People In Search Of A Job May Receive Unemployment Benefits
People seeking jobs may receive unemployment benefits, under certain conditions.
Under the law, a person who no longer has a job may receive unemployment benefits which are granted in accordance with the respective person’s contribution and represent 75% of the value of the valid social reference indicator. (Adevarul)
Ioan Rus Says Government Will Approve Transport Master Plan Next Week
Transport Minister Ioan Rus previously said the first version of the country’s Master Plan stipulates only 656 kilometers of highway will be built until 2010, whereas the final form of the Mater Plan stipulates no less than 1,300 km.
Rus made public Tuesday the latest details of the Transport Master Plan, which, according to him, will be approved by government next week and reach the European Commission by March 15.
Actually, the routes Sibiu-Pitesti, Bacau-Pascani, Targu Neamt-Iasi-Ungheni and Targu Mures-Targu Neamt, initially stipulated in the Master Plan as express roads, will be built as highways.
Romania ought to build 656 km of highway and 2,226 km of express roads by 2030, according to the Transport Master Plan for 2014-2030. (Evenimentul Zilei)
IMF Says Romania Remains Vulnerable To External Shocks
The Romanian economy has largely corrected the internal and external imbalances through a mix of solid macroeconomic policies, but Romania remains vulnerable to external shocks, experts of the International Monetary Fund (IMF) said in a statement.
In its final statement issued at the end of its mission in Bucharest, the IMF said talks with the Romanian authorities have been constructive, but a number of issues have yet to be discussed, and that it is why the mission will not end with an analysis in the IMF’s Board.
Romania’s government failed to agree with the IMF and the European Commission on several energy issues, Prime Minister Victor Ponta said Monday after talks with international creditors, adding the agreement stays in place and a new review will take place in April.
The IMF-EU mission has requested the liberalization of natural gas prices for households and thermal energy producers as of this spring, which would have led to an “abrupt” price increase, from 53.3 lei (EUR12) per megawatt-hour to RON62 per MWh, Ponta said.
Moreover, the IMF requested a drastic restructuring of coal-fired energy producers Hunedoara and Oltenia, but Ponta said this “massive” reorganization would only lead to the closing of an “essential” sector for Romania’s energy security.
Ponta said that, due to these disagreements, the government has not signed the letter of intent but the EUR2 billion stand-by facility stands, and the international institutions will return in April for a new round of talks. (Puterea)
Finance Minister And Commercial Banks Team Up To Find Solution For Swiss Franc Loan Holders
Romanian Finance Minister Darius Valcov and representatives of commercial banks that granted loans in Swiss francs have teamed up in order to find a new solution to the problems faced by people holding Swiss franc loans.
The minister failed to provide any details, but said there had been a series of talks which will continue in upcoming days.
Valcov recently said the central bank ought to get “more” involved in tackling the problem of people with Swiss franc loans, because it has all the means to do that.
Converting Swiss franc loans into lei at the historical exchange rate would generate a loss of RON5.7 billion, or 0.8% of GDP, for banks that granted such loans, and a 20% addition, as requested by consumers, would cause a loss of RON4.5 billion, or 0.6% of GDP, central bank governor Mugur Isarescu said recently in a press conference.
The Swiss National Bank’s decision to scrap its limit on the franc’s strength several weeks ago sent the Romanian leu to 4.5 against the Swiss currency, from around 3.7 before January 15.
According to central bank data, currently there are around 75,000 debtors in Swiss francs, who were lured by the lower interest rates compared with most currencies. (Adevarul)
President Klaus Iohannis Meets French President François Hollande
Romanian President Klaus Iohannis met French President François Hollande in Paris, on Tuesday.
Iohannis asked for “France’s support in view of Romania’s accession to the Schengen Area,” and talked, among others, about the image that Romania and the Romanian community in The Hexagon have in France and the events in Ukraine. (Puterea)