November 17, 2016 UPDATE
In order to join the Eurozone, Romania might need a yearly economic growth of 5% by 2024.
Newsroom, 17.11.2016, 12:15
INCOME Incomes in Romania have seen a 13% rise in the past 12 months, while consumption has increased by 10% against the latest cuts in taxes and prices, shows a balance sheet presented by the country’s technocratic Prime Minister Dacian Ciolos after one year in power. By and large, the economy’s growth pace has increased from 3.8% in 2015 to over 4% in 2016. Pundits have pointed out to the fact that pay rises have caused an unprecedented increase in demand for goods and services, which, in turn, has triggered an almost 7% rise in imports. Because exports went on to a much slower pace of only 4.3%, the trade deficit soared and that might lead to a generalized imbalance in macroeconomic indicators.
SEARCHES Prosecutors with the Bucharest’s Sector One Court announced on Thursday that the hearing of the 11 current and former members of the managing board of the Romanian Radio Broadcasting Corporation (SRR) ended, but that investigations in the case continue. The managing board members are being investigated for abuse of office and conflict of interests. Prosecutors say that between July 2011 and January 2014 they alledgedly took some decisions aimed at bringing them illegal benefits. The damage has been estimated at 90 thousand euros. Searches had been carried out earlier on Thursday at the head offices of the Romanian Radio Broadcasting Corporation, with prosecutors taking up files from several offices.
DEBATE – Romanian President Klaus Iohannis said on Thursday in the city of Cluj-Napoca, that the EU is in a complicated situation and that his main concern is to find the best solutions for the country. Iohannis attended a debate dubbed ”The European Union between dismantling and reform. Romania’s contribution to the consolidation of the European construction”, held at the Babes-Bolyai University in the city. The debate was occasioned by the International Students’ Day, marked on November 17. The date commemorates the anniversary of the 1939 Nazi storming of the University of Prague after demonstrations against the killing of Jan Opletal and the occupation of Czechoslovakia, the execution of nine student leaders, over 1200 students sent to concentration camps, and the closing of all Czech universities and colleges.
EURO In order to join the Eurozone, Romania might need a yearly economic growth of 5% by 2024 — shows a survey carried out by the European Institute. With such a sustained growth, Romania might reach 75 percentages of the EU average in terms of the GDP per capita. According to the survey, the development gap between the states using euros and the others does not recommend it for accession yet. Because Romania’s economic structure is very different from those in the Eurozone, the country would have more to lose if it gave up its independent monetary policy, the report says. We recall the initial term set by the authorities in Bucharest for adopting the single currency was 2015.
VISIT Romanian Foreign Minister Lazar Comanescu on Thursday, on the second day of his official visit to Jerusalem, had a meeting with the country’s prime minister and foreign minister Benjamin Netanyahu. The two officials approached issues such as bilateral cooperation and the evolutions in the Middle East, as well as prospects for the relaunch of the Israeli-Palestinian peace process. Previously, Lazar Comanescu had paid a two-day official visit to Jordan, to meet with Amman officials.
DECEASED The Romanian football world is in mourning as 44 year old former international Daniel Prodan died of a heart attack on Thursday. A five years champion with the Romanian football side Steaua Bucharest, Prodan also played with Atletico Madrid in Spain and with Scottish side Glasgow Rangers. A member of the so-called Golden Generation of the Romanian football, Prodan, who was described by the sport press as an ‘iron fullback’, won 54 caps for the national football side and participated in the World Cup 1994 and the European Championship of 1996.
GAUDEAMUS The Gaudeamus International Book fair currently underway in Bucharest saw on Thursday numerous book launches, including the bilingual (Romanian-English) anthology of Romanian post-war prose “10.000 de semne/10,000 characters”, launched at the Romanian Cultural Institute’s stand. Until Sunday the fair will have been attended by hundreds of publishing houses, and have seen over 850 events. The largest stand allotted to a participant country is that of China, an honorary guest to the present edition. Gaudeamus Book Fair has been staged by Radio Romania, the world’s single radio station to have initiated and carried such a large-scale project in support of written culture.
(Translated by Elena Enache)
