December 11, 2015 UPDATE
Russia took over the BSEC presidency from Romania. / Romania's population dropped in 2014 below the 20-million threshold.
Newsroom, 11.12.2015, 12:15
Romania, that held the presidency of the Black Sea Economic Cooperation Organisation for the past six months presented an activity report at a meeting on Fiday in Bucharest. The main goals of the Romanian mandate were to capitalize on the potential of economic cooperation and make the best out of the organisation’s cooperation instruments, said the cheif of Romanian dipomacy Lazar Comanescu. Special importance was paid to strengthening ties between the Black Sea Economic Cooperation Organisation and the European Union. The Russian Federation has taken over the Organisation’s presidency from Romania.
The annual inflation rate in Romania remained negative in November, although it rose from minus 1.6% in October to minus 1.1%, according to data released by the National Statistics Institute on Friday. Last month, the National Bank of Romania lowered by 0.4% its annual inflation forecast, to 0.7% negative, and for next year the inflation forecast was revised up to 1.1%. The central bank governor, Mugur Isărescu, mentioned that the negative inflation rate was prompted by the lowering of the VAT for foodstuffs to 9% this summer.
The expert committees in the Romanian Parliament discussed on Friday the draft budget for 2016. Talks will continue during the weekend, and the final vote in the Parliament plenum is scheduled for Wednesday. The Social Democratic Party, in power, voiced satisfaction with the bill, which they say concurs with the previous government’s views on fiscal relaxation and economic growth. In turn, the Liberals in opposition say the overall budget structure is reasonable, and slight amendments are possible during the debates in the Parliament committees, although no major changes are expected.
The population of Romania dropped in 2014 below the 20-million threshold, a level similar to the one reported in 1966. According to the National Statistics Institute, until 2013 the number of people fell particularly as a result of labour migration, whereas last year the main cause was the wide gap between the birth and death rates. If this trend continues, in 30-40 years the population of Romania will go down to around 14 million.
Romania must fully implement the Directive on Deposit Guarantee Schemes, under which bank clients will benefit from quicker disbursements and a better safety mechanism. The deadline for transposing these provisions in the national legislation was July, and the European Commission has officially requested Romania to conform. Ten EU member countries are yet to introduce the European Directive in their national legislation, and unless they take appropriate measures within two months, the Commission may decide to notify the EU Court of Justice.
The Romanian Naval Forces frigate “Regina Maria” is taking part, alongside vessels from the US, Turkey and Ukraine, in a Black Sea exercise scheduled to conclude on December 16. The exercise is part of the NATO measures designed to enhance confidence among the allies, reads a news release issued by the Naval Forces Command. “Regina Maria,” with a 220-strong crew, the American destroyer USS Ross, a Turkish frigate and a Ukrainian auxiliary ship will conduct exercises to prepare response to multiple air, naval and submarine threats, to impose sea embargoes and monitor naval transportation. The exercise takes place at a time when the security situation at the Black Sea requires enhanced interoperability between the Romanian Naval Forces and its partners.
(Translated by Elena Enache)
