budget

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’s Budget Posts RON829M Surplus In April

19:08, 25 Mai 2011
Romania’s consolidated budget posted a surplus of 829 million lei (EUR200.1 million) in April, fueled by higher revenue, while the budget deficit for the first four months of 2011 narrowed to RON4.4 billion, the Finance Ministry said Wednesday.

Romanian State-Owned Airline Tarom Expects To Break Even In 2011

18:03, 25 Ian. 2011
Romanian state-owned airline Tarom wants to break even in 2011, after its 2010 budget provided for a 19.8 million lei (EUR1=RON4.2621) profit, according to a draft government decision by the Ministry of Transport.

Romanian State-Owned Railway Companies’ 2011 Budgets Entail Sacking 5,588 Employees

15:58, 25 Ian. 2011
The 2011 budgets of Romanian state-owned railway companies CFR Marfa, CFR Calatori and CFR SA say 5,588 employees will be sacked and staff expenses will be cut by 21.8%, 6.5% and 11.6% respectively, according to three draft Government decisions drawn up by the Transport Ministry.

Romanian President Passes State Budget, Social Security Budget, Wage Bills

18:59, 28 Dec. 2010
Romanian President Traian Basescu on Tuesday signed the 2011 state budget bill and social security budget bill, as well as the unitary wage and 2011 public sector wage bills into laws, the president’s office said in a statement.

Romanian 2011 State Budget Law Ruled Constitutional

13:40, 28 Dec. 2010
Romania's Constitutional Court on Tuesday ruled the 2011 state budget law constitutional.

Romanian Opp Liberals Challenge 2011 State Budget Law At Constitutional Court

18:13, 23 Dec. 2010
Romanian opposition liberal deputies challenged the state budget for 2011 with the Constitutional Court.

Christmas Budget Of Half Of Romanians Below RON400 – Study

16:56, 21 Dec. 2010
The Christmas budget of almost half of Romanians is below 400 lei (EUR1=RON4.2901), according to a survey conducted by the Romanian Institute for Evaluation and Strategy (IRES).

Romanian Draft 2011 State, Social Security Budgets Debated In Parliament Committees This Weekend

14:24, 13 Dec. 2010
The Romanian Parliament budget and finance committees will debate the draft 2011 state budget law and the draft social security budget for next year on Friday, Saturday and Sunday, and the two acts will be up for plenary debates in Parliament staring next week.

Romanian President Says Budget Doesn’t Allow Paying Child Rearing Benefits For 2 Yrs – Sources

13:14, 06 Dec. 2010
Romanian President Traian Basescu told coalition leaders in a meeting Monday the country’s budget resources don’t allow the keeping of child rearing benefits for the current period of two years and suggested parental leave should be shortened to one year, people at the meeting told MEDIAFAX.

Romanian Govt To Seek Conf Vote To Pass Wage Bill On Dec 14

14:48, 04 Dec. 2010
Romania’s Government will seek a confidence vote in Parliament on December 14 to pass into legislation an IMF-required unitary wage bill for the public sector and the 2011 state budget law will be sent to Parliament for approval next week, Prime Minister Emil Boc said Saturday.

Romanian Govt To Approve Draft 2011 State Budget Monday – Sources

18:35, 02 Dec. 2010
Romania’s Government will approve the draft state budget for 2011 in a meeting Monday, people close to the matter said Thursday.

Romanian Fin Min says 2011 Budget To Provide More For Investments, Cut Social Spending

11:25, 02 Dec. 2010
Romania can’t draft a budget with just wage payment and social spending in mind and the budget philosophy for 2011 is to earmark as many funds as possible for investments and co-financing, Finance Minister Gheorghe Ialomitianu said Thursday.

Opp Leader Says 2011 Draft Budget Prevents Romania From Meeting NATO Commitments

14:26, 29 Nov. 2010
Romanian opposition Social Democratic Party president Victor Ponta said Monday that Romania will not be able to meet its commitments as NATO member state if the draft state budget for 2011 is adopted in the form proposed by the Government.

