December 28, 2017

Romanias consolidated general budget went up to 1.21% of the GDP.

Newsroom, 28.12.2017, 13:39

GOVERNMENT — The Bucharest Government is today holding their last meeting this year. The Cabinet members are discussing a series of initiatives aimed at supporting the special fiscal status for people working in such fields as research and development, so as their net salaries should not go down as of January 1st, 2018, when the task of paying the social security contributions is transferred from employer to employee. The financial support is to be granted for a three-year period. Over 8,700 companies are expected to benefit by it.

BUDGET — Romania’s consolidated general budget went up to 1.21% of the GDP after the first 11 months of the year. Revenues from taxes and duties were smaller then expenditure with the staff and social assistance. According to the Finance Ministry, by year-end, the budget deficit will be maintained within the limit of 3% of the GDP.

ROMANIAN ACADEMY — The head of the Romanian Academy, Ionel-Valentin Vlad, who died on Sunday aged 74 was buried today in Bucharest. A synod of priests led by the Roman-Catholic Archbishop of Bucharest, Ioan Robu, officiated the funeral service. A commemoration event was also held on Wednesday, at the initiative of the Academy’s leadership and was attended by the Patriarch Daniel of the Romanian Orthodox Church. According to a communiqué of the Romanian Academy, Ionel-Valentin Vlad was a pioneer in avant-garde domains of physics, and his death is a great loss for Romania. The Royal House of Romania has also deplored the death of Ionel-Valentin Vlad who was highly appreciated for his civic spirit, professionalism and academic rigor. The death of the president of the Romanian Academy is a big loss for the Romanian people said the Federation of Jewish Communities in Romania.

BANK HOLIDAY — The Good Friday, also known as Holy Friday, the day when Christians commemorate the crucifixion of Jesus Christ and his death at the Calvary, may become a public holiday in Romania. This proposal was submitted to the Senate at the initiative of 42 MPs from all political parties. Among the reasons in favor of this initiative is the fact that Good Friday is a bank holiday in 16 out of the 28 EU states. Romania only has 14 days as public holidays while other countries have as many as 16 or 17.

HANDBALL — Romania’s national handball team defeated Switzerland 32-28, in a friendly match held on Wednesday evening away from home. The Romanians are taking part, on December 29th and 30th, in the Yellow Cup tournament, to be held in Winterthur, Switzerland. They will be up against Russia on Friday and, depending on the results on the first day, against Switzerland or Serbia. After returning to the country, the Romanian team will resume training ahead of the Carpati Trophy, which starts on January 5th and is also attended by Portugal, Tunisia and Bahrain. Coached by the Spanish Xavi Pascual, the Romanian team gets ready for the first round of the 2019 World Championship preliminaries, held between January 11 and 13 in Bolzano, Italy.

(Translated by Elena Enache)