October 14, 2024
A roundup of domestic and international news
Newsroom, 14.10.2024, 13:55
Corruption. The case of the former Romanian Minister of Health, the Liberal Nelu Tătaru, accused by the anti-corruption prosecutors of aggravated bribe-taking, reaches the Chamber of Deputies today. The prosecutors requested the lifting of his immunity and all parliamentary groups announced that they would vote in favor of the request. The former minister has already lost his eligible place on the PNL list in the December 1 parliamentary elections and was dismissed from the leadership of the Vaslui branch of the Liberal Party, although he claims he is not guilty. The prosecutors argue that, as a doctor, Nelu Tătaru would have received bribes in money and foodstuffs from several people, patients or relatives.
Feast. Orthodox Christians in Romania celebrate, today, Saint Parascheva, the spiritual protector of Moldavia. The saint, a nun who died aged 27, in the 11th century, became the patroness of the eastern region of the country in 1641, when her relics were brought to Iasi, after being taken to Bulgaria, Serbia and Constantinople. Every year, on the feast of St. Parascheva, impressive crowds of pilgrims come to Iași to worship and pray, the city becoming the largest pilgrimage center in Romania and the fifth in Europe.
Rating. The rating agency Standard & Poor’s reconfirmed the rating related to Romania’s government debt and stable outlook for the long-term and short-term foreign currency debt. The decision is supported by the moderate level of foreign and government debt and Romania’s solid economic growth prospects next year. The agency estimates that Romania’s economy will grow by 1.6% this year, respectively by an average of 3% in the next three years. The evolution is determined by the allocation of important European funds, both from the Community budget and from the Recovery and Resilience Mechanism. More on this after the news.
Forum. The Romania-Ukraine Chamber of Commerce is organizing, on Monday and Tuesday, in partnership with the Ukrainian Embassy in Romania, the ‘Rebuilding Ukraine’ forum. The main topics of discussion include the main challenges of rebuilding Ukraine in the current context, options and challenges related to the financing process or considerations regarding the instruments that will be used to implement the peace formula proposed by President Volodymyr Zelensky. The event is attended by government officials from Ukraine and Romania, the president of the Romania-Ukraine Bilateral Chamber of Commerce and foreign ambassadors accredited in Bucharest.
Forecasts. Economic analysts in Romania anticipate a slight reduction in the inflation rate the next year, standing at an average value of 4.97%. Regarding the exchange rate, experts estimate a slight depreciation of the leu in relation to the European currency, up to a value of 5.10 lei for one euro. The budget deficit forecast for this year remained at the anticipated value of 7.3 percent of the Gross Domestic Product, while the value estimated for next year is 5.9%. Analysts also forecast an economic growth of 1.7% this year and 1.1% next year.
Nobel. The 2024 Nobel Prize season ends today, with the announcement of the one in economic sciences. The Royal Swedish Academy of Sciences in Stockholm will announce who will be the successor of the American Claudia Goldin, awarded in 2023 for her studies on the evolution of women’s place on the labor market and their incomes. The favorites this year are the Japanese Nobuhiro Kiyotaki and the British John H. Moore, for their studies on how financial frictions can affect economic cycles. The name of the American Susan Athey is also mentioned, for her studies on the formation of markets.
