Central Europe chief financial officers have reached a pessimism peak as their confidence about the economic outlook and the wider business environment continues to fall amid the uncertainty caused by the COVID-19 pandemic, according to the latest Deloitte CE CFO Survey, conducted on more than 300 leading finance professionals in six countries - the Czech Republic, Estonia, Latvia, Lithuania, Poland and Romania. Almost three quarters of the respondents (72%) stated they were less optimistic about their companies’ financial prospects than before the new coronavirus outbreak, with Polish leading the top of the pessimistic (79%), followed by Romanians (75%). The study also shows significant shifts in the perceived levels of uncertainty facing respondents’ businesses, considering that an average of 36% respondents felt a high level of external financial and economic uncertainty in the pre- outbreak edition of the survey, compared to almost 70%, in the latest edition.
The minimum wage threatens to develop into a new subject of disagreement among the ruling coalition's members in Romania, as prime minister Ilie Bolojan and, more recently, president Nicusor Dan argue for no revision as of January, while the Social Democrats (PSD) advocate for the enforcement of the EU Directive on the issue already legislated […]
Romanian prime minister Ilie Bolojan publicly invited the Social Democratic Party (PSD) to "join the far-right AUR" if it continues to oppose the government's reform agenda, escalating tensions within the ruling coalition, Republica.ro reported. The statement came in response...
Romania’s president Nicușor Dan said he expects a new draft of the magistrates’ pensions law to be completed within three weeks, expressing confidence that a political agreement will soon be reached,
The contribution to the public health system - CASS charged to recipients of pensions above RON 3,000 (some EUR 600) imposed by the government brought almost RON 9 billion (EUR 1.8 billion, nearly 0.5% of GDP) to next year's budget, according to health minister Alexandru Rogobete, cited by
Lukoil will have "an obligation" to sell its local refinery Petrotel before next month's deadline, Romania's state secretary for energy, Cristian Bușoi, told Politico in the context of the sanctions set by the US against two Russian oil companies. "We would be happy not to have Lukoil anymore," Busoi added. ...
Romanian businessman Dorinel Umbrărescu, with his core business in road construction, and the richest Ukrainian Rinat Ahmetov, owner of the Metinvest group, among others, have reportedly submitted offers to take over the ailing integrated steel mill Liberty Galati, currently part of Sanjeev Gupta's Liberty Steel Group, according to
