BCR experts estimate 9.4-pct unemployment rate by end 2010Publish date: Astazi, 18-08-2010
The unemployment rate in Romania will reach 9.4 percent at the end of 2010, given that by the beginning of the next year, around 60,000 jobs in local and central public administration will be slashed, the equivalent of nearly 4.4 percent of the total public sector jobs, reads the quarterly report on Romania's macroeconomic situation, published by the Romanian Commercial Bank (BCR).
According to the report, the private sector was the only one to witness the recession's effects, but, in BCR chief economist Lucian Anghel's opinion, it absorbed in the last couple of months about 11,000 employees who were previously laid off from public institutions.
The official data reveal that the unemployment rate registered a maximum of 8.4 percent at the end of March, and then declined over the next three months down to 7.4 percent in June. BCR Research team presented the Romania Macroeconomic Report - Moment of Truth, during a news conference. BCR, a member of the Erste Group, is a universal bank both for the retail and the corporate clients, and is the most important banking institution of Romania managing assets worth over 16.4 billion euros.
- 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