Romania’s consolidated budget posted a deficit of 11.3 billion lei (EUR2.65 billion) in the first six months, equal to 2.07% of the gross domestic product, Finance Ministry data showed Monday.

Romania Issues Thunderstorm, Gusty Wind Advisory For 16 Counties In S, SW, Central Regions

13:30, 25 Iul. 2011

Romanian meteorologists issued a yellow code advisory Monday expecting heavy rain, thunderstorms and gusty wind in 16 counties in the southern, southwestern and central regions of the country.

Spain’s Government Decides To Reintroduce Work Permits For Romanians

17:16, 22 Iul. 2011

Spain’s Government on Friday decided to reintroduce work permits for Romanians, restricting their access to its labor market, Spanish media reported, citing Government spokesperson Jose Blanco.

Romania To Implement Labor Market Measures This Fall, As Per IMF Agreement – Union Leader

14:32, 22 Iul. 2011

Dumitru Costin, head of the Romanian National Union Bloc (BNS), said Friday, after meeting with the International Monetary Fund delegation, that a measure package targeting the Romanian labor market will be implemented this fall, part of an agreement with the IMF and European Commission.

Romanian Unionists, IMF Delegation Talk About Energy Market, Privatization Of State Cos

14:14, 22 Iul. 2011

Romanian National Union Bloc (BNS) leader Dumitru Costin said Friday talks between unionists and the International Monetary Fund delegation focused on problems concerning the energy market, the privatization of state companies and rehiring employees made redundant.