economy

Romanian Econ Min Says Economy Is In Delicate State

12:37, 22 Apr. 2010
Romania is in a delicate economic situation, but is far from a catastrophe, Economy Minister Adriean Videanu said Thursday.

Romania May Face Financial Crisis Without Reforming Public Spending – PM

11:49, 22 Apr. 2010
The Government keeps its intention to cut and streamline public spending, as economic developments of the past two years show that, without reform, Romania might slide into a financial crisis like the one faced by Greece, Prime Minister Emil Boc said Thursday.

Romanian Ctrl Bker Sees Zero Economic Growth In 2010

12:30, 15 Apr. 2010
Romania is expected to experience zero economic growth in 2010, following the severe recession that led to a contraction of 7.1% last year, a central bank official said Thursday.

Romanian GDP Seen Growing 1% In H2 – IMF

16:14, 09 Apr. 2010
Romanian economy is likely to grow by 1% in the second half of the year, but a full recovery will take time, said Jeffrey Franks, head of the International Monetary Fund’s mission to Romania.

Romania May Wait Beyond Q1 To Emerge From Recession

14:40, 01 Apr. 2010
Romanian economy could still be months ahead a positive revival, as the first signs regarding the evolution in the first quarter don’t point to growth, officials of the National Prognosis Commission (CNP) said Thursday.

Romanian Economy Likely To Post Modest Growth In Q1 – Ctrl Bker

14:05, 31 Mart. 2010
Romanian economy is likely to post a meager growth in the first quarter, driven by growing exports and positive results in the manufacturing industry, a central bank official said Wednesday.

Romania Ctrl Bk Chief: Economy Must Be Allowed To Recover

18:20, 26 Mart. 2010
Romanian central bank governor Mugur Isarescu Friday said the economy must be allowed to recover at its own speed, or the authorities might need to raise the taxes to aid the state budget.

EIB: Romanian Budget Affected By Crisis’ Final Stage

14:56, 18 Mart. 2010
Romanian economy has already hit bottom and it now faces the last phase of the crisis, with “huge” difficulties concerning the public budget, an official of the European Investment Bank said Thursday.

Romania’s Economy Will Resume Growth In Upcoming Months – Econ Min

17:35, 13 Mart. 2010
Romania’s Economy, Commerce and Business Environment Minister Adriean Videanu on Saturday said the economic data registered in the past four months indicate that "Romania's economy will resume growth in the upcoming months."

Romanian Economy Out Of Recession In Q4 2009 – Analysts

19:32, 10 Feb. 2010
Romanian gross domestic product is estimated to post a slight grow in the fourth quarter of 2009 compared with a quarter earlier, but the economy contracted by 6.6%-7% last year, analysts said Wednesday.

Romanian Economy Seen Growing 6% In 2012 – IMF Official

10:24, 28 Ian. 2010
Romanian economy is likely to reach its growth potential of 5% to 6% per year as of 2012, Romania's representative at the International Monetary Fund, Mihai Tanasescu said Thursday.

WB Raises Romania 2011 Growth Outlook To 4.2% Vs 2.5%

10:02, 21 Ian. 2010
The World Bank raised its forecast on Romanian economic growth to 4.2% in 2011 from a previous 2.5%, leaving this year’s predictions unchanged at 0.5%, according to a report on global economic prospects released Thursday.

Romania Fails To Capitalize On A Flexible Exchange Rate – ING

11:02, 12 Ian. 2010
Romania has failed to “fully exploit” the advantages of a flexible exchange rate in 2009 and its economy declined more abruptly compared to the average registered in countries with a floating exchange rate, ING Bank said in a report Tuesday.

Romania 3Q Revised GDP Dn 0.6% QQ, Dn 7.1% YY

10:37, 03 Dec. 2009
Romania’s gross domestic product shrank by a seasonally adjusted 0.6% in the third quarter compared with the previous quarter, amounting to 120.4 billion lei (EUR1=RON4.2496), according to revised data released Thursday by the country's statistics institute INS.

