Archive » August 2009 » 11 August 2009 The english news from 11 August 2009

  • IMF says economy worse affected than expected

    Cutting the salaries of civil servants, reforming the public pension system, stricter control of the finances of the government and local administrations, closer monitoring of state-owned companies, especially those that are registering losses - these are the most important demands which the International Monetary Fund (IMF) has forwarded to the Romanian government…

  • Oltchim forecasts E82 mln in profit in 2013, while PCC is predicting bankruptcy

    The management of the Oltchim Ramnicu-Valcea (OLT) chemical complex hopes that the restructuring and investment program will bring the company back into the black as of 2010, after record losses of RON 234 million (€63.5 mln) registered in 2008. Finalizing the restructuring program in 2013 should generate a net profit worth €82 mln…

  • Romania's Wage Expenses To Drop 0.5% Annually, To Below 6% Of GDP By 2015

    Romania's budget spending on wages in the public sector will be lowered by an annual 0.5% of GDP starting 2010, to end below 6% of GDP in the next four to five years, the International Monetary Fund said Monday…

  • Nine banks undertake to not take money out of Romania

    The parent banks of nine of the major banks with foreign capital from Romania (Erste Bank Group, Raiffeisen International, Eurobank EFG, National Bank of Greece, Societe Generale, Alpha Bank, Volksbank, Piraeus Bank, UniCredit Group) have signed letters through which they pledge to maintain the general exposure of the groups towards Romania, HotNews informs…

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