Coface Sees Romania GDP Growth At 2.5% In 2014
Coface ratings agency forecasts Romania’s economic growth rate at 2.5% in 2014, closer to the forecasted CEE average growth rate of 2.4%, but one percentage point below 2013 GDP growth. According to Coface, Romania has exceeded expectations in 2013, with GDP rising by 3.5%, but the strong growth dynamics are unlikely to be repeated this year.
“Romania recorded one of the highest GDP growth rates in the whole of Europe in 2013. The growth of 3.5% significantly exceeded the Eurozone recession and the CEE average of 1.2%. The main contributors to this positive performance were the good agricultural harvest and a high level of exports. However, neither of these can be considered as sustainable factors. The recovery of advanced economies will be beneficial to Romania’s external trade, especially its automotive sector, although the country’s internal situation continues to be a constraint“, explains Grzegorz Sielewicz, Economist, Coface Central Europe. (Evenimentul Zilei)
Romania To Hold Regional Policy Portfolio In European Commission
Germany and Belgium could hold two of the most powerful posts in the next European Commission, taking on trade and antitrust regulation respectively, while Romania will get Regional policy portfolio, according to a draft version of the line-up for the new EU executive seen by Reuters.
Wednesday, European Commission President-elect Jean-Claude Juncker will release the list of commissioners and their jobs for the next five years. The draft does not mention nominees for some of the top positions, and might also suffer changes, according to Reuters. (Jurnalul National)
European Funds Ministry Adds EUR60M Extra Funds To Innovation, Research, Development
European Funds Ministry supplemented by EUR60 million the budget of Sectoral Operational Programme “Increase of Economic Competitiveness” for innovation, research and development.
Thus, financing contracts have been signed for all the 17 projects on the secondary list, which obtained 26 points following the evaluation and selection process, and which fulfilled the eligibility criteria. (Romania Libera)
Siveco CEO Irina Socol Detained In Tax Evasion Case
Irina Socol, CEO and shareholder of Romanian software developer Siveco Romania, was detained by prosecutors Tuesday in a tax evasion case.
Socol is accused of orchestrating fictitious transactions with more than 50 firms, evading more than EUR3 million in taxes. Prosecutors say Siveco bought fictitious programming services from several firms, some of which had nothing to do with software. (Gandul)
Around 60% Of Romanian Students Pass 2014 High School Graduation Exam
The Education Ministry finalized the report on the results of the high school graduation exam in 2014, both summer and autumn sessions.
Thus, of the 166,415 candidates attending the high school graduation tests, representing classes of 2014 and previous years’ classes, 62.6% passed the exam. (Puterea)