In January 2017, the World Bank estimated the Romanian economy will grow by 3.7% this year, after a 4.7% growth in 2016. The institution also forecasted that Romania’s economy will increase by 3.4% in 2018 and by 3.2% in 2019.
The European Commission (EC) has revised downward its forecast on Romania’s 2017 economic growth by 0.1%, to 4.3% from 4.4%, below the Romanian Government’s projection of 5.2%, and kept its GDP growth forecast of 3.7% for 2018.
The European Bank for Reconstruction and Development (EBRD) has raised by 0.3% its economic growth forecast for Romania, to 4% for 2017, according to its latest Regional Economic Prospects report released on Wednesday. The bank also expects Romania’s economy to grow 3.5% in 2018.
In its latest report on the World Economic Outlook, the International Monetary Fund (IMF) estimated Romania’s economy will increase by 4.2% in 2017 and by 3.4% in 2018. (adevarul.ro)
Personal Insolvency Law Becomes Effective On August 1, 2017
The personal bankruptcy law becomes effective on August 1, 2017, said the Romanian Government’s spokesperson Alina Petrescu.
The law regulating the personal bankruptcy procedure for natural persons sets that people unable to pay their debts, through no fault of their own, can reschedule their debts based on a financial recovery plan, over a five-year period.
Under the law, the people declaring personal bankruptcy are protected against foreclosure. However, a debtor’s expenses will be checked upon by a judicial administrator. People convicted of tax evasion or those entering insolvency fraudulently or amassed new debts by making expensive acquisitions shall not enjoy the provisions of the law. (puterea.ro)
Egypt Buys 120,000 Tons Of Romanian Wheat
Egyptian authorities on Saturday bought 360,000 tons of Romanian and Russian wheat, at an auction organized by the General Authority for Supply Commodities (GASC) in Egypt.
GASC bought 240,000 tons of wheat from Russia and 120,000 tons of wheat from Romania.
The U.S. Agriculture Department recently estimated that Egypt would buy nearly 11.8 million tons of wheat in the 2016/2017 fiscal year, compared with 11.9 million in the previous year. (romanialibera.ro)
Exit Poll For Craiova City Hall: Social Democrat Candidate Gets 44.4% Of The Votes
Social democrat candidate for the position of mayor of the city of Craiova got the highest number of votes at partial elections held in the city.
Mihai Genoiu secured 44.4% of the votes, according to an exit poll released at 8 p.m.
Anisoara Stanculescu, candidate from the Alliance of Liberals and Democrats (ALDE), garnered 18.7% of the votes, while liberal, candidate Mario Ovidiu Oprea got 13% of the votes. (romanialibera.ro)
Romania Reports Lower Number Of Organ Donors
Scandals that have occurred lately affected the Romanian transplant sector which is improperly financed compared with the previous year.
Following repeated scandals, sanitary units involved in identify donors have been checked upon by sanitary inspectors ever since the start of the year.
Sudden checkups targeted transplant-related operations. (adevarul.ro)