Romanian PM To Run Half-Marathon On May 18
Romanian Prime Minister Victor Ponta confirmed he will take part in a half-marathon held on May 18 in Bucharest.
Ponta said he hopes to pass this endurance test successfully. (Gandul)
Parliamentary Constitution Revision Committee Resumes Work
The parliamentary committee for the revision of Romania’s Constitution has started works again but the political decision regarding the fundamental law is expected to be made in 2015.
Although the committee has resumed work on a draft constitution, the revision will not take place until 2015. The future Constitution is expected to be directly influenced by whichever party of political alliance manages to win the presidential election in November. (Evenimentul Zilei)
Romania January-February Trade Gap Widens To EUR566M
Romania’s trade deficit widened 11.6% on the year to EUR566 million in the first two months, with imports rising faster than exports, the country’s statistics institute INS said Wednesday.
Exports of Romanian-made products rose 9.2% on the year to EUR8.27 billion in the January-February period, while imports advanced 9.4% to EUR8.84 billion, the data showed.
In February alone, the country’s trade gap widened to EUR314.8 million from EUR208.4 million in the same month of 2013. Exports increased 12% on the year to EUR4.33 billion in February, while imports were up 14% to EUR4.65 billion. (Curierul National)
Romania Needs Ten Years To Become Eligible For Eurozone – Central Bank Official
Romania needs at least ten years to reach a GDP per capita of 60% of the EU average and be eligible for the eurozone, central bank chief economist Valentin Lazea said Wednesday at the Coface 2014 country risk conference, organized by Coface and Mediafax.
Lazea said Romania’s potential GDP in current conditions, as determined by capital, workforce, productivity, is of around 2% a year. He added this is his personal opinion and does not represent the position of the Romanian central bank. (Curentul)
Private Debt Level Is Elevated; Companies Need More Capital
Private indebtedness levels in Romania are high for both population and companies, which need more capital to stay competitive, said Ionut Dumitru, chief senior economist with Raiffeisen Bank Romania.
Speaking at the Coface 2014 country risk conference Wednesday, Dumitru said Romania has the second-highest household debt service ratio in Europe, after Cyprus.
“The indebtedness level of low-income households is rather high in Romania. The debt service ratio in that particular segment exceeds 60%,” he said, adding that companies do not lag far behind. (Gandul)
Romanian Government Approves Bill Making Prepaid Mobile Phone Cards Traceable
Romanian prepaid mobile phone card users will have to register their ID with their mobile opeator or their service would be suspended and people buying prepaid SIM cards will have to present ID upon purchase.
The Romanian government approved a bill Wednesday setting personal data is to be collected for prepaid card users, making prepaid cards traceable.
The bill will take effect when the Parliament adopts it and existing prepaid users will then have six months to register their ID with operators. (Adevarul)