February 22, 2025
A roundup of local and world news
Newsroom, 22.02.2025, 13:55
ELECTIONS The Central Electoral Bureau for the election of the president of Romania in May was selected on Friday. The Bureau is made up of 5 judges with the High Court of Cassation and Justice, the president and vice-presidents of the Permanent Electoral Authority and one representative of each party in Parliament. Parties, political or electoral alliances, ethnic minority organisations and independent candidates will be able to submit their candidacies by March 15, after which the Central Electoral Bureau is to rule on their validity. Thousands of Romanians, supporters of the independent sovereigntist Călin Georgescu, who came out first in the first election round in December, took to the streets again in Bucharest today to demand that the electoral process be resumed from where it was canceled. The billionaire Elon Musk, an advisor to the US president Donald Trump, Friday night posted a critical message on his social network X (the third this week) about the cancellation of the December elections. The US vice-president J.D. Vance had also previously questioned the cancellation of the elections. Romania’s Prime Minister Marcel Ciolacu said Bucharest would try to provide clarifications about the situation through all diplomatic channels.
RATING Fitch has sent a clear signal that Romania must carry on its fiscal consolidation measures and restore budgetary balance, in order to improve its fiscal credibility, said finance minister Tanczos Barna after the international financial rating agency announced on Friday that it is keeping Romania in the investment grade category. In a statement, the agency confirmed Romania’s long-term rating at ‘BBB minus’, with a negative outlook. According to Fitch, the rating relies on the country’s EU membership and capital inflows that contribute to public revenues and macro-stability. The gross domestic product per capita and the governance and human development indicators are also higher than in countries in the same rating category, the agency explains. These strengths are overshadowed, however, by a significant deterioration of public finances and a sharp slowdown in economic growth in 2024. Adding to this is a possible adverse effect of political uncertainty. In December last year, Fitch announced that it had downgraded the outlook assigned to Romania from stable to negative. The same announcement came later from Standard & Poor’s.
ENERGY Electricity and natural gas tariffs could be offset in Romania even after April 1, when the current aid scheme is set to expire. The energy ministry has posted for public review a draft act extending the capping period, under which the scheme for electricity is extended until July 1, and for natural gas by one year, until April 1, 2026. The capping extension proposal comes as prices on European electricity and gas exchanges have increased significantly, and also as the low temperatures in Romania this winter entailed a significant increase in consumption. As a result, the line minister Sebastian Burduja announced that the government had decided to protect Romanians and support the competitiveness of Romanian companies. After the energy market was deregulated on January 1, 2021, Romania was among the European countries the most severely affected by record-high electricity and natural gas prices. Thanks to the government’s price capping decisions, households and businesses were protected from excessive prices.
CORRUPTION A company and 2 individuals are prosecuted in a case handled by the Romanian National Anticorruption Directorate (DNA), together with investigators from the US Department of Defence, the DNA announced today. The company owned by a Greek national has allegedly bribed a foreign official to get a EUR 9 mln contract to refuel aircraft at the NATO military base in Mihail Kogălniceanu. Two other individuals are suspected of complicity in continuing bribery in connection with an official of a foreign country.
GERMANY Germany holds federal elections on Sunday that are crucial to the country’s future, as the far-right is on the rise and the economy is heading for a third year of recession. The vote comes after the coalition of the Social Democrats, Liberals and Greens led by the Social Democratic Chancellor Olaf Scholz collapsed late last year. According to polls, the Conservatives are expected to win. With the far-right in second place in the polls, however, analysts say that in order to govern, the Conservatives will have to reach a compromise with the Social Democrats or the Greens, overcoming their differences.
FOOTBALL The Romanian football champions FCSB will face the French team Olympique Lyon in the Europa League round of 16, according to Friday’s draw in Nyon, Switzerland. FCSB will play the first leg at home on March 6, with the return leg scheduled on March 13. FCSB qualified for the round of 16 of the Europa League after outplaying the Greek team PAOK Thessaloniki, coached by the Romanian Răzvan Lucescu. The aggregate score was 4-1, with the Romanians defeating the Greeks 2-1 in the first leg, and 2-0 in Bucharest on Thursday evening. (AMP)
