President Traian Basescu thinks that Romania’s economic revival is strictly linked to the evolution of the largest economies of the world and will return to economic growth at six months after the revival of economies like USA, Germany and France.   "Romania does not aim to overcome crisis through its own efforts, as it could not do that. (…) Romania is dependent on the economic revival of big economices such as USA,... [...]

The Romanian Economy Ministry announced that it invested 4.3 billion lei (EUR1=RON4.2046) to ensure the fuel stocks for the electricity and heating power producers during the winter period.   "All the plants that ensure a good functioning of the energy system have the necessary fuel stocks, and SNLO (state-owned mining company - e.n.) has additional large brown coal reserves," the ministry said in a statement.   Between... [...]

The memorandum regarding the upgrade of 10,000 kilometers of county roads proposed by the leaders of the ruling coalition was adopted on Wednesday by The Romanian Government, according to Development Minister Vasile Blaga.   The program will start in 2010 and will receive an estimated amount of EUR2 billion, meaning about EUR200,000 per kilometer of road, Blaga said. He also highlighted that Finance Minister, Gheorghe Pogea, is... [...]

Romanian prime-minister Emil Boc is threatening with the reshuffle of PSD members, while PSD party president, Mircea Geoana, is recommending that the prime-minister monitors the PD-L ministers responsible with the economics politics. While this, and a controversial censorship motion that is being settled for voting, the IMF council will subject to approval the first evaluation report of the agreement made with Romania. The IMF also launched... [...]

The Romanian government discussed yesterday, in its first reading, the state budget cuts and the social insurance budget, in order to adjust the national deficit from 4.6% to 7.3% of the Gross Domestic Product (GDP). “The budget cut will make adjustments in all the ministries, in an even matter, because my interest is to ensure the functioning of the state and money for investments. The staff budget cut is also taken into account, by... [...]

The International Monetary Fund (IMF) has granted the allocation of Special Drawing Rights (XDR) in total value of 316 billion dollars, of which Romania will receive 1.14 billion. The IMF initiated a liquidity supplementation program for all member states. This is done by increasing their money reserves, as a follow-up of the commitment the IMF made during the G20 summit in April. Through this measure, approved on the 7th of August, the... [...]

The European Commission asked member states to continue “in depth, independent and impartial investigations to establish the truth, whatever the truth may be” regarding allegations that some EU countries housed CIA secret prisons. According to C.I.A. officials, cited by New York Times, “one jail was a renovated building on a busy street in Bucharest, Romania”. “We are aware of the claims but they are claims. The... [...]

The evolution of the recession was under analysts expectations, who estimated a drop of up to 10% for the April-June period of 2009. This is the fourth largest economical decline in the EU, after the Baltic area. Compared to the January-March interval, the decline was only 1.2%. Romania’s economy suffered a 8.8% contraction in the second trimester of this year, in contrast to the same period last year, and by 7.6% in the first... [...]

The Romanian Prime-minister Emil Boc announced a 2% increment of the pension point and free of tax reinvested profit, starting October 1st. It has also announced it will drop the minimum tax, at least partially, starting January 1st. By the end of the year, the Government has to reduce budget spending by 0.8% of the Gross Domestic Product (GDP), so that the national deficit does not exceed 7.3% of the GDP. “If we think there are only... [...]

The Nabucco natural gas duct will infuse money in Romania in the guise of tax profits and dividends, will ensure 1.500 jobs, will actuate the Romanian industry and lower the dependency of Russian gas imports after 2014-2015. The government representatives  in Romania, Turkey, Bulgaria, Hungary and Austria signed yesterday in Ankara the intergovernmental agreement to build the pipeline, which will supply Europe with natural gas from the... [...]

Germany and Italy have officially stated that they have entered in economic crisis.  The shock wave has touched also the Romanian economy, through the collapse in demand on the main two export markets, and also on other European markets, where our country still had profitable businesses.The group of the European Union member states that meet the criteria of an economy in recession, respective two consecutive quarters of decrease in the... [...]

According to the current legal stipulations, the voters will be able to attend to the general elections only to the polling stations in which their domicile is according to the ID. In conclusion, the students, the ones without sojourn documents in other countries or the ones that work in other cities without having mutation, won’t be able to vote on November 30. Over two million Romanians find themselves in this situation. Although the... [...]

The leaders of the parties from the Opposition promise that they’ll do everything they can for that the professors to receive their wages increased with 50%, even retroactive, starting with October 1. There are taken into account two options: adopting of a motion, respective rejecting in the Parliament of the Emergency Ordinance through which the Executive has put off till April 1 the salary rise. The Prime Minister Tariceanu says... [...]

The Romanian Government seems to have taken a short brake in the race for choosing the manager. Adopted in rush, the legislative package which regulates the administration of the Property Fund wasn’t published yet in the Official Gazette. Governmental sources sustain that the specific laws were so much contested that the government officials are forced to debate them again. Moreover, according to the rumors, the winner of the selection... [...]

Last month the government has allocated 1,3 billion lei from the budgetary reserve fund for current and capital expenditures, to over 2000 mayoralties. The mayoralties managed by PSD and liberals have received the largest sum of money, PDL accusing the Government that the budgetary allocation was made on political criteria. On the other hand, PSD says that PD acted the same. According to a decision of the Executive from September 24, 1.100... [...]