Code Yellow Alert For Rainfall And Wind; Code Orange Alert For Snowfall
Meteorologists issued a code orange alert for heavy snowfall and snow storms starting Monday evening for the mountainous area of the counties of Brasov, Covasna, Vrancea, Buzau, Prahova, Dambovita and Arges.
Meteorologists also issued a code yellow alert valid from Sunday afternoon, 4 p.m., forecasting heavy snowfall and strong wind in Muntenia, eastern Olteniei and southern Moldavia. Precipitation will exceed 25 liters per square meter and even 40-50 liters/sqm in some areas. The wind will blow hard, temporarily, in the counties of Vrancea, Buzau, Braila, Ialomita, Calarasi and Ilfov, with gusts reaching 55-65 km/hour.
Precipitation will reach 15-20 liters/sqm and even 30 liters/sqm in some areas in Dobrogea and western Oltenia. (puterea.ro)
Bitcoin Hits All-Time High Of $7,998
Bitcoin hit a new record high Friday, coming within $2 of $8,000.
The cryptocurrency touched an all-time high of $7,998.40 in the early hours, U.K. time, according to industry website CoinDesk. The digital currency erased the days gains to trade slightly lower near $7,632 late Friday afternoon.
It’s been a wild week for bitcoin, which sold off heavily last weekend, falling to around $5,500. Since Sunday, the cryptocurrency has risen from that low to Friday’s high, marking a 45 percent increase.
In that time, bitcoin’s market capitalization, or the total value of the digital coins in circulation, has risen from $92 billion to $133.5 billion, according to Coinmarketcap.com. (jurnalul.ro)
Energy Ministry: Natural Gas Supply Ensured Under Normal Market Conditions
The natural gas supply for protected consumers is ensured under normal market conditions and, in emergency situations, by implementing the measures stipulated in the Emergency Plan; the local output covers 90% of consumption, according to a draft released by the Energy Ministry.
Starting with the 2017 – 2018 winter season, the „protected consumer” category includes all household consumers and those providing basic social services, who are connected to a natural gas distribution network. (cotidianul.ro)
Moody’s Report: Fast Wage Hikes Endanger Romania’s Economic Competitiveness
An annual country report of rating agency Moody’s says the fast increase in wages endangers Romania’s economic competitiveness and boosts the current account deficit.
Moody’s experts recommend that Romania should keep a tight grip on government spending, boost the absorption rate of European Union funds and strengthen governance at state-run companies.
The public finance situation kept deteriorating in 2017 and Moody’s expects the trend to continue in 2018 due to the fiscal and budget measures adopted between 2015 and 2016 within the new Tax Code, including a new cut in the standard VAT rate from 20% to 19% and the legislative measures adopted by the social democrat government at the beginning of 2017.
Moody’s expects Romania’s budget deficit to stay at 3% of the GDP in 2017 and exceed this level in 2018. (puterea.ro)