Oana Gavrila

Romanian President Traian Basescu said Tuesday during a meeting with representatives of Romanian Chambers of Commerce that it is unacceptable for public sector employees to demand higher wages when the economic crisis sparks unemployment.

Shareholders of Romania’s Central Depository decided Monday to cut by 28.5% the maximum ceiling of the tax for treasuries from 70 lei (EUR1=RON4.2348) to RON50 per transaction, also removing the minimum level of the fee for the transfer of shares, bonds or rights.

Dutch group Aegon invested EUR20 million in its Romanian operations and will continue to invest depending on the evolution of the local insurance and private pension markets and the stability of the country’s legislation, said Tuesday Gabor Kepecs, the group’s general manager for CEE.

The agreement between Romania and the International Monetary Fund will aid the country’s economic stabilization, but can also be a danger, especially for the leu exchange rate, if the local policies do not respect IMF’s requirements, said Lucian Croitoru, an adviser of the central bank governor.

The Romanian National Authority Regulating and Monitoring Public Procurement (ANRMAP) will notify the Government’s Control Body regarding the purchase by state owned hydro power company Hidroelectrica of vehicles worth RON3.78 million (over EUR1 million) throughout 2008.

Almost 384,000 Romanian applied for payments by hectare in March, accounting for 34% of the estimated number of farmers who will request subsidies as part of the campaign between March 2 and May 15, according to the Agency for Payments and Intervention in Agriculture (APIA).