By rbj
The global economy is projected to grow in 2021 by around 5%, the fastest rate recorded in the 21st century, returning the global economy in aggregate to pre- pandemic levels of output by the end of 2021 or early 2022, according to PwC Global Economic Watch 2021.
While the global economy is likely to be back to its pre-crisis levels, the rebound will be uneven across different countries, sectors and income levels. Growth will be contingent on a successful and speedy deployment of vaccines and continued accommodative fiscal, monetary and financial conditions in each country.
”The global optimistic forecasts give confidence that the recovery of the past year losses will be faster than previously thought at the start of the pandemic. Romania is following the g ... Read more »
Date: |2021-01-11|

By Elena Badea, Managing Partner, Valoria Business Solutions

What will make the difference this year? What are the trends that will transform the economic landscape? How should we act to achieve sustainable results and maintain business resilience? These are the questions that the executives I talked to during this period are asking themselves.
Beyond the plans and scenarios prepared by managers, the essential elements for success this year are also given by the ability to observe new trends and agility in adapting to them. To support this process we have put together the recommendations of the specialists from the Valoria team that you find in this article as answers to these two essential questions:
1. What was the most important transformation ... Read more »

Date: |2021-01-05|

By rbj
Two weeks after the parliamentary elections on December 6, 2020, Romania will be led by a new center-right government. It puts an end to over a decade of domination of the center-left forces. Although in the December 6 general election, the Social Democratic Party (PSD) won the most votes, 35%, President Klaus Iohannis, a fierce anti-PSD politician, encouraged a group of PSD opposition parties to form the center-right coalition and supports a tripartite government. The three parties that make up the coalition are the National Liberal Party (PNL), the Save Romania + PLUS Union (USR-PLUS) and the Democratic Union of Hungarians in Romania (UDMR).
Yesterday, in Bucharest, t ... Read more »
Date: |2020-12-24|

By Jerom Bolt
Bucharest will host the European Union's Cyber Center - the first EU structure in Romania, announced Foreign Minister Bogdan Aurescu. The European Center for Industrial, Technological and Research Competence in Cyber Security (ECCC) will be based in Bucharest, and the aim of this institution, which will cooperate with specialized national hubs, will be to centralize the technological and industrial security ecosystem of the Member States, so that the community bloc is better prepared in the face of threats.
Marian Murguleț, coordinating state secretary for information technology at the level of the entire central public administration, specified that the operationalization of the Center is estimated for the summer of next year.
The proposal for a regulation establis ... Read more »
Date: |2020-12-10|

By Constantin Radut
Although the Minister of Economy, Virgil Popescu, makes a big fuss whenever he has to polish the shoes of the President-in-Chief Klaus Werner Iohannis, the economic situation of the companies subordinated to the ministry he leads is pathetic.
It is even one that endangers the economic future of the country.
In vain Virgil Popescu takes us with sugar and tells us that the government he belongs to will not let any viable enterprise disappear from the economy, his words are just propaganda for voters.
The most edifying example is that of the Special Steel Plant (COS) in Targoviste. Many years ago, COS, a national pride, here being manufactured components especially for va ... Read more »
Date: |2020-12-04|

By Constantin Radut
For over 20 years, Romania's economy has become dependent on that of Germany. By 2020, almost 25% of Romania's foreign trade was closely linked to imports and exports to and from Germany. For many years, the governments of Bucharest believed that if Berlin or other local governments in Germany agreed to set up a German subsidiary in Romania, then the industry in our country would flourish. Wrong, totally wrong. Germany's interest was to destroy Romania's industrial structure in order to transform our domestic market as one of its export outlets.
Now, in the year of the Covid-19 pandemic, we realize that Germany has set up companies with German capital in Romania only and only because the labor force ... Read more »
Date: |2020-12-01|

By rbj
The new edition of the survey "The Business Outlook in 2020" conducted by Valoria in partnership with brings an updated perspective on how companies have adjusted the main parameters of the business in the second half of 2020.
„Compared to the results of the edition at the beginning of the year, the new survey report shows a strong contraction of the activity of the companies under the impact of the pandemic. However, respondents say that the second half of the year is not perceived as significantly more unfavorable than the first half, when the COVID-19 pandemic broke out. We can say that the top executives have managed, for the most part, to recalibrate the activity of the companies, depending on their industry se ... Read more »

Date: |2020-11-23|

By Jerom Bolt
Industrial production fell by 0.4% in the eurozone and saw zero growth in the European Union in September compared to the previous month, the European Statistical Office (Eurostat) said on Thursday in a press release. In August, industrial production rose by 0.6% in the euro area and by 0.9% in the European Union.
The highest monthly increases in industrial production in September, compared to the previous month, were recorded in the Czechia (4.1%), Slovakia (3.4%), Poland (3.1%), Denmark (2.5% ), Hungary and Bulgaria (both with 2.3%), Germany, Greece and Croatia (all with 1.7%), France and Romania (both with 1.5%), the most severe decline being recorded in Italy (minus 5.6%), Ireland (minus 4.7%) and Portugal (minus 3.8%).
In September, compared t ... Read more »
Date: |2020-11-12|

By Constantin Radut
Yesterday and today, a visit of the head of government from Bucharest took place in Paris, accompanied by several ministers, including the one of the economy and the one of the national defense. It is the largest Romanian government delegation that has traveled to France in recent years.
Although, according to the structure of the delegation, important results were expected in the sectors of economic and military cooperation, the visit proved to be particularly poor in practical terms. Only the promising statements of the Romanian PM remain to be materialized.
Prime Minister Ludovic Orban said in Paris on Mon ... Read more »
Date: |2020-10-27|

By Constantin Radut
These days, many financial agencies around the world are raising worrying figures on loans from some countries to foreign markets, to deal with domestic spending caused by the COVID-19 pandemic, but also by poor management of national budgets.
"Investment-grade debt issuers are taking full advantage of attractive funding conditions in global emerging markets," said Rahul Ghosh, a senior vice president at Moody's, quoted by Reuters.
"However, the picture is very different for issuers lower down the credit-quality spectrum, where market access remains challenging," Ghosh said, referring to the disparity as a "two-speed recovery."
The United Arab Emirates, Qatar and Saudi Arabia have issued the most debt so ... Read more »
Date: |2020-10-14|

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The Romanian Business Journal
Constantin Radut
Editor in Chief
031726 Bucharest, Romania
+40 725 511 887