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\nRoman-Catholics and protestant believers are this Sunday celebrating Easter, whereas
\nthe Orthodox and Greek-Catholic believers are celebrating Palm Sunday. Orthodox
\nbelievers on Saturday attended various religious processions dedicated to Jesus
\nChrist’s triumphal entry into Jerusalem, which also marks the beginning of the last
\nweek of Lent, also known as the Passion Week, before Easter, which they
\ncelebrate on April 24th. Saturday was also the first day of Jewish
\nHoliday of Passover, which celebrates the exodus of the Israelites from slavery
\nin Egypt. <\/p>\n
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RATING The trust signal conveyed by the Romanian government to foreign
\ninvestors was also confirmed by the rating agencies Standard & Poor’s and
\nFitch, the Executive in Bucharest announced on Saturday. Growth prospects are
\nunderpinned by the unprecedented volume of national and EU funds, which are to
\nbe pumped into the main areas of the Romanian economy, such as industry,
\nagriculture, energy, environment, digitization and also by the government
\ndevelopment policies, the Executive went on to say. Romania’s Finance Minister Adrian
\nC\u00e2ciu hailed a recent decision by the financial rating agency Standard &
\nPoor’s to reconfirm Romania’s Sovereign credit rating to ‘BBB minus’ with
\nstable outlook. ‘This is another proof that the national policies of funding
\nthe economy were right’ C\u00e2ciu says. According to Standard & Poor’s, Romania’s
\nrating is underpinned by EU membership and international capital flows. At the
\nsame time the risks posed by the war in Ukraine are diminished by the prospects
\nof absorbing a major volume of EU funds as well as by the low energy dependence
\non imports of natural gas and oil from Russia. However, the agency has significantly
\ndropped the country’s growth estimates down to 2.1% and has increased estimates
\nregarding the inflation rate, which in 2022 is expected to go up to 9% as
\ncompared to 6% forecast in December. Another major rating agency Fitch last
\nweek confirmed Romania’s rating at ‘BBB minus’, with negative outlook, the last
\nnotch in the investment-grade category. <\/p>\n
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BNR Romania’s
\nCentral Bank (BNR) expects the country’s inflation rate to increase in the
\nfollowing months against the intitial forecasts. So, Romania’s inflation rate is
\ngoing to exceed the level of 11.2% forecast in June. The phenomenon was caused
\nby the latest price hikes in fuel and processed food against the war in Ukraine
\nand the international sanctions imposed on Russia. In another development,
\nalthough pressure for pay rises might be felt, at least in the sectors facing a
\nshortage of qualified personnel, substantial pay rises are very unlikely to
\nhappen in the near future. We recall the annual inflation rate went up to
\n10.15% in March from 8.5% in February reaching the highest level in the past 18
\nyears. <\/p>\n
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INVICTUS A team made up of 20
\nservicemen of the Romanian army, who got wounded in various operation theatres
\naround the world are for a week participating in the Invictus Games underway
\nthis year in the Hague. They are competing in six sporting events, such as
\narchery, athletics, rowing, powerlifting, cycling, swimming and sitting
\nvolleyball. According to the Defence Ministry in Bucharest, these games are
\ndesigned to promote the respect and empathy for the sacrifice and trauma
\nsuffered by the wounded soldiers whose involvement in these activities is an
\nopportunity for social re-integration and regaining self-confidence. This has
\nbeen the Romanians’ third participation in the Invictus Games after those in
\nToronto, in 2017 and Sydney, a year later. The opening ceremonies in the Hague
\nhave also been attended by Romania’s Defence Minister Vasile Dincu. <\/p>\n
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TENNIS Romanian tennis player Irina Bara on Friday qualified for the
\nsemifinals of the ITF tournament in Palm Harbor, Florida after a 6-3, 6-4 win
\nagainst Grace Min of the USA. Bara has also qualified for the doubles finals
\ntogether with Italian Lucrezia Stefanini after a 6-3, 6-1 win against Kayla Day
\nand Ellie Douglas of the USA. <\/p>\n
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(bill)<\/p>\n
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