President Klaus Iohannis Signed First Bills Into Laws
President Klaus Iohannis has promulgated his first laws since taking office.
He has promulgated the law allowing the government to issue emergency ordinances during parliament recess and an emergency decree regulating the activity and attributions of the ombudsman. (Adevarul)
Labor Minister Calls On Liberals To Pull Constitutionality Claim On State Budget
Labor Minister Rovana Plumb called on Liberal Party leaders Tuesday to withdraw the party’s challenge on the constitutionality of the 2015 state budget.
She said the challenge would postpone the enforcement of social measures that should take effect as of January 1. (Puterea)
Liberals Contest Constitutionality Of Newly-Adopted Cyber Security Law
Liberal Party first vice-president Ludovic Orban announced Tuesday liberals have contested the cyber security law at the Constitutional Court.
The law was initiated by the government and was adopted unanimously in the Senate last week. (Romania Libera)
Lower Key Rate Didn’t Have Expected Effect Of Boosting Lending
The lowering of the monetary policy rate did not have the desired effect of restarting lending, meaning the economy is not yet recovering.
Although the central bank has repeatedly lowered the key rate this year, to a record 2.75%, private lending only rose 0.1% on the month in November. Compared to November 2013, private lending declined 4% in real terms.
Analysts expect the key rate to be lowered further as inflation continues to drop. (Romania Libera)
Half of Romanian SMEs Face Cash Flow Management Issues
Over half of Romanian small and medium-sized enterprises (SMEs) face cash flow management issues while 60% of them face difficulties in keeping record of finance although one in two entrepreneurs want to keep full control of accounts, according to a Visa Europe study.
At the same time, SME entrepreneurs are not ready for complex financial decisions although they are constantly concerned with the company’s financial records.
SMEs entrepreneurs and managers are cautious in accessing bank loans and prefer counting on their own resources, according to a Visa Europe study on SME payment behavior.
Two thirds of SMEs hold only one bank account, while 70% of companies with one or more current accounts prefer working with only one bank. Interaction with the bank is generally limited to cash withdrawals and deposits. (Curierul National)