EXCLUSIVE: Romanian Govt Cuts VAT Funds For Local Budgets

10:24, 25 Nov. 2010
The Romanian Government will cut funds from VAT collections to be granted to local budgets and will halve the money allotted for infrastructure works and sport grounds, according to the final form of the country’s 2011 draft state budget, obtained by MEDIAFAX.

EXCLUSIVE: Romanian Local Authorities Can’t Make New Investments If Old Projects Not Finished

09:13, 25 Nov. 2010
Romanian local authorities will be forbidden to finance new investment projects if they did not ensure funds to complete projects that have already been started, according to the final form of the country’s 2011 draft state budget, obtained by MEDIAFAX.

EXCLUSIVE: Romanian Govt Slashes VAT Funds For Local Budgets

12:17, 18 Nov. 2010
Romania's Government will reduce the funds taken from VAT collections and transferred to local budgets to cover personnel expenses and bonuses in public schools, in addition to reducing the social aid budget.

Romanian Senate Raises Its Budget For 2011 By 30%

13:21, 02 Nov. 2010
The Romanian Senate adopted Tuesday with 86 votes in favor, two against and two abstentions its budget for 2011, which amounts to 127,900,000 lei (EUR1=RON4.2848), up about 30% compared to its budget for this year.

Romanian Agric Min Calls For Extra RON1B For Agriculture In 2011

15:25, 12 Sept. 2010
Romania’s Agriculture Minister Valeriu Tabara told MEDIAFAX in an interview he has asked the Finance Ministry for an extra 1 billion lei (EUR1=RON4.2723) in the agriculture sector’s budget for next year.

Romania Govt Says Ctrl Bank Pay Cuts Stand

20:06, 30 Aug. 2010
Romanian government Monday upheld a 25% pay cut for central bank staff, but decided the funds will remain at the bank’s disposal instead of being transferred directly to the state budget.

Romanian State-Owned Cos’ Salary Funds Unaffected By Wage Cutting Austerity Plan

15:05, 20 Aug. 2010
The budgets of Romanian state-owned companies were revised after authorities decided to cut their costs with goods and services, but their salary funds were not affected.

Romania Regional Development Ministry Halts Several Investment Programs Over 10% Budget Cut

20:09, 19 Aug. 2010
Romanian Regional Development and Tourism Minister Elena Udrea said her ministry has halted several investment programs, including the construction of homes via the National Housing Agency ANL, after its budget was cut by 10%.

Romanian Govt Slashes VAT Funds For Local Mayoralties

13:45, 12 Aug. 2010
The sums taken from VAT collections and transferred to Romanian local budgets will be reduced by 2.1 billion lei (EUR1=RON4.2347) in the upcoming budget revision, according to the draft obtained by MEDIAFAX.

Romania To Revise Budget Revenue Down By RON3.4B

12:48, 12 Aug. 2010
Romania’s Government estimates budget revenue will come in at 165.4 billion lei (EUR1=RON4.2404) in 2010, down from an initial projection of RON168.85 billion, due to weaker than expected results in the first half and worsened economic growth prospects.

Romanian State-Owned Cos To Donate Unused Funds To State Budget

12:39, 12 Aug. 2010
Romanian state-owned energy companies Electrica and Romgaz will donate 400 million lei (EUR1=RON4.2404) each to the state budget, while the Lottery will donate RON74 million, according to the draft of the first budget revision this year obtained by MEDIAFAX.

Romanian Govt To Increase Social Security Budget By RON3.8B

19:56, 11 Aug. 2010
Romania’s Government will increase the social security budget by 3.8 billion lei (EUR1=RON4.2404) to cover spending on pensions until the end of the year, Prime Minister Emil Boc said Wednesday.

WB: Multilateral Loan Recommended For Romania’s Budget Needs

16:17, 22 Iul. 2010
Low borrowing costs are vital to ensure adequate financing to cover Romania’s budget needs, an official at the World Bank said Thursday, adding that a new international loan package may be a good move at this time.

