Archive » May 2009 » 05 May 2009 The english news from 05 May 2009
Second wave of company liquidations expected in May
Over 3,143 companies decided in April to suspend their activities and a further 635 applied for dissolution in Bucharest alone, with tax advisors and businesspeople blaming the lump-sum tax, enforced on 1 May, and the financial crisis. The number of company registrations in April 2009 (8,582 registrations) was almost half that in the same month in 2008 (13,392 registrations)…
IMF Board OKs EUR12.95B Stand-By Loan To Romania
The Executive Board of the International Monetary Fund approved Monday the two-year stand-by agreement with Romania worth EUR12.95 billion, official sources told Mediafax. According to the quoted sources, the loan's first tranche, worth of EUR5 billion, may be drawn immediately. The funds will enter the central bank's foreign currency reserves…
Romania's economy to shrink 4 pct in 2009, according to EC
Romania's economy will shrink 4 percent in 2009, following the 2010 economic growth to be 0 percent (zero), according to estimates of the European Commission's Spring Forecast 2009-2010. Cutting in the revenues at the disposal of consumers and the restrictions in granting loans will result in the reducing of the internal consumption, while governmental expenditures are going to shrink, reads the estimates of the EC…
Popa: Unilateral adoption of EUR is not an option for Romania
The unilateral adoption of the EUR is not an option for Romania, according to those recently declared by the vice governor of the Central Bank, Cristian Popa, during the symposium "Facts and illusions in the context of the economic crisis", organized by BNR last week, Agerpres informs. "We do not intend to adopt faster the European currency"…