US Secretary of State Hillary Clinton on Thursday gave a terrible blow to the double-faced policy promoted by Romania's governing coalition of Social Democrats and Liberals (USL), who are wearing a pro-Western mask before foreign officials and journalists while launching furious attacks on institutions and ignoring any economic reform when at home. Clinton held a tough speech in which she mentioned Romania along former USSR countries and Hungary as countries with democratic difficulties. The speech came a few days after European Commission officials had sent the least wanted message from Brussels, the Commission is unwilling to conclude a new precautionary accord along the IMF in 2013 because Romania has not fulfilled its promises in the current accord. The two pieces of news mean two things: Romania's access to funding will be more expensive, while investors are to avoid Romania.
The Ministry of Development proposed to the government to analyse the opportunity to develop an investment program dedicated to the economic recovery of small towns with a population of under 25,000 in non-metropolitan areas. The financial support for the development of these towns has been so far fragmented, and competition with large cities for funds proved […]
Prime minister Ilie Bolojan said on November 6 that he hopes that the ruling coalition will manage to legislate by the end of this month the rest of the second package of budgetary measures, namely the public administration streamlining law and the law on magistrates' pensions. Unless the law on the public administration is legislated, […]
Japanese group Makita announced that it will reduce production of power tools in China for the US market due to the unpredictability of US tariffs and move this production to factories in Romania and Thailand, according to Nikkei Asia, as reported by Economica.net. The Japanese group reported business of almost EUR 640 million locally...
The Competition Council has outlined a series of concerns related to the transaction through which the Schwarz group, which operates the Kaufland and Lidl store chains in Romania, intends to take over the La Cocoș stores, according to a press release quoted by
Romania’s flag carrier, Tarom, has requested the government to disburse a new tranche of restructuring state aid approved in 2024 to address the current liquidity deficit, Profit.ro reported. The company argued that, because of late payment penalties...
Retail sales volume contracted by 2.3% q/q in Q3, resulting in a 0.3% y/y decline in Romania (the second negative reading since the Covid-19 pandemic), visibly dragged down by the real wages that contracted by 3.7% y/y in July-August (latest data available) after +2.2% y/y in Q2, +4.6% y/y in Q1 and around 9%-10% y/y […]
