Recovery and Resilience Facility | European Commission
By Constantin Radut
Attempts have often been made to accredit the idea that the current governing coalition in Bucharest, made up of four parties, will bring a new impetus to the country's pro-European policy and determine new standards of professional conduct and economic and social policies.
It was all a scam by the electorate, directed by President Klaus Johannis, an ethnic German from Romania who has nothing in his heart for the country where he grew up and became president.
There are a few months left and two years of chaotic and incompetent government are being fulfilled, which determined Romania's excessive indebtedness and population impoverishment. In September 2019, when the cur ... Read more »
Date: |2021-06-11|

By Constantin Radut
Being in their warm place in the IMF building, a "mission" of the international institution pretended to analyze the state of the Romanian economy, a routine activity according to the obligations resulting from Article IV of the treaty between Romania and the IMF. The IMF mission was a fictitious one, carried out through WhatsApp.
As a result, the experts of the International Monetary Fund (no one tells us who they are and who the team is led by) estimate, for 2021, a strong economic recovery in Romania, with a real GDP advance of 7 percent. And to be covered, the statement from the MFI shows that the main risk of not realizing this forecast is that of unexpected changes. To be satisfied and PM Vasile Forin Citu.
"A strong recovery of real GDP of 7 percent ... Read more »
Date: |2021-05-28|

By Constantin Radut
Today, Eurostat released significant figures for the EU's economic situation. This is a little encouraging, especially since most developed economies have not recovered after the 2020 pandemic year. The most worrying situation is in Germany, a country that sees a decrease in GDP by 1.7% compared to the previous quarter and by 3, 0% compared to the same quarter of 2020. The German economy did not start the engines at the expected level due to the small volume of exports to China, the US and other European countries. The situation in other countries, such as Spain, the Netherlands, Portugal and Denmark, is just as gloomy. A beautiful figure makes Macron's economy, France managing a GDP growth of 0.4% and 1.5%, respectively. ... Read more »
Date: |2021-05-18|

By rbj
Romania's economy will grow by 5.1% in 2021 and by 4.9% in 2022, after an advance of 3.8% this year and 4% next year was estimated in February, according to the economic forecasts from the spring of 2021, published on Wednesday by the European Commission (EC).
The unemployment rate is estimated at 5.2% in 2021 and 4.8% in 2022, from a level of 5% last year.
Inflation in Romania will be, according to EC forecasts, at 2.9% in 2021 and 2.7% in 2022, compared to 2.3% in 2020.
Also, the budget deficit will be reduced to 8% of GDP this year and 7.1% of GDP next year, from a level of 9.2% of GDP last year, while the current account deficit will be will stand at 4.9% of GDP in 2021 and 4.6% of GDP in 2022, from 5% of GDP in 2020.
The European Commission expect ... Read more »
Date: |2021-05-12|

By Edwig Ban
The rating agency Standard & Poor's reconfirmed on Friday at "BBB minus / A-3" Romania's rating for long-term and short-term debt in foreign currency and local currency and improved the outlook from "negative" to "stable".
This is the first positive change in the perspective of Romania's rating operated by this agency since November 2013.
"We have improved our outlook to" stable "because we believe that short-term fiscal risks to Romania have decreased. The incumbent government after the December parliamentary elections postponed the pension increase adopted by the previous legislature. It has also started a consolidation course that we believe will ensure that the government deficit and external debt will remain moderate until 2024 ", it is show ... Read more »
Date: |2021-04-17|

By Emea Riga
The International Monetary Fund (IMF) has significantly improved its estimates on the evolution of the Romanian economy: it will register a 6% increase this year, according to the latest report "World Economic Outlook", published on Tuesday by the international financial institution .
If in October last year, the IMF estimated that Romania will register an increase of 4.6% in 2021, according to the new forecasts published on Tuesday, Romania's Gross Domestic Product will increase by 6% this year. The IMF also improved its estimates for 2022, to an advance of 4.8%, compared to an increase of 3.9% as forecast in October last year. According to these estimates, the performances of the Romanian economy ... Read more »
Date: |2021-04-06|

By rbj
The Board of Directors of the S.N.G.N. Romgaz SA approved on March 30, 2021 the binding offer to buy the shares issued by ExxonMobil Exploration and Production Romania Limited. ExxonMobil owns 50% of the acquired rights and obligations assumed by the Concession Agreement for oil exploration, development and exploitation in the XIX Neptun Deep Water Zone perimeter, according to a press release sent to the Bucharest Stock Exchange.
Today was the final date by which interested buyers were invited to submit binding bids.
Romgaz states: “The rest of the participation of 50% of the acquired rights and obligations assumed by the Concession Agreement for oil exploration, development and exploitation in the perimeter XIX Neptun Deep Water Zone is owned by OMV Pet ... Read more »
Date: |2021-03-31|

By Constantin Radut
In the context of the state of deep suffering determined, all over the world by SarsCov-2, we also have a news that gives us a dose of optimism. The decline of Romania's population is not as great a disaster as some or others inside and outside the country present it. Romania has chances to recover from a demographic point of view because it has healthy women, able to give birth to many children and to restore the future of the country.
According to a Eurostat report for 2019, published today, entitled "EU births: decline continues, but not from foreign-born women", the fertility rate of women in Romania was the second highest in the EU, after that in France.
The Covid-19 pandem ... Read more »
Date: |2021-03-23|

By rbj
The Romanian Association for Cosmonautics and Aeronautics (ARCA) will launch, in June 2021, the first Romanian satellite, with a rocket designed and built entirely in Romania.
According to the Facebook page of the ambitious project, so far ARCA has launched two stratospheric rockets, four large-scale stratospheric balloons, including a cluster-type balloon and received two government contracts with the Romanian government and a contract with the European Space Agency. He is currently building EcoRocket - a semi-reusable, steam-powered rocket.
The launch team received official ... Read more »
Date: |2021-03-15|

By Jerom Bolt
The EU's statistical office, Eurostat, reports that Romania's economy advanced 4.8% in the fourth quarter of last year compared to the third quarter, the strongest GDP growth recorded by a European Union member state in Q4 compared to the previous quarter.
In contrast, the euro area economy contracted by 0.7% and the EU economy by 0.5% in the fourth quarter of last year compared to the third quarter. The largest decreases were recorded in Ireland (minus 5.1%), Austria (minus 2.7%), Italy (minus 1.9%) and France (minus 1.4%). On the other hand, the highest increases were recorded in Romania (4.8%), Malta (3.8%), Croatia and Greece (both 2.7%). Bulgaria and Hungary also had significant increases.
Over the whole of 2020, the euro area gross domestic product contra ... Read more »
Date: |2021-03-09|

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