October 22, 2015 UPDATE
For a roundup of domestic and international events, click here.
Newsroom, 22.10.2015, 12:15
IMF – The International Monetary Fund has estimated that Romanias budget deficit will reach 3% of the GDP in 2016 and will most likely exceed this level in 2017 as a result of massive tax cuts and planned salary rises, while the recommended budget deficit for next year is 1.5%. According to a press release from the head of the Funds mission to Romania Andrea Schaechter, Romanias macroeconomic indicators have improved considerably in recent years, but consolidating this progress is crucial at a time of growing global risks, in particular in the emerging economies. Under the circumstances, Romania must maintain fiscal discipline to consolidate its public finance and renew its commitment to structural reforms, especially with respect to state-owned companies. The representatives of the International Monetary Fund have also said that unless Romania modernises its transport infrastructure, the advantages of its strong economic activity will be short-lived and its progress slow. A Fund delegation was on a one-week trip to Romania to discuss with the authorities the situation of the countrys economy, future developments and the state budget for 2016.
EUROBONDS – Romania on Wednesday sold 2 billion euros of eurobonds offering 10- and 20-year maturities, writes the American publication Bloomberg. Romania thus followed Poland and Lithuania, two countries that have already accessed the international bond market. This is for the fist time that Romania has issued eurobonds with a 20-year maturity. The commentators cited by Bloomberg say investors had been waiting for a long time for Romania to return to the markets and that they were interested in longer maturities.
MINER RAIDS – The General Prosecutors Office in Bucharest continued hearings in an investigation looking into the so-called “miner raids between 13 and 15 of June 1990 that put an end to wide-scale demonstrations against the left-wing government that came to power after the collapse of the communist regime. On Wednesday, prosecutors charged the former president Ion Iliescu and two of his aides at the time, the director of the Romanian Intelligence Service Virgil Magureanu and the defence minister Victor Stanculescu, with crimes against humanity. Prosecutors have also called on the president to green-light proceedings to indict former Prime Minister Petre Roman and his deputy Gelu Voican. Following violent incidents in Bucharest that the army had already managed to contain, Ion Iliescu appealed to the population to save democratic institutions from a far-right coup. Groups of miners from Jiu Valley, a large mining area in the centre, descended on Bucharest, where they stormed the University building and the headquarters of the opposition parties and independent newspapers. Four people are known officially to have been killed in the incidents, while hundreds of people were wounded and over 1,000 were subject to abusive arrests.
CRISIS – Socialist and Communist MPs in the Republic of Moldova on Thursday filed a no-confidence motion against Valeriu Strelets Cabinet. To pass, the motion needs the votes of 51 MPs of the 101 members of the Moldovan Parliament. The Republic of Moldova is facing political tensions, given that the pro-European ruling coalition risks falling part after the arrest of its leader Vlad Filat, in a corruption case.
TENNIS – The Romanian pair made up Irina Begu and Monica Niculescu will be playing the doubles final of the WTA tournament in Moscow, totalling 700 thousand dollars in prize money. On Thursday the two outperformed Andreja Kepac of Slovenia and Katerina Siniakova of the Czech Republic. Irina Begu has four doubles wins and another four finals played, of which two in 2015. Monica Niculescu has won four titles and played 11 finals, of which two in 2015.
