PayPoint Teams Up With BRD Finance For Bill Payment
PayPoint Romania announced the signing of a new partnership, with BRD Finance, for the payment of instalments through this network, PayPoint said in a statement.
The service targets BRD Finance clients who can pay their instalments by means of over 11,700 PayPoint units across Romania.
As per the statement, a BRD Finance client goes to one of PayPoint partner stores with a document containing a barcode, the seller scans this code, cashes the money and gives the client a receipt issued by the terminal, which includes all details of the transaction.
The payment method provided by PayPoint is extremely secure and fast. Furthermore, consumers pay no additional fee and access to the PayPoint system is not conditioned to shopping in the store. (jurnalul.ro)
EC Sees Romania’s Economic Growth Slow Down in 2018, 2019
Romania’s economic growth is consumption driven and is expected to decelerate to 4.5% in 2018 and 4% in 2019, according to the European Commission’s winter 2018 interim economic forecast.
“Economic growth in Romania accelerated in 2017, with real GDP estimated to have grown by 6.7% (year-on-year) – a post-crisis high. The main driver of growth was private consumption, supported by indirect tax cuts and wage hikes both in the public and the private sectors. After contracting in 2016, total investment started to grow again in 2017. Its pace of recovery, however, remained subdued as public investment fell sharply for the second consecutive year,” the Commission said in its report.
Looking ahead, GDP growth is forecast to decelerate to 4.5% in 2018 and 4% in 2019. The growth of private consumption is expected to be more tempered in 2018, as inflation weighs more heavily on real disposable incomes and wage growth slows down. Nevertheless, private consumption is expected to continue acting as the main growth driver over the forecast horizon. Investment is forecast to strengthen on the back of a pick-up in the implementation of projects financed by EU funds, the Commission noted. (cotidianul.ro)
Justice Minister Displeased With European Parliament Debates On Romanian Justice Laws
Romanian justice minister Tudorel Toader said Wednesday evening in Strasbourg that he is not pleased with the debates in the European Parliament regarding the amendments to the Romanian justice laws, arguing “debates took place in a rather politicking manner”.
European Commissioner for Justice, Consumers and Gender Equality Vera Jourova on Wednesday said during European Parliament’s plenary sitting in Strasbourg that European Union institutions are concerned about Romania’s proposed judicial overhaul.
Jourova said institutions such as the European Commission and GRECO (the Council of Europe’s Group of States against Corruption) share the concern of Romanians and top justice watchdog Superior Council of Magistracy (CSM) regarding ruling party PSD’s proposed judicial overhaul. She added that Romania has “one of the best justice system in the region”, but that the latest report within the Cooperation and Verification Mechanism (CVM) expressed the Commission’s concerns regarding the content of the proposed justice laws.
Toader met on Tuesday with European Commission first vice-president Frans Timmermans at the European Parliament headquarters and the two discussed Romania’s judicial reform and amendments to the country’s criminal codes. (jurnalul.ro)
Central Bank Governor: New Price Hikes Until Easter
Central bank governor Mugur Isarescu told a press conference that price hikes will continue until Easter, although the bulk of price increase have already occurred.
The inflation is expected to return to the 1% target only toward the end of the year.
Romania’s central bank on Wednesday raised its benchmark interest rate by a quarter-point, to 2.25% a year, after a quarter-point raise in January.
It also raised the interest for its deposit facility to 1.25% from 1% and the interest for its lending facility to 3.25% from 3%, applicable as of February 8, the central bank said in a statement. (puterea.ro)