George Banciulea

BNR's Isarescu: International borrowing, proof of responsibility, deficits are worrisome

International borrowing is proof of responsibility, but the country's deficits are worrisome, the governor of the National Bank of Romania (BNR), Mugur Isarescu told a press conference, when asked about the latest loans contracted by the Ministry of Public Finance. "Worrisome, an element of concern or as you might want to call it, not of panic, however, are the country's deficits.

UPDATE Romania's end-2019 budget deficit at 4.6 pct of GDP

Romania closed 2019 with a budget deficit of 4.6 percent of GDP, above the authorities' November estimation, when the second budget adjustment was operated, Finance Minister Florin Citu announced on Tuesday. The only time with a wider budget gap was the crisis year of 2010, when the government ran a deficit of 6.5 percent of GDP. In 2018 the budget deficit was 2.88 percent of GDP.

FP Portfolio Manager Meyer: One-off chance for Romania to shine this year despite economic slowdown

Romania has a one-off chance to shine this year, despite an economic slowdown compared to the previous years, says Johan Meyer, CEO of Franklin Templeton Investment Management Limited UK Bucharest Branch and Fondul Proprietatea co-Portfolio Manager. "30 years after the fall of the communist regime, Romania seems well anchored to the European values and on a clear path of economic development.

Annual inflation rate, up to 4pct in December, above BNR forecast

The annual inflation rate went up 4 percent in December 2019, from 3.8 percent in November, given that food prices increased by 5.08 percent and non-food prices by 3.31 percent, while the price of services registered an advance of 4.16 percent, according to data released on Tuesday by the National Institute of Statistics (INS). "In December 2019, consumer prices were 4.0 percent higher YoY.

Frames Barometer: Workforce shortage seen as top challenge to business environment in 2020

The workforce crisis, the rise of inflation, the prospects for the national currency's depreciation and the expansion of the financial gridlock are seen as the major challenges to the business environment in 2020, found the 9th "Barometer on the state of the economy" conducted by consulting company Frames and released on Friday.

Assets of optional pension plans exceed 2.43 billion lei, as of Oct. 31, 2019

The optional pension plans had assets worth over 2.43 billion lei, as of October 31, 2019, up 21.7% from the same period of 2018, according to the Financial Supervisory Authority (ASF). Government securities held the highest share in the assets, of 1.373 billion lei, which is 56.4%. Second came stocks, at 600.509 million lei (24.67%).

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