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By Edwig Ban
The president of the ruling party in Romania said on Thursday that the government will start the procedure of selecting the firm to deal with the construction of the South Motorway. He specified that at the beginning of the next week will be completed "... the whole procedure, all the documentation and the selection procedure begins, there are many companies interested. (...) This highway is very important, it connects Bucharest, south, with Craiova and goes to Timisoara. But very important is the talk with the President of Serbia, because we want to go on the project that Yugoslavia had done before 1990, Romania and other states, making a much shorter link between Constanta, Bucharest Southwest of Romania, Serbia, Northern Italy, Austria, Switzerland, France, without going any further b ... Read more »
Date: |2019-05-16|

Romania and Hungary register the highest GDP growth in the first quarter of 2019, 5.1% and 5.2%, respectively >>> EC and IMF estimates are not based on the reality of national economies

By Jerom Bolt
Today, Eurostat and the National Institute of Statistics have reported "signal" estimates for GDP growth in the EU. In the euro area it was only 0.4% and in the EU 28 0.5%.
The largest increases in GDP compared to the first quarter of 2018 are recorded in Hungary, 5.2% and in Romania 5.1%.
Other countries with a significant GDP growth are Poland, 4.6%, Slovakia, 3.8%, Bulgaria 3.4%, Lithuania, 3.8%.
Eurostat's statistical data contradicts flagrantly the repeated estimates of some international institutions, such as the IMF, the World Bank or ... Read more »

Date: |2019-05-15|


By Emea Riga
The Romanian Government approved the Memorandum on the Convergence Program 2019-2022, the Ministry of Finance informs.
The document is based on the provisions of the Fiscal-Budget Strategy for the period 2019-2021 and the forecast for the medium-term macroeconomic framework 2019-2022.
According to statistical data, Romania's economic growth is among the highest in the European Union. In the last 3 years, the average annual economic growth was 5.3%, in the year 2016 the economic growth was 4.8%, in 2017 by 7%, and in 2018 by 4.1%. With the high economic growth, Romania's development gaps have diminished compared to other EU countries. In 2017, GDP per capita at the purchasing power standard stood at 62.5% of the EU average, compared with 55.9% in 2015 and 59.3% in 2016. It is estimated that in 2018 GDP p ... Read more »
Date: |2019-05-10|

The Summit of the 13 states in Eastern Europe, held in Warsaw on May 1, is a signal that the European Union is broken in two. On the one side, the group of states that want to lead the Union, Germany, France, the Netherlands, on the other, the Eastern European states, newly admitted to the EU.
The fact that at the Summit that marked the 15th anniversary of the enlargement of the EU with the Eastern countries did not attend any high official from the EU, neither from the European Parliament nor from the Commission, it confirms the above.
Two days later Jean-Claude Juncker confirm that "the EU is a abandoned bride, Europeans no longer love" has no value for the future of the EU.
Donald Tusk, the President of the European Council, is a little more exciting. He draws attention to "... the danger posed to ... Read more »
Date: |2019-05-04|


By Constantin Radut
We welcome with conviction the meeting organized by the Polish Government on the occasion of 15 years since the "new wave" of the EU enlargement covered another 13 states. All these states have experienced a black period in their history. All these states were abandoned, after World War II, by the powers of the time, and left in the beating of Stalin's rifle and his descendants in the Soviet Union.
The 13 states, now members of the EU, have crossed a politically difficult period of democracy, the power to express their national identity.
From an economic point of view, with all the restrictions of the totalitarian regimes, the former Communist bloc states have managed to build an industrial system that has ensured the almost uniform development of the various internal regions. In some sectors, some eastern states even ha ... Read more »
Date: |2019-05-02|

>>> The investment will take place in a public-private partnership >>> The value of the investment is over 6 billion euros


By Edwig Ban
On 9 May, the final form of the agreement between Nuclearelectrica Romania and China Nuclear Power will be signed for the company that will build in the public-private partnership the reactors 3 and 4 of the Cernavoda nuclear power plant, according to sources in the market energy.
Investors' agreement will be signed on May 9th. The agreement approves the establishment of the Romanian-Chinese company that will carry out the project of finalizing the reactors 3 and 4 of the Cernavoda nuclear power plant, an investment of over 6 billion euros.
The signing of the final agreement takes place after the Nuclear ... Read more »

Date: |2019-04-23|

>>> Romania wants to launch the concrete proposals, together with other states, at ECOFIN

By Constantin Radut
The exodus of Eastern Europe to Western Europe is one of the biggest migratory waves that have taken place over the last two centuries in Europe.
According to Eurostat statistics, over 12 million East workers are left in the West, lured by promises for a better life.
Approximately 5 million Poles, followed by nearly 4 million Romanians, over 1 million Bulgarians, Hungarians, Slovaks, Croats, Serbs, Albanians are going to work in states like Germany, France, Italy, UK, Spain. Most of them are exploited for wretched salaries or are being discriminated against in various forms.
The economic advance of the Eastern c ... Read more »

Date: |2019-04-22|


By Constantin Radut
The Ministry of National Defense (MApN) has not yet decided on the acquisition of the four multifunctional corvettes. Today, Minister Gabriel Leş said that in "maximum two or three weeks" he could make a decision. stupefaction: Gabriel Les says the decision could be to announce a winne or to cancel the procedure.
In January, the MApN suspended the acquisition of four multi-function corvettes and modernization of the two Type 22 frigates of the Naval Forces. The officials in the ministry announced in January that they filed a criminal complaint with the Military Prosecutor's Office after information leaked in the press about the prices offered by the three remaining competitors. According to that information, Naval Group and Constanta Shipyard (SNC) offered the lowest price ... Read more »
Date: |2019-04-18|

By Jerom Bolt
The Black Sea has a potential of over 200 billion cubic meters of gas and 60% of Romania's production will come from offshore deposits in 2030, said Sorin Gal, director of the National Agency for Mineral Resources (ANRM), at a conference in Bucharest.
'The Black Sea Potential estimated by us is of over 200 billion cubic meters. I believe there is much more to this and reinforced this by the fact that, after the construction of surface and underwater pipelines that bring gas to shore, both by the owner of the fields of Ana and Doina (Black Sea Oil and Gas) and future producers OMV, Exxon, Lukoil will create the opportunity to grow and small deposits, "Gal explained.
He has shown that, besides the large deposits of 30-40 billion cubic meters, there are many smal ... Read more »

Date: |2019-04-17|

By Jerom Bolt
Black Sea Oil & Gas SRL (“BSOG”) together with its co-venture partners, Petro Ventures Resources SRL (“Petro Ventures”) and Gas Plus International B.V. (“Gas Plus”) are pleased to announce that, following the taking of FID on February 6, 2019, they have now received the approval from the Romanian Government through the National Agency for Mineral Resources (“NAMR”) for their Field Development Plan (“FDP”) for the development of the Ana and Doina natural gas fields which make up the Midia Gas Development Project (“MGD Project”), offshore Black Sea.
The MGD Project, which is the 1st new offshore gas development project in the Romanian Black Sea to be ... Read more »

Date: |2019-04-15|

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The Romanian Business Journal
Constantin Radut
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