Romania risks disengagements of over 500 million lei (112 million euro) for projects in the energy sector financed with European funds, in the financial exercise 2007 – 2013 due to the fact that they will not be finalised until 31 December 2015 according to the minister of energy Victor Grigorescu. ‘I regret the fact that we are among the institutions which, unfortunately, risk disengagement of European funds, we speak about funds worth over 500 million lei. The reason for which we risk – I said we risk – as we make all efforts to limit this risk- but the risk comes from the fact that the projects financed risk not being put to value until 31 December 2015. I am convinced that a better evaluation of the situation would have allowed the identification of better measures and the growth of the level of absorption with certainty. 500 million lei is a good sum’ stated Grigorescu on Friday in a press conference. He said that he discussed on this issue with the minister of European funds. ‘Unfortunately, the money is destined, mainly, to the local public authorities. It makes even more worrying and sadder’ Grigorescu said. Premier Dacian Ciolos stated in the parliament, when he swore in, that Romania has many delays to draw the European funds from the previous period, the financial exercise 2007 – 2013 with a rest of 30% of the total of funds, and the present government will not make wonders to avoid ‘ a total disengagement’.
Romanian tennis player Jaqueline Cristian, ranked 82nd in the world, advanced to the third round of the Australian Open on Thursday, January 16, after defeating Italy's Lucia Bronzetti in two sets 7-5, 7-5. The match lasted two hours and four minutes, according to News.ro. This marks the...
The corporate branch in Romania of PKO Bank Polski, the leader of the Polish banking system, will begin its operational activity on the local market in 2025, according to Ziarul Financiar. The Romanian daily announced in October 2023 that PKO Bank, the largest bank in Poland, with assets equivalent to 70%...
The Romanian Ministry of Energy announced that it notified the Foreign Direct Investment Review Commission (CEISD) regarding the transaction through which Hungary's state-owned energy group MVM intends to acquire the gas and electricity supply division of E.ON Energie Romania,...
At the monetary policy meeting of January 15, Romania’s central bank (BNR) maintained the monetary policy interest rate at 6.5%, which was in line with expectations. Amid persistent inflation risks and with no budget plan drafted by the government, the monetary authority thus prioritized a cautious stance over the need to encourage economic growth. “We […]
Ford Transit & Tourneo Courier, Ford Puma, and the new Dacia Duster led Romanian car production to a record volume of over 560,000 cars, according to calculations by Ziarul Financiar based on information from the car market and Ford Otosan's stock exchange report. The volume thus brings a 10% increase...
Romania's industrial output in the 12 months to November 2024 contracted by 2% y/y, according to data published by the statistics office INS. The contraction was slightly softer (-1.6% y/y) in the core manufacturing sector, with the segment of utilities (-4.4% y/y) dragging down the overall performance. Most likely, the industrial output in Romania ended […]
