Ludovic Orban Thinks Sorin Oprescu Has The Upper Hand In Elections
Liberal Party first vice-president Ludovic Orban thinks current Bucharest mayor Sorin Oprescu has he upper hand in elections for a new term.
Orban announced he would be running for mayor of the capital city.
“As there will be only one round of elections, the current mayor has the upper hand,” said Orban. (Puterea)
Transgaz And Bulgartransgaz Seek New Contractors For Giurgiu-Ruse Pipeline
Romania and Bulgaria’s national gas transporters Transgaz and Bulgartransgaz are seeking new contractors for the Giurgiu-Ruse pipeline after firing previous contractors over technical issues.
The project interconnecting the national gas transport systems of Romania and Bulgaria, on the Giurgiu–Ruse route was launched in 2011 and should have been completed two years later, but the deadline for the launch of the project was extended due to technical issues.
The works on the pipeline started back in 2012.
According to Transgaz, the onshore segments of the project have been finalized in both countries, while the works completed on the Romanian territory totaled EUR6.7 million, of the total estimated EUR10.9 million.
The total estimated value of the project is EUR 24 million, while EUR8.9 million will come from the European Commission. Bulgartransgaz will invest EUR14 million in the project. (Adevarul)
VAT Cut On Food Raised Budget Revenue
A cut in the VAT rate on food from 24% to 9% in June brought higher revenue to the state budget as tax collection increased and consumption grew.
VAT collection increased 22.1% in June compared to June 2014 and by 1% in July compared to June 2015. The tax authority collected RON4.7 million in VAT in July, RON48.46 million more than in July last year.
The tax rate cut lowered shelf prices by around 12%. (Evenimentul Zilei)
Central Bank Sees Inflation In Negative Territory For Next 3 Quarters
Romania’s economy is not threatened by deflation, despite expectations of a negative inflation rate over the next three quarters, as consumption is increasing while new wage increase may even bring about renewed inflationary pressures, central bank governor Mugur Isarescu said.
The central bank said the inflation rate will stay negative over the next three quarters, but it will return to positive territory by the start of 2017.
However, the bank chose to keep its main monetary policy rate unchanged at 1.75% a year in Tuesday’s meeting, as it awaits the final fiscal stimulus package. (Romania Libera)
Nearly One In Five Students Drops Out Of School Early
Nearly one in five students drops out of school early, according to the most recent data included in the 2015-2020 National Strategy for Tertiary Education adopted by the government.
The strategy aims to get students to go to university, as the university enrollment is in sharp decline. (Puterea)