Archive » July 2009 » 24 July 2009 The english news from 24 July 2009
Cutting Budget Spending Is Not A Solution For Now - Romanian President
Romanian President Traian Basescu on Thursday said he does not encourage reducing budget spending at present, although this would be the easiest solution, economically speaking. "Economically speaking, the easiest solution would be to cut down budgetspending, but I wouldn't go for it right now," Basescu said.…
Romania's stock market rallied on closing, underpinned by the rise of the banking sector
Indexes of the Bucharest Stock Exchange (BSE) ended Thursday's session with hikes of up to 2 percent for the most liquid stocks, in the context of powerful climbs recorded on the banking sector after the Finance Ministry borrowed one billion euros from a consortium of lenders.…
Horvath & Partners: Low salaries do not compensate for the skills shortage
The low salaries in Romania are not necessarily an advantage, considering that this cannot compensate the skills shortage of employees, according to a study by the Horvath & Partners management consultancy company, to which managers of the Austrian enterprises operating in Romania participated in…
FinMin borrowed EUR 5 bln to finance budget deficit
The Finance Ministry borrowed more the EUR 5 billion this year, pressed by the void in the social security budget, the payment of salaries in the public system and the arrears to companies in value added tax (VAT) reimbursement. These funds are close to the equivalent of the budget deficit scheduled for 2009, of 4.6 percent of a gross domestic product (GDP) estimated at EUR 123.53 billion.…
Boc: Issues raised by banks about First Home programme sorted
The Executive has set the legal framework to allow all those developers who have built based on mortgage loans to participate in the 'First Home' programme and reassured that all issues raised by the banks already in the programme had been solved, PM Emil Boc stated during the Cabinet meeting on Wednesday, Agerpres informs.…
Bank deposits up to 158 billion lei
The deposits in lei and foreign currency of the Romanian population and companies continued to grow in June, advancing by 1.7%, compared to May, up to 158.04 billion lei (37.6 billion euros), on the backdrop of maintaining a positive trend for the deposits in lei, BNR announced Thursday.…