Romania To Allot RON900M For Flood Defense Projects

12:54, 13 Iul. 2010
Romania’s Environment Minister, Laszlo Borbely, announced Tuesday that the Government would allot around 900 million lei (EUR1=RON4.2471) for flood defense projects, the largest amount for such a project in the last 20 years.

IMF Board Postpones Meeting On Loan Agreement With Romania

13:23, 26 Iun. 2010
The International Monetary Fund board meeting to analyze the stand-by agreement with Romania, initially scheduled for June 28, has been postponed as the IMF is evaluating the impact of the Constitutional Court’s ruling on the Government’s program of public spending cuts.

Romanian State-Run Cos Have Two Weeks To Submit Revised Budgets, Slashing 20% Of Costs

11:18, 25 Iun. 2010
Managers of Romanian state-run companies have two weeks to send the Government revised budget plans, in which protocol and advertising spending for the second half of the year must be 20% lower, according to an emergency decree the Government adopted.

Romania’s Agriculture Ministry Has Spent Over 90% Of 2010 Budget

20:22, 16 Iun. 2010
Romania’s Agriculture Ministry has spent over 90% of this year’s budget on paying subsidies and outstanding debts for the previous year, and can only afford to subsidize diesel fuel, Agriculture Minister Mihail Dumitru told MEDIAFAX Wednesday.

IMF Recommendations Focused On Increasing Romania’s Budget Revenue

13:34, 22 Mai 2010
In talks with Romanian authorities, the International Monetary Fund focused on increasing budget revenue by hiking the VAT and flat tax, as well as introducing progressive taxation, but certain difficult expense cuts would have been included in any scenario, says a Fund press release.

Romania’s Health Ministry To Axe Its Budget Expenses By 20% Amid Public Spending Cuts

17:56, 13 Mai 2010
Romania’s Health Minister Attila Cseke on Thursday said his ministry will cut by 20% its budget expenses approved for the procurement of goods and services in 2010, adding it will also enforce the 25% salary cut recently announced for all employees in the public sector.

Romania No Longer Grants Treatment Vouchers Contracted Via Pension House In 2010 – Draft

21:08, 11 Mai 2010
The Romanian Government will no longer grant the spa treatment vouchers that were to be contracted via the National Pension House in 2010, according to a draft emergency decree regarding public spending cuts.

Romania Scraps 13th Salary For Public Workers Amid Spending Cuts

17:39, 10 Mai 2010
Romania will not pay public sector employees a 13th monthly salary this year and the measure will be included in next year’s state budget, according to the Memorandum of Understanding between Romania and the IMF and EU.

Romanian Subway Unionists Call Off Strike

16:30, 17 Mart. 2010
Employees of Romania’s state-owned subway company Metrorex called off a full-blown strike planned for Thursday after the Government approved the company’s 2010 budget and included certain wage bonuses in base salaries, the Transport Ministry said in a press release Wednesday.

Romania Budget Revenue Back On Track As Of March – Fin Min

12:48, 15 Mart. 2010
Romanian budget revenue in the first two months was slightly below the planned level, but the figures are seen within the target starting with March 2010, Finance Minister Sebastian Vladescu said Monday.

Gabriel Resources Budgets Investments Worth EUR27M For Rosia Montana Proj In ‘10

19:44, 11 Mart. 2010
Canadian company Gabriel Resources allotted a EUR27.3 million budget for the Rosia Montana project in 2010, a sum required for asset maintenance and the environment impact study.

Romanian Government Set To Reduce Fiscal Red Tape For Companies

14:16, 11 Mart. 2010
The Romanian Government will allow companies to pay the bulk of debts to the state budget, and not just the penalties connected to the debt, and will reduce the number of required monthly fiscal statements, said Romanian Prime Minister Emil Boc.

Romania’s Budget Spending Way Above Employees’ Job Performance, Govt’s Resources – Fin Min

13:43, 24 Feb. 2010
Romania’s Finance Minister Sebastian Vladescu said the country’s budget expenses are way above employees’ job performance and beyond the government’s capability to ensure medium and long-term sustainability, which further hinders investments in infrastructure or healthcare system.