BCR Revises Down Romania’s 2015 GDP Growth Forecast
Romania’s largest lender Banca Comerciala Romana, or BCR, revised downwards its forecast on Romania’s economic growth to 2.2% in 2015, from the previous 3%, due to potential tax increase and low investments, the bank said in a statement.
It is the second revision of the GDP growth forecast in two months.
In October, BCR revised downwards its forecast on Romania’s economic growth to 1.8% in 2014 and 3% in 2015, due to the very low public investments and gradual deceleration of Romania’s main trading partners.
The European Commission expects Romania’s economy to grow only 2% in 2014, a significant cut from a 2.8% estimated in June, due to a strong deceleration in the second quarter. (Puterea)
Chevron: Romanian Shale Gas Assessment Unfinished Yet
U.S. energy giant Chevron said it has yet to complete an assessment of Romania’s natural gas potential from shale gas, one day after Prime Minister Victor Ponta expressed doubt about the existence of shale gas reserves there, according to Reuters.
Prime Minister Victor Ponta said on Sunday that Romania had “fought very hard for something that we do not have,” without providing further details.
Earlier this year, Chevron said it finalized exploration works at a well in the eastern Romanian village of Pungesti, after repeatedly postponing operations because of protests from local residents. (Adevarul)
Protocol To Restore USL Alliance To Be Signed This Week – Tariceanu
Calin Popescu Tariceanu, head of the Liberal Reforming Party (PLR), announced Monday that the protocol for restoring the Social Liberal Union (USL) political alliance will be signed this week, before the second round of the presidential elections.
Friday, Liviu Dragnea, the executive president of the Social Democratic Party, stated that the USL alliance will be restored after the presidential elections, without Klaus Iohannis, adding that there are many PNL members and leaders who agree with the restoring of the alliance, as they understood the decision to break it was wrong. (Jurnalul National)
APMGR Asks Future President To Save Local Pharmaceutical Industry
The Association of Generic Medicine Producers in Romania (APMGR) is asking the future president of Romania to take all the necessary steps to save the local pharmaceutical industry.
APMGR said that the local pharmaceutical industry was pushed to insolvency by a burdening fiscal framework, as the clawback tax rose to the highest level so far, at 21% in the third quarter, from 14.5% in the third quarter of 2013. Thus, local producers will be forced to close down the production lines of medical drugs with accessible costs, used daily by the most vulnerable social categories. (Puterea)
Blood Pressure Drug May Reverse Type 1 Diabetes
A commonly used medication for blood pressure, called verapamil, might actually improve and even reverse Type 1 diabetes, according to an U.S. study cited by Mediafax.
Researchers of the University of Alabama at Birmingham discovered that diabetes was eradicated in mice who had been determined to be diabetic, after treatment with verapamil. Type 1 diabetes is the less-common form of the disease, comprising only 5% of those diagnosed with diabetes, and mostly appearing in kids and young adults. (Romania Libera)