EBRD Keeps 2014 GDP Growth Forecast For Romania
The European Bank for Reconstruction and Development has maintained its forecast on the Romanian economic growth unchanged at 2.4% in 2014, driven by exports and less sluggish domestic demand, but warned of a high ratio of bad loans as well as of external risks from the euro area.
In its latest Regional Economic Prospects report released Tuesday, the EBRD also said that growth prospects in the short term continue to be constrained by a weak eurozone.
The high level of NPLs at home, which top 20% of total loans, coupled with an ongoing cross-border deleveraging could further hinder economic growth, EBRD said. (Curentul)
Finance Ministry To Lower Cash Payments Between Individuals To RON10,000 A Day
The Romanian Finance Ministry will lower the ceiling for daily cash payments between two or more individuals to RON10,000, while the ceiling for cash payments between companies or between companies and individuals will be cut to half, from 10,000 to RON5,000 a day.
Currently, there is no ceiling for cash payments between individuals, while the ceiling for company-to-company cash payment is RON10,000 a day, according to Agerpres.
The Finance Ministry plans to implement the new measure by the end of February. (Evenimentul Zilei)
Antitrust Watchdog Fines National Lottery, Intralot, Intracom, Lotrom Companies
Romanian antitrust regulators gave fines worth RON16.85 million to the National Lottery Company, Intralot, Intracom and Lotrom companies, for having implemented the video-lottery program which eliminated competition on the market through a 10-year contract, between 2003 and 2013.
“Antitrust regulators established that the four companies closed an agreement on the implementation of the video-lottery program in Romania, by setting up a non-competition clause within the credit – provider contract. According to the clause, between 2003-2013, the Romanian Lottery Company was not allowed to develop another video-lottery program or a similar program with another company, “ according to a release of the antitrust authorities. (Adevarul)
European Commission To Publish Cooperation and Verification Mechanism Today
European Commission criticizes “The black Tuesday“ in December 2013, when the members of the Romanian Parliament tried to boost their immunity in case of corruption charges, according to the Cooperation and Verification Mechanism (CVM) report.
Mark Grey, the European Commission spokesperson, stated that the report would be published today.
“Adevarul” newspaper obtained a draft of the report to be published today, presenting the issues of the judicial system and the pressure on the judiciary. The progresses that Romania should make in this sector would also be monitored this year. (Adevarul)
Social Democratic Party Says Will Further Support Regionalization
The Romanian Social Democratic Party will maintain the idea of regionalization and will introduce the region as administrative unit in the new Constitution. Nevertheless, the government would not mention the number of regions yet, as it would decide on the matter later.
“The new Constitution would definitely include the region as administrative unit. The county would not disappear but this new administrative unit, the region, will also be introduced”, PSD senator Ioan Chelaru, vice-president of the Constitution Revision Commission, told Agerpres. (Evenimentul Zilei)
Romanian Students May Join Project On US Lifestyle, Language
Romanian high-school students may join a project that would familiarize them to the US lifestyle and culture, and at the same time, with the English language.
As of January, high-school students in Bacau county may attend classes and sessions by which they can learn English and get familiarized with the US lifestyle, culture and civilization, according to the latest project launched by the Teaching Staff Body (C.C.D.) “Grigore Tabacaru’ in Bacau.
“The English Access Microscholarship Bacau Program“ will include several actions in the next two years, and will be funded by the US Department of State, via the US Embassy in Bucharest, Agerpres reported. (Curentul)