Macroeconomics
State Companies To Freeze Hiring, Limit Wage Expenses In 2012
Romanian state companies and autonomous departments will freeze hiring next year, and those which register losses or receive state subsidies must limit wage expenses to this year’s level, ac...
Government To Cut Almost RON2B In Revenue For Local Budgets In 2012
Romania's Government next year will reduce the share of income tax collections provided to local authorities and will cut transfers to local budgets from taxes on pensions, denying mayors a...
Romanian Tax Authority Impounds Nokia’s Romanian Assets For $10M Debt
Romania’s tax authority ANAF impounded Nokia’s assets in Jucu, northwestern Romania, for a $10 million debt the Finnish mobile giant has amassed in unpaid custom taxes, ANAF chief Sorin Blej...
Basescu: Romania Aims To Have Zero Budget Deficit In 2013
Romanian President Traian Basescu said Thursday, in a meeting with German businesspeople, that Romania's objective is zero budget deficit in 2013.
Romania Has Confirmed Its Intention To Join Euro Area By 2015 - Merkel
German Chancellor Angela Merkel on Thursday said in a joint news conference with Romanian President Traian Basescu that Romania has confirmed its intention to join the euro area in 2015, add...
Cuts Expected At Romania’s 2nd Budget Revision In November
Romanian government is due to release its second budget revision of 2011 at the end of November, with new spending cuts across the board, people familiar with the matter said Thursday.
Romania's Capital Spending Below Expectations, EU Says
Romanian capital spending has been under-executed in the first eight months of the year and is likely to post a more modest growth rate for the whole year compared to original expectations,...
EU: Romania 2012 Deficit To Narrow To 3.7% Of GDP
The European Commission estimates Romanian budget deficit will narrow to 3.7% of the gross domestic product in 2012, from 4.9% of GDP predicted for this year, provided the government continu...
EC Cuts Romania 2012 GDP Growth Forecast On European Worries
The European Commission revised its forecast on Romanian economic growth to 2.1% in 2012 from 3.7% previously, citing worsening conditions in EU markets.