Romanian Finance Minister Daniel Chitoiu Resigns
Romania’s Finance Minister Daniel Chitoiu resigned from the Cabinet Thursday following recent conflicts within the ruling alliance over measures that restructure bank loans of citizens with low and medium income.
Sources said the finance minster position could be taken over by current Health Minster Eugen Nicolaescu, who would be replaced by Cristian Busoi, currently head of the National Health Instance House. (Adevarul)
Romania Average Net Wage Rises 6.7% In December
The average net salary in Romania rose 6.7% to RON1,760 EUR370.3) in December, from RON1,650 a month earlier, largely boosted by holiday bonuses, the statistics institute INS said
The gross average salary increased at a similar pace to RON2,430, the data showed.
Staff in the oil and pharmaceutical sectors received the highest salary raise in December (up by 21% to 26.7% from November), followed by personnel in the water transportation, telecom and steel industries (pay increases between 15% and 19.5% on the month).
At the opposite end, Romanians working in air transport sectors and leather processors received by up to 3% less compared with November, the data showed. (Adevarul)
Romania Central Bank Raises 2014 Inflation Forecast To 3.5%
Romania’s central bank Thursday revised its inflation forecast to 3.5% this year from 3%, citing pressure from higher excise duties and a newly announced tax on fuels.
Potential upside risks to the 2014 inflation forecast come mainly from external markets, particularly from capital flow volatility on the back of fluctuating investor appetite and the changes in exposure to the emerging economies, said central bank governor Mugur Isarescu.
He added inflation is expected to slow to historical lows of 0.6%-0.7% in the first quarter of 2014 before returning inside the bank’s target range of 1.5%-3.5%. (Gandul)
President Basescu Invites Turkish Businesses To Invest In Romania
Romanian President Traian Basescu invited Turkish business-owners to have confidence and invest in Romania.
Basescu said commercial exchanges between Romania and Turkey currently stand at $5 billion and he hopes the amount will double. (Curentul)
Pharmaceutical Companies Say Clawback Tax Hinders Investments
Pharmaceutical companies operating in Romania said they might have to discard investment plans for this year and renounce unprofitable products following a 30% increase in the clawback tax in the fourth quarter of 2013.
“The under-financing of the health system has become unsustainable and pharmaceutical producers can no longer finance the system’s deficit through the clawback tax. (…) We will have to give up investments in 2014 until a solution is found for the clawback tax,” said Dragos Damian, president of the Association of Generic Medicine Producers in Romania (APMGR). (Adevarul)