Romanian Teachers To Get Their Wages One Week Later
The representatives of the Federation of Free Unions in Education (FSLI) said teachers’ wages will be paid one week later because of a Finance Ministry order regarding new fiscal-budgetary measures.
The order was issued in December and takes effect as of January, but the logistics system of the regional treasury units fails to meet requirements and the secretarial and accounting services within education units have difficulty in drawing up the pile of documents needed for the payment of salaries, according to unionists. (Evenimentul Zilei)
Employment Agency To Transfer Data & Apps Center To Secured Storage Space
Romania’s National Employment Agency (ANOFM) will transfer in January its data and applications center to a secured storage space.
The move will neither affect the activity of the regional employment units nor delay the payment of unemployment benefits. (Adevarul)
Romania Might Eliminate Tax On Reinvested Profit Starting July 2014
Romania’s Finance Minister Daniel Chitoiu said the measure to eliminate taxed on reinvested profit could be applied starting July this year, along with measure aimed at lowering social security contributions.
The minister said the measure will be applied only if it does not have a negative impact on the state budget and following talks between the ruling coalition members and the officials of the International Monetary Fund (IMF). (Gandul)
Raiffeisen Bank To Lend EUR40M To SMEs Via JEREMIE Program
Romanian lender Raiffeisen Bank will grant loans in lei, in the amount of EUR40 million, to small- and medium-sized enterprises (SMEs), through the Joint European Resources for Micro to Medium Enterprises (JEREMIE) program managed by the European Investment Fund.
Loans, which will be granted on a medium and long term, will be used to finance working capital and investments.
The JEREMIE initiative developed in cooperation with the European Commission allows member states to use part of their EU structural funds to finance SMEs. The program targets to ease SMEs’ access to financing.
Loans under the program have lower interest and low guarantees, of 0% to 70%, depending on the financed SME’s financial situation.
Romania Trade Deficit Narrows To EUR5.2B In Jan-Nov ‘13
Romania’s trade deficit narrowed to EUR5.2 billion in the first eleven months of 2013, as exports rose faster than imports, official data showed Thursday.
In January-November 2012, the deficit was EUR8.7 billion, according to the country’s statistics institute INS.
Exports of Romanian-made products rose 9% on the year to EUR45.7 billion in January through November, while imports inched 0.4% higher to EUR50.9 billion, the data showed.
Vehicles amounted to 41.9% of overall exports and 35% of the imports in the first 11 months of 2013, while other manufactured items made up for 32.8% of Romanian exports and 30.1% of imports.
In November alone, Romania’s trade gap narrowed to EUR389.4 million from EUR428.1 million in the same month of 2012, reflecting a 7.7% increase in exports and a 6.1% decline in imports.
Exports stood at EUR4.5 billion in November, down 3.8% from the previous month, while imports were at EUR4.9 billion, 8.1% lower than in October, the data showed. (Curentul)