2029 is a viable target to access the euro zone, but the most important is real convergence about which very few people speak, said on Thursday the minister of finances, Adrian Caciu. ‘From my point of view, 2029 is a viable target (to access the euro zone). Beyond the nominal criteria for convergence which clearly we can cover on a medium term, the criterion of debt – we are happy by comparison to other European states which cannot cover it anymore’ Caciu said.At half December 2021, Florin Georgescu, prime-vice governor of the National Bank of Romania (BNR) stated, when launching ‘Capitalism and capitalists without capital in Romania’ that all the targets to access the euro zone were missed, the next deadline being 2029.According to the Report of convergence for 2020 published by the European Commission (EC), access to the euros one is an open process, which relies on certain norms. Among the criteria for convergence there is stability of prices, solidity of the public finances, and stability of foreign exchange and convergence of the interest rates on a long term. There is also under analysis, the compatibility of the national legislation with the norms of the economic and monetary union.The conclusions of the report show that Sweden and Croatia meet the criterion referring to stability of prices, Bulgaria, the Czech Republic, Croatia, Hungary, Poland and Sweden meet the criterion referring to public finances, Bulgaria, the Czech Republic, Croatia, Hungary, Poland and Sweden meet the criterion of the interest rates on a long term.No one of the member states mentioned does meet the criterion regarding the stability of the foreign exchange, as none of them is a member of the exchange rate (ERM II). Thus, Croatia and Sweden meet all the criteria for economic convergence, but for the criterion regarding the exchange rate due to the reason mentioned above.In the case of Romania, the document shows the fact that our country does not meet any of the four economic criteria necessary to adopt the euro, namely : stability of prices, solidity of the public finances, stability of the exchange rate and the convergence of the interest rates on long term.The reports for convergence must be made once every two years, irrespective of the possible stage of accession to the euro zone.
The Board of Directors’ motion was on the Ordinary General Meeting of Shareholders’ agenda of April 29, under which a gross dividend of 0.09 RON/share was approved. The EVERGENT Investments shareholders have approved the Activity program and the Revenue and Expense Budget for the year 2024, stipulating an investment program amounting to RON 155.8 mln. […]
Premier Energy PLC, one of the fastest-growing energy companies in Romania and the SEE region, will carry out an initial public offering (IPO) on the Bucharest Stock Exchange (BVB) between May 8 and May 15, 2024. Romania's Financial Supervisory Authority (ASF) approved the IPO prospectus on Tuesday, May 7. The company is looking to sell […]
The European Bank for Reconstruction and Development (EBRD) is lending more than EUR 46 million as part of a EUR 93 million financing package to build and operate Urleasca Wind Farm, a 102 MW onshore wind farm in Romania, the institution announced. Urleasca Wind Farm is expected to generate 277 GWh a year of renewable energy […]
Bucharest and Ilfov County together form the region in Romania with the highest motorization rate, with an average of 640 cars per 1,000 inhabitants, a level close to most regions in France, Germany, Austria, and Italy, according to Eurostat data for 2022 cited by Ziarul Financiar. In the central, western, and northwestern regions of the […]
Nicolae Ciucă, the president of the National Liberal Party and head of the Romanian Senate, is increasingly looking like the party’s pick for the presidency. Ciucă, a former general in the Romanian army and an ally of current president Klaus Iohannis, also from PNL, is featured on dozens of billboards across the country. In parallel, a social media […]
The 28th edition of the European Film Festival opens in Bucharest on Europe’s Day, May 9. The event, which takes place in several cities in the country, will end this year’s run in Chișinău on June 8, the weekend of the EU Parliament elections. The program covers 40 feature films, 34 of them national premieres, […]
