Big businesses with funds from the state budgetPublish date: 22-02-2009
The 2009 state and social security draft budgets, passed at the end of last week by Parliament, after four days of intense debates, leave two problems unsolved: Will taxes collected provide the necessary funds for projects which have been approved on paper and will public institutions be able to shorten proceedings so that the money can make it into the company market as soon as possible?
Public sector IT infrastructure projects will be fewer this year, although most companies in the field are waiting for this type of projects and hope that projects frozen in 2008 are unblocked this year, according to the General Manager of Oracle Romania, Sorin Mindrutescu.
The IT market is not set to increase as much as in previous years, due to the international financial crisis. However, Mindrutescu, who runs the local branch of one of the top business software producers worldwide, told Business Standard that he believes that "budget cuts will be made on this segment because social pressure exists, on the pension area, for instance." "The government announced plans to support public investment. This will also stimulate the furniture market. If these investments will have an impact on the Real estate segment, this will be good for our industry, because they are directly connected," Egger's Radauti wood industry factory Sales Manager, Mihai Sandru, told Business Standard.
- Insurance market stagnated in 2013 while GDP chare dropped to 1.3%
- The Romanian Leasing Market as of December 31, 2013
- Millennium Bank reports best results since its launch, helped by stronger banking income and cost cuts
- BCR cheapens First Home loans and lowers interest loans for loans in lei
- Millennium Bank's new Salary account clients receive up to 600 lei bonus and their utility bills' payment
- GarantiBank and Seamless introduce SEQR in Romania: the newest mobile payment solution
- Bancpost telecom services, now provided exclusively by Romtelecom and COSMOTE Romania
- Millennium Bank cards offer discounts in Domo stores
- BCR Supervisory Board reshuffles Management Board
- NBR decide to lower the monetary policy rate to 4.25 percent per annum
- Common appointments in Romtelecom and COSMOTE Romania
- Up to 5.5% annual interest rate for Millennium Bank's promotional three-month lei deposit
- Eurozone in recovery mode but gap between North and South still widening
- UniCredit Tiriac Bank and RBS Romania announce the successful completion of the retail clients' migration
- Millennium Bank grants First House loans in lei