Archive » May 2010 » 05 May 2010 The english news from 05 May 2010
Romania's finance minister assures the VAT will not increase
The Finance Minister Sebastian Vladescu said after discussing with the representatives of the International Monetary Fund (IMF) mission in Romania the value added tax (VAT) will not be hiked. He also mentioned the projection on the gross domestic product (GDP) advance for the end of the year still stands at 0.8 percent…
BNR lowers monetary policy rate to 6.25 pct per annum
The Board of the National Bank of Romania (BNR) has decided to lower its monetary policy rate to 6.25 percent per annum from 6.5 percent, starting May 5, 2010. It also decided to secure adequate management of liquidity in the banking system and to maintain the existing levels of minimum reserve requirement ratios on both leu-denominated and foreign currency-denominated liabilities of credit institutions…
11 million euros invested in Romania's biggest industrial mill
The ATON Transilvania group of companies inaugurated the biggest industrial mill in Romania at Carani, Timis Country (western Romania), on an investment worth 11 million euros. "The Carani 5 Mill is currently the most important flour producer in western Romania, with a production capacity of 500 tonnes/24 hours. The 11-million-euro investment was supported under a SAPARD project"…
Over 10,000 April orders for Dacia Duster
Duster, the first Dacia SUV, recorded this April over 10,000 orders on the French market, reaching an average of more than 500 units daily, according to Dacia Group's website. At the same time, over the same month, Dacia Sandero ranked sixth among the best selling models in France, up by 300 percent…
ACPR: IMF estimate of a 5.1% GDP increase cannot be reached if economy drops in 2010
The IMF estimate about an economic growth in 2011 which indicates an advance of 5.1%, the highest in EU, may not be reached if Romania registers this year an economic drop, according to representatives of ACPR( Alliance of Romanian Employers' Confederations)…
More than RON 61 ml for extra Romanian troops deployed to Afghanistan in Q2
Under a Government Resolution published on Monday in the Official Journal of Romania, the Ministry of National Defence (MApN) receives 61.521 million lei (about 14.475 million euros) to cover the costs of the supplementation of Romanian troops in Afghanistan in the second quarter of 2010…
FinMin: All possibilities are taken into consideration
Romanian authorities and the International Monetary Fund (IMF) experts are currently reviewing all possibilities and no decision has been yet made regarding the measures to be applied, according to the Public Finance Minister Sebastian Vladescu…
EC estimation: Romania's economic growth 0.8 pct this year
Romania's economic growth this year will be 0.8 pct of the gross domestic product (GDP), according to the European Commission's spring economic forecasts presented on Wednesday in Brussels. After having registered last year a negative economic growth of -7.1 pct of the GDP…
Employer unions ask Govt not to hike taxes
Employer Confederations Alliance in Romania (ACPR) urged the Government to observe the agreement with the International Monetary Fund and not to hike taxation. The signal lately, namely the speculations on VAT and tax increases is likely to scare Romanian and foreign investors and observers, ACPR says in its release…