Romania May Receive EUR32M For Projects Under Youth Employment Initiative
Romania is likely to receive nearly EUR32 million as pre-financing for projects under the Youth Employment Initiative (YEI), as soon as the operational program for human capital development has been implemented.
The program is expected to be implemented by the end of March.
Romania has been allocated a total EUR105,994,315 under the YEI, for the 2014-2015 period.
To support Romania and the other eligible EU Member States, the European Commission has proposed that EUR1 billion, meaning one third of the total amount allocated to the YEI (EUR3.2 billion), will be made available to Member States starting 2015. Thus, Romania may get pre-financing of EUR31.8 million (20-fold higher than the initial EUR1.6 million amount).
The Commission’s proposal is pending approval by the European Parliament and the Council of the European Union. (Curierul National)
Romania Ranked Next To Last In 2014 Euro Health Consumer Index
A 2014 Euro Health Consumer Index study regarding the national healthcare systems in Europe places Romania 35th of 36 with a score of 453 points out of 1,000.
The first edition of the event “Healthcare Connections” – Education for health in Romania targeted strategic partnerships between the Government, the business environment and non-governmental organizations.
An efficient healthcare system means a solid economy: a healthy population contributes to the economic growth. (Puterea)
Finance Minister Calls On Central Bank Again To Tackle Problem Of Swiss Franc Loans
Romanian Finance Minister Darius Valcov pointed out that 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, according to Mediafax.
Valcov said it is all about monetary policy, which is in the hands of the central bank, whereas the government handles the fiscal-budgetary policy.
The minister also said he wants the central bank to get more involved in this situation since it has all the means to do it.
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. (Romania Libera)
Romania, Among Very Few Countries Whose Debt-To-GDP Ratio Decreased Since 2007
Romania is among the very few countries whose debt-to-GDP ratio has decreased since 2007, by seven percentage points, alongside Israel, Egypt, Saudi Arabia and Argentina, according to a study by McKinsey&Company.
However, Romania’s government debt has increased by 26 percentage points since 2007. Consumer debt rose by one percentage point, while the debt of the financial sector fell 4% in the analyzed interval.
Global debt rose by $57,000 billion between 2007 and mid-2014, accounting for 286% of the world’s GDP, according to data by McKinsey&Company. The global government debt increased by $25,000 billion during the analyzed period and McKinsey&Company analysts expect a similar trend in Europe and Japan in 2105. (Puterea)
IMF Urges Romania To Resume Deregulation Of Gas Prices For Household Consumers
International Monetary Fund (IMF) officials want Romanian authorities to resume the gas price deregulation for household consumers and liquidate energy holding Complexul Energetic Hunedoara, which holds the mines in the Jiu Valley.
Talks between the IMF and Romanian officials reached an impasse again on Saturday and will be resumed Monday, January 9.
The core issues on the agenda target thegas price deregulation for household consumers and Complexul Energetic Hunedoara which includes coal mines in the Jiu Valley. The outcome of talks will be made public Monday, following a meeting between the IMF officials and Prime Minister Victor Ponta.
Complexul Energetic Hunedoara was set up in 2012 through the merger between state-owned thermal power producers Deva and Paroseni. It has an installed capacity of 1,435 megawatts and covers approximately 5% of the country’s entire energy production. (Adevarul)