Romania Economy Growing Faster Than Expected – Budget Minister
Romania’s minister delegate for Budget Liviu Voinea said Monday that the economy is growing faster than initially estimated and encouraged companies and households to speed up the consumption pace.
“The 2014 economic growth will be well above estimates. People should have confidence and spend more, while the companies should take out loans for investments,” Voinea told a conference organized by Ziarul Financiar.
He estimated the economy advanced 3% to 4% in the first quarter.
“This makes us confident that the full-year growth will exceed 3.5%,” Voinea said. (Evenimentul Zilei)
Romania Trade Deficit Widens To 1.11B In First Quarter
Romania’s trade deficit widened to EUR1.11 billion in the first quarter, from EUR1.07 billion a year earlier, the country’s statistics institute INS said Monday.
Exports of Romanian-made products rose 10.1% to EUR12.75 billion in January through March, while imports increased to EUR13.87 billion, from roughly EUR12.66 billion in the year-ago period.
Vehicles amounted to 42.5% of overall exports and 35% of the imports in the January-March period, while other manufactured items made up for 32.5% of Romanian exports and 29.8% of imports, the data showed.
In March alone, Romania’s trade gap narrowed to EUR551.4 million from EUR570.2 million in the same month of 2013, with exports rising at a faster pace than imports. (Curierul National)
Romania Inflation Rises To 1.2% In April
Romania’s annual inflation rate rose to 1.21% at the end of April, from an all-time low of 1.04% a month earlier, ending a five-month period of declines, official data showed Monday.
The consumer price index advanced 0.3% last month, driven by a 0.7% increase in non-food prices. Food and service prices each decreased by 0.1% on the month in April, the country’s statistics institute INS said.
Romanians paid by 1.3% less for fresh and canned vegetables in April compared with a month earlier, while egg prices declined 2.9%.
On the other hand, fuel prices increased 3.2% on the month, while tobacco and cigarettes were 1.8% more expensive, the data showed. (Puterea)
PM Ponta Says Will Make All Important Decisions For Romania As Defense Council VP
Prime Minister Victor Ponta said he will make all important decisions for Romania until May 25 as vice-president of the country’s Supreme Defense Council (CSAT).
Ponta pointed out that President Traian Basescu is busy campaigning for Elena Udrea. (Gandul)
US Vice President Biden To Visit Romania May 20-21
Romania’s presidential administration said President Traian Basescu has invited to Romania the Vice President of the United States, Joseph Biden.
Biden will be in Romania on May 20-21.
The White House announced Monday that Biden will discuss the Ukraine crisis next week while visiting Romania and Cyprus.
Biden will be in Europe from May 20 until May 23. In Bucharest, Biden is scheduled to meet with Basescu and with U.S. and Romanian troops conducting a joint military exercise. Biden also plans to give a speech to Romanian civil and youth leaders. (Evenimentul Zilei)