ECONOMY Romania will
\nsee its economic growth slowing down because of the high inflation, according
\nto the European Commission’s autumn economic forecast. Romania’s GDP growth has
\nbeen adjusted to 2.2%, as against 4.6% last year, because of an inflation rate
\nabove the EU average, of the low foreign demand and limited financing options. The
\ninflation rate is expected to drop in the next 2 years, restoring the overall economic
\nbalance. In spite of the moderate economic growth at year end, the labour
\nmarket remains stable. However, significant increases in salaries and pensions
\nand the slight increase in governmental spending support a general rise in
\nprivate consumption, although retail and services are on a downward trend and
\nthe industrial output is decreasing. On the other hand, tighter monetary policy
\nand financing conditions have led to a significant slow-down in private sector
\nloans, with a negative impact on investments. Romania’s real GDP growth rate is
\nexpected to reach 3.1% in 2024 and 3.4% in 2025, while the public deficit is
\npredicted to stand at 6.3% of GDP this year, 5.3% in 2024 and 5.1% in 2025, as
\na result of the fiscal consolidation measures to be implemented as of January.<\/p>\n
<\/p>\n
\n
<\/p>\n
PENSIONS The new pensions law drafted by the government will next
\nMonday be discussed in the Chamber of Deputies, which is the decision-making
\nbody for this piece of legislation, having already been passed by the Senate on
\nTuesday. The parliamentary majority formed by the Social Democrats and the
\nLiberals says the law eliminates the inequalities in the system, while the
\nopposition condemns the lack of funding sources to sustain the considerable
\npensions increases planned for next year. The new pensions law favours current
\npensioners and penalises those who are still working, the head of the National
\nTrade Union Bloc Dumitru Costin said on Wednesday, after analysing the document.
\nCostin also warns that the financial impact will be huge, and the extent to
\nwhich it can be covered is unknown.<\/p>\n
<\/p>\n
\n
<\/p>\n
PRESIDENT The
\npresident of Romania Klaus Iohannis Tuesday began his African tour with an
\nofficial visit to Kenya. The tour, which also includes Tanzania, the Republic
\nof Cabo Verde and Senegal, is the first political and diplomatic initiative at
\nthis level in the past 30 years, and aims to re-launch Romania’s relations with
\nthe countries on the African continent. At a joint press conference on Tuesday,
\npresident Iohannis emphasised the need for Romania to have its own medium and
\nlong term strategy for Africa based on concrete collaboration at government
\nlevel, while Kenya’s president William Ruto spoke about the effects of the war
\nin Ukraine for the African continent. Four agreements were signed in the fields
\nof environmental protection and climate change, scientific cooperation, food
\nsafety and diplomatic training. On Wednesday, president Iohannis had a meeting
\nwith Kenya’s secretary for tourism and wildlife, Alfred Nganga Mutua, as part
\nof a visit to the Nairobi National Park.<\/p>\n
<\/p>\n
\n
<\/p>\n
REPATRIATION The
\nforeign ministry in Bucharest said another 17 Romanian nationals and family
\nmembers left the Gaza Strip via the Rafah checkpoint and are on Egyptian territory, waiting to be
\nrepatriated. The foreign ministry noted the evacuation was the result of
\ncomplex efforts from an inter-institutional crisis cell, the Romanian embassy
\nin Cairo and Romania’s Representation in Ramallah. 220 Romanian citizens and
\nfamily members who have been evacuated from Gaza have arrived in Romania.<\/p>\n
<\/p>\n
\n
<\/p>\n
AGEING Romania is one of the top 10 countries in the world in terms
\nof population ageing rate, which is likely to put tremendous pressure on the
\ncountry’s entire economic system, particularly on its healthcare and pension systems.
\nThe statement was made on Wednesday at the opening of a specialised congress in
\nBucharest. Sociological research indicates that 55% of the elderly people in
\nRomania feel lonely, more than 30% of them only interact with 3-4 people every
\nmonth, and 3 in 10 elderly people have no one to rely on in if necessary.<\/p>\n
<\/p>\n
\n
\nMILITARY
\nThe Romanian Army Wednesday tested the operation of the Patriot surface-to-air missile
\nsystem acquired by the Romanian Air Forces in 2020. The test was part of the PATRIOT
\nSPARK 23 tactical exercise held these days at the Capu Midia shooting range in
\nthe south-east of the country. The Patriot system purchased by Romania is a
\nstate-of-the-art one, able to identify, track and neutralise any type of air
\nthreat. Attending the event were the PM Marcel Ciolacu, the Senate Speaker and
\nformer PM Nicolae Ciuc\u0103, and the defence minister Angel T\u00eelv\u0103r. The Romanian
\nAir Forces have so far acquired 3 other Patriot systems, which will be
\noperational by the end of next year. Another 3 systems will be delivered to
\nRomania under a USD 4 bln agreement. (AMP)<\/p>\n","protected":false},"excerpt":{"rendered":"
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