Archive » August 2009 » 26 August 2009 The english news from 26 August 2009
Year of grace for SME bank loans
Small and medium-sized enterprises (SME) could benefit from a grace period of up to 12 months to pay bank loan installments, according to a proposal by the Social Democratic Party (PSD). This proposal is based on an Italian model, PSD's President, Mircea Geoana, said. Practically speaking, small enterprises will continue to pay only the interest on their loans, with the principal being suspended…
The last wave of bankruptcies in 2009
Companies that managed to overcome the first wave of the crisis, but which were taken by surprise by the evolution of the economy, which confirms one of the gloomiest scenarios in terms of the volume of economic activity and the population's income, are now posing questions, such as: Will the bank reschedule my loan? Will my clients pay their invoices?…
Moody's Sees Romanian GDP At -8.9% In '09
Romanian economy is likely to contract by 8.9% this year on falling domestic demand, while the first signs of recovery are not expected until mid next year, rating agency Moody's said Tuesday. The rating agency revised down its forecast on Romanian economic decline to 8.9% this year from a 5.7% contraction predicted in July…
Gov't to freeze salaries in 2010
The monthly average gross salary in the public sector, amounting to RON 2,199 currently, stagnates next year but it is set to further advance by up to 56 per cent, so that it shall amount to RON 3,430 in 2015, based on the data presented yesterday by Finance Minister, Gheorghe Pogea, during the talks between government and unions as to the unitary wage…