May 13, 2024 UPDATE
A roundup of local and international news.
Newsroom, 13.05.2024, 20:00
PROTESTS – The National Trade Union Bloc and the 29 affiliated federations organized, Monday in front of the Government offices, a rally, followed by a protest march for tax reduction. Protesters requested the reduction of labor taxes and fees, which they consider too high compared to salaries, respect for work and for those who work. The head of the National Trade Union Bloc, Horaţiu Raicu, said that about 43% of the gross salary of an employee in Romania goes to the state budget. He also said that Romania currently has one of the highest tax burdens on labor costs in the European Union. Protesters also complained that low wages and high taxation caused Romania to register the third lowest employment rate in 2023, after Italy and Greece. Eurostat data show that only 69% of Romanians aged between 20 and 64 work, which means that almost a third of Romanians do not have a job.
EU – The European Commissioner for Agriculture, Janusz Wojciechowski, is on a two-day visit to Romania. He met with Prime Minister Marcel Ciolacu on Monday, among the topics discussed being the future of the Common Agricultural Policy, the situation of farmers in the context of the challenges generated by the war in Ukraine and food security. “In the future Common Agricultural Policy, the Government of Romania supports the continued allocation of substantial financial resources to the European agricultural sector, to protect farmers and ensure the Union’s competitiveness on global markets. It is necessary to simplify the rules and implementation mechanisms, so that the Common Agricultural Policy can adapt more easily to unforeseen geopolitical and climate events”, PM Ciolacu said. He asked that there should be no more differences as regards the level of subsidies granted per hectare to the EU member states. During the meeting, Romania’s balanced approach was appreciated, as it managed to meet both the grain transit needs and the demands of the farmers, in the context of the effects produced by the war in Ukraine, according to a press release. The Minister of Agriculture and Rural Development, Florin Barbu, also participated in the meeting. On Tuesday, the European commissioner will visit the port of Constanţa (south-east) to assess the situation of the transport of grain and other agricultural products from Ukraine. Janusz Wojciechowski will end his trip to Romania by visiting a series of projects financed by the EU.
BANKING- The Board of Directors of the National Bank of Romania (BNR) decided to maintain the monetary policy interest rate at the level of 7% per year. This has been unchanged since January last year, when the BNR increased it from 6.75%. The levels of the minimum compulsory reserve rates for the liabilities in domestic and foreign currency will also remain unchanged. On Monday, the BNR Board also analyzed and approved the Inflation report, the May 2024 edition. The updated forecast indicates the prospect of inflation continuing to decrease over the next eight quarters, but at a much slower rate compared to 2023. Thus, the annual inflation rate would slightly fall within the range targeted by BNR (1.5% – 3.5%) only in March 2026 and not in December 2025, as previously forecast by the Central Bank.
TRAFFICKING – Romania is still on the map of human traffickers, with 500 citizens being identified as victims annually, Romanian PM Marcel Ciolacu said on the occasion of the launch of the National Strategy against human trafficking. The strategy developed for the next 5 years aims to reduce the impact of human trafficking at national level by streamlining the activities carried out by public institutions, civil society structures and the private sector. It also aims to improve the protection and assistance given to victims of human trafficking, increase the effectiveness of the criminal justice system, and standardize data collection processes. According to the State Secretary with the Interior Ministry, Police Quaestor General Bogdan Despescu, the qualification obtained by Romania in the last assessment of the phenomenon of human trafficking confirms that the country is on the right track, but that there are still things to be done. He also said that the new strategy creates the prerequisites for fulfilling the recommendations of the US State Department and the Organization for Security and Cooperation in Europe. By the end of 2028, the authorities want a national system to fight against human trafficking to operate in Romania.
HANDBALL – Two Romanian handball teams, Gloria Bistrița and Dunărea Brăila, have grabbed historic results in the current edition of the EHF European League, where they ranked 2nd and 4th respectively. Gloria Bistrița lost the final on Sunday to Storhamar Handball Elite of Norway, after defeating Dunărea Brăila in the semi-finals on Saturday, 37-26. In the bronze final, Dunărea Brăila lost dramatically to Nantes of France at the end of a nerve-racking game. The two teams were tied 33-33, with the French team securing the win at the penalty shootout, 6-5. (EE)