Coface Sees Romanian GDP Up 1% In 3Q, 4Q 2010

13:53, 23 Nov. 2009
Romania's economy might post a growth of around 1% in the last two quarters of 2010, risk management company Coface officials said Monday.

Romanian Econ To Start Growing In 2011 – Ex PM Designate

12:12, 12 Nov. 2009
Romania's economy is likely to revive in 2010 and start growing in 2011, but its revival is delayed by the political crisis, former Prime Minister-designate Lucian Croitoru said Thursday, at the opening bell of the Bucharest Stock Exchange.

Romania Must Shift Focus To Performing Sectors Or Face Tax Hikes – Ctrl Bker

14:00, 11 Nov. 2009
The Romanian authorities can either redirect budget funds to better performing economic sectors or take the unpopular measure of hiking taxes in a move to consolidate public finances, central bank governor Mugur Isarescu said Wednesday.

EC: Political Uncertainty May Hinder Romania’s Economic Recovery

14:48, 03 Nov. 2009
The European Commission warned the current political noise could delay the enforcement of proposed public spending cuts and weaken Romania's economic recovery in a fragile external environment.

Moody’s: Govt’s Fall Bears No Immediate Impact On Romanian Economy

14:24, 14 Oct. 2009
The government’s collapse will have no significant impact on the Romanian economy in the short run, as the economic sector appears to be well insulated from politics, ratings agency Moody’s said in a report Wednesday.

EC Sees CEE Economic Outlook Improving, Yet Challenges Persist

14:29, 25 Sept. 2009
The economic outlook for Central and Eastern Europe is improving, but important challenges remain, such as ensuring the financial system health and securing a sufficient supply of credit to support the recovery, the European Commission said Friday.

Romania To Resume Growth With 1-Yr Delay – Ctrl Bkr

13:10, 23 Sept. 2009
The great financial meltdown has hit Romania with a delay of one year, one year and a half and so the country is bound to experience a lag in recovery of eight to 12 months compared with the more developed economies, a central bank official said Wednesday.

Romanian Ctrl Bker Says Economy Will Revive As Of Q3 Or Q4

16:15, 09 Sept. 2009
The Romanian economy will return to growth in the fourth quarter, if not even in the third quarter, on a favorable base effect, central bank governor Mugur Isarescu said Wednesday.

Romanian Economy Likely To Recover As Of 4Q – Analysts

15:46, 01 Sept. 2009
Romanian economy is likely to enter a positive path as of the fourth quarter this year, though not before bottoming out in the third quarter, economic analysts say, adding a revival depends on euro-zone economic development.

Romanian Econ Pessimism Deepens On Faint Consumer Confidence

15:30, 28 Aug. 2009
Romanian economic mood continued its decline for the eleventh consecutive month in August, on falling consumer confidence and scarce activity in constructions, European Commission data showed Friday.

Moody’s Sees Romanian GDP At -8.9% In ’09

19:59, 25 Aug. 2009
Romanian economy is likely to contract by 8.9% this year on falling domestic demand, while the first signs of recovery are not expected until mid next year, rating agency Moody’s said Tuesday.

Romanian Govt Readies Measures To Boost Economy – Min

13:06, 24 Aug. 2009
The Romanian government is prepared to assume responsibility for several measures aimed at stimulating the country’s economy, including the tax-free reinvested profit and amendments to the law on investments, Economy Minister Adriean Videanu said Monday.

Aurel Cazacu Quits Top Position In Romania’s Economy Min

11:35, 22 Aug. 2009
Aurel Cazacu, head of Romania’s General Department for Defense Industry and Special Problems, accepted to submit his resignation at the request of economy minister Adriean Videanu, following the events he was involved in, according to an official statement of the ministry.

Romania’s Pres: Fincl Booms Will No Longer Return

10:13, 21 Aug. 2009
Romania’s President Traian Basescu said Thursday in the eastern town of Vaslui that the financial booms will not return after the economic crisis comes to an end.

