Romania Average Net Salary Up 0.4% In October
Romanian average net salary increased 0.4% to 1,705 lei (EUR380) in October, from RON1,698 a month earlier, the statistics institute INS said Monday.
Gross average salary was also 0.4% higher on the month, at RON2,358, the data showed.
Staff in the oil and gas sectors received the biggest paychecks in October, of RON4,500, the data showed. At the opposite end, hotel and restaurant employees received the lowest monthly salaries, of RON998.
In October compared with the year-earlier month, Romanian average net salary rose 5.6% in nominal terms. (Puterea)
UN Committee Urges Romania To Adopt Strategy On Sexual And Reproductive Health
The United Nations Committee on Economic, Social and Cultural Rights (U.N. CESCR) has called on the Romanian government to revise its laws and policies to ensure access to reproductive health care for women and adolescents in the country.
In its recommendations, issued on 28 November, the Committee stressed that in order to comply with its international human rights obligations, the Romanian government should adopt a national strategy on sexual and reproductive health and implement a comprehensive mandatory program on sexual and reproductive health in schools to reduce teenage pregnancies, according to Mediafax.
Romania, a member state of the European Union, lags far behind the rest of the EU in advancing the sexual and reproductive health and rights of adolescents and women. According to official statistical data, the maternal mortality rate in Romania is twice the EU average. The country has the highest number of live births among girls aged under 15. (Adevarul)
Romania Allegedly Convinced IMF And EC To Agree With 1.4% Deficit Of GDP In 2015
The Romanian Government reportedly convinced the International Monetary Fund (IMF) and the European Commission to agree with a budget deficit of 1.4% of the gross domestic product for 2015, people close to the talks said.
On December 5, the IMF and the Commission asked the Romanian government to bring next year the budget deficit to 0.9% of the GDP, but the local authorities considered the request unacceptable.
The different views were confirmed by Romania’s budget minister Darius Valcov, who said his only mandate in the current negotiations is to get approval for a deficit of 1.4% of GDP for 2015, with a possible increase allowed for co-financing of EU-funded projects.
International financial institutions say the deficit calculated according to ESA standards (used by the European Commission) should be the same with the one calculated by the cash methodology (used by Romanian authorities). (Romania Libera)
Faurecia To Open Car Parts Plant in Valcea In 2015
French car parts maker Faurecia will open a new factory in Valcea in 2015. The company opened its first plant in Valcea in 2013, where it employs some 300 people.
“The plant is to be built in 2015 and is likely to be inaugurated the next fall, according to recent talks with its management. The municipality will put at disposal three hectares in the area of industrial park Ostroveni,” said Valcea prefect Dumitru Cornoiu.
Faurecia manufactures car parts for Ford, Renault-Nissan, Peugeot, BMW, Daimler, General Motors, Toyota and Hyundai. Faurecia also has plants in Romania’s cities of Pitesti, Craiova and Talmaciu, where it makes car seats, vehicle interior systems and emissions control systems. (Puterea)
Moody’s: Negative European Banking System Outlooks, Romania To Be More Exposed To FX Volatility In 2015
In most European banking systems, financial stability is improving, but rising bail-in risks and weak profits pose challenges, says Moody’s Investors Service, according to the new report “2015 Outlook – European Banks”.
Romania is likely to be more exposed to FX volatility in 2015, the same source informs. Referring to the Central and Eastern European Countries (CEE), the report reads that the economies and banking systems are on a recovery trend, despite the key downside risk posed by CEE’s significant trade linkages with the core EU countries which are facing weak macroeconomic conditions.
“Having a high share of foreign currency lending, Hungary and Romania are likely to be more exposed to FX volatility in 2015, exacerbated by reduced funding levels from parent banks. Ukraine crisis and geopolitical risks will result in CIS banks’ asset quality and capital remaining under pressure in 2015,” the report reads. (Adevarul)