Romania’s 7-8% Econ Contraction, A “Disaster” For Business Environment – Assoc

18:57, 31 Iul. 2009
The economy contraction of 7-8% forecasted for 2009 will represent a "big disaster" for business environment and will trigger the bankruptcy of companies and the reorganization of certain economy subsectors, said Florin Pogonaru, head of Romanian Businessmen Association AOAR

Romanian PM Says Will Skip Vacation This Year To Work On Restarting Country’s Economy

14:27, 04 Iul. 2009
Romanian Prime Minister Emil Boc said Saturday he will not go on vacation this year, because he needs to get the country through a difficult year, adding he hopes his wife and two daughters would understand his decision.

Romania Needs To Rebuild Trust To Overcome Crisis – Ctrl Bk Gov

12:20, 02 Iul. 2009
Rebuilding confidence is essential for Romania’s economy revival from the ongoing crisis, central bank governor Mugur Isarescu said Thursday.

Romanian President Pushes For Improved Regulation, Closer Monitoring Of Financial Institutions

12:26, 16 Iun. 2009
Romanian President Traian Basescu on Tuesday said high interest rates charged by banks can seriously affect the country’s economy and eventually banks and voiced out the stringent need for improved regulation and closer monitoring of financial institutions.

Basescu: Ctrl Bk’s Optimism On Econ Evolution Is Not Justified, Romania To Enter Recession

13:26, 14 Iun. 2009
Romanian President Traian Basescu told ministers, within the government meeting on Sunday, that the central bank’s optimism about the country’s economic evolution is not at all justified, adding Romania will see a decrease in gross domestic product in the second quarter too and enter recession.

Romanian PM Upbeat On Govt’s Ability To Revive Ailing Economy

16:38, 16 Mai 2009
Romanian Prime Minister Emil Boc said Saturday in northwestern city of Cluj-Napoca, at the launch of democrat liberal candidates for EP elections, that the government managed to curb the effects of the economic crisis, adding "Romania’s economy is likely to revive in the second and third quarters."

Romanian PM Is Confident The Economy Will Revive Soon

15:20, 15 Mai 2009
Romanian Prime Minister Emil Boc said Friday he chooses to see the glass half-full as regards the economic recession, pointing to some signs of an economic revival in March and April, such as increasing budget receipts and lower unemployment, despite grim data on first quarter GDP.

Romanian 1Q GDP Dn 2-4.1%, Analysts See Technical Recession

13:11, 14 Mai 2009
Romania’s gross domestic product, or GDP, fell 2%-4.1% on the year in the first quarter, according to economic analysts, while part of them say the economy might have already entered technical recession based on its first quarter evolution.

April Data, A First Sign On Economy Relaunch – Romanian Min

13:26, 11 Mai 2009
Romanian deputy prime minister Dan Nica stated Monday, after the ruling coalition’s meeting, that April’s economic data presented by the Finance Minister Gheorghe Pogea show a first sign of economic relaunch.

Romanian Ctrl Bk Gov: Rebuilding Trust Is Essential

16:44, 01 Apr. 2009
Rebuilding the trust in Romania’s economy is essential at the moment and a good collaboration between economical, political and social factors is needed, the central bank’s governor Mugur Isarescu said Wednesday.

Romanian Economy May Enter Technical Recession After 1Q – Raiffeisen Analyst

12:46, 11 Mart. 2009
Romania will probably enter a technical recession following the first quarter, as the country’s gross domestic product fell by 3% in the last quarter of 2008 compared with the previous quarter, Raiffeisen Bank chief economist Ionut Dumitru said Wednesday.

Romania’s EU Convergence Program Considers Higher Retirement Age, Limited Wages, Recession

16:14, 01 Mart. 2009
Romania’s convergence program to be sent to the European Commission sets, among others, to increase retirement age, grant limited wage hikes and halt new hiring in the public sector in 2010-2011 and considers the risk of recession after nine years of economic growth.