finance

EC to Launch Excessive Deficit Procedure on Romania in March, Says Finance Minister

10:10, 11 Feb. 2020
Romania will be placed under excessive deficit procedures in March at the earliest, outgoing finance minister undergo Florin Citu said Monday evening on TV station Realitatea Plus.

Public Finance Employees Stage Protests in Cluj and Iasi

19:51, 26 Feb. 2019
Hundreds of employees of Romania’ Public Finance Administration held protests in Cluj and Iasi on Tuesday over concerns of a bill which would abolish regional finance directorates.

Romanian Govt Rejects Local Tax Hike Propositions

13:43, 28 Dec. 2011
The Romanian Government rejected local authorities’ proposition to raise local taxes by up to 50% next year, Finance Minister Gheorghe Ialomitianu said Tuesday evening.

Romanian Public Servants Won RON530M In Back Pay Through Rulings In 2011

17:40, 23 Mai 2011
Romanian public sector employees won salary rights in the amount of 530 million lei (EUR128 million) through court decisions in the first four months of 2011, which will be paid by the government in installments until 2014, according to a draft emergency ordinance.

Romania Cannot Reduce Social Security Contributions In 2011 – President

20:08, 07 Mai 2011
Romanian President Traian Basescu said Saturday that, in his opinion, it is impossible to reduce social security contribution rates in 2011.

Romanian Govt To Cut Almost 5200 Jobs At Finance Ministry

21:49, 04 Mart. 2011
The Romanian Government will reduce the number of jobs in the Ministry of Public Finance by 14%, or 5,175, more than 95% of which will be eliminated from revenue service ANAF, according to a draft decision.

Romanian Fin Ministry Employees Resume Protests Doubtful About Receiving Unpaid Bonuses

17:09, 19 Oct. 2010
About 100 employees of the Finance Ministry ceased activity Tuesday afternoon, as they doubt they would receive the wage bonuses promised by authorities, said National Public Servant Union (SNFP) leader Sebastian Oprescu.

Romanian Finance Ministry Employees Halt Protests

18:58, 14 Oct. 2010
Romanian Finance Ministry employees, who have been protesting over unpaid bonuses since Wednesday noon, decided Thursday evening to renounce protests after they were told that bonuses for August and September will be paid.

Negotiations With Romanian Finance Minister Have Hit „Deadlock” – Union Leader

20:19, 13 Oct. 2010
Romanian "Sed Lex" union leader Vasile Marica Wednesday evening told the Finance Ministry employees protesting the non-payment of their bonuses that talks with Minister Ialomitianu have hit a "deadlock" and he has sent for food and water for those that will go on striking.

Hundreds Of Romanian Public Finance Sector Employees Stage Spontaneous Protests Over Wage Cuts

15:32, 13 Oct. 2010
Hundreds of Romanian employees with the Finance Ministry and the National Agency for Fiscal Administration (ANAF) in capital Bucharest Wednesday staged spontaneous protests over significant wage reductions triggered by the elimination of their wage bonuses.

Romania To Keep IT Income Tax Exemption – Finance Ministry

19:03, 27 Mai 2010
Romanian IT developers will continue to enjoy income tax exemption, and the Government’s letter of intent to the IMF and memorandum of understanding with the EU make no mention of eliminating this advantage, says a Finance Ministry press release issued Thursday.

Romanian Fin Min Mulls Solidarity Tax For State-Run Cos Amid Public Sector Wage Cuts

16:06, 10 Mai 2010
Employees in Romanian state-owned companies whose income exceeds a certain cap may be forced to pay a solidarity tax, Finance Minister Sebastian Vladescu said Monday after a meeting with lawmakers of the ruling coalition.

Former Romanian Fin Min Considered For Finance Portfolio In Boc Govt

20:30, 17 Dec. 2009
The name of the former finance minister, in the Tariceanu Cabinet, Sebastian Vladescu is discussed for the finance portfolio in the future Boc Cabinet, people close to the matter told MEDIAFAX.

Romanian PM: No More Pay Raises 6 Months Before Elections

14:07, 29 Nov. 2009
Salaries will no longer be increased six months before elections, local authorities will be obliged to draft financial plans for a three-year period and there will be a maximum two budget revisions per year, Romania’s caretaker Prime Minister Emil Boc said at Realitatea TV.

Romanian Finance Ministry Allots RON1.8B For Farmer Subsidy Advance

16:32, 06 Oct. 2009
The Romanian Ministry of Finance approved Tuesday the allotting of 1.8 billion lei (EUR1=RON4.2619) to the Ministry of Agriculture, to finance the 70% advance meant for farmers within the support scheme offering single payments on surface in 2009, said interim Agriculture Minister Radu Berceanu.

Romania’s 8-Mo Budget Deficit At 4.5% Of GDP

19:25, 25 Sept. 2009
Romania’s consolidated budget deficit rose one percentage point in August, to 4.5% of the gross domestic product, the Finance Ministry said Friday.

Romania Jan-Jul Budget Deficit At 3.3% Of GDP

13:23, 27 Aug. 2009
Romania’s consolidated budget deficit rose to 17.58 billion lei (EUR1-RON4.2178) in January-July, amounting to 3.3% of the gross domestic product, the Finance Ministry showed Thursday.

Romania Shortlists 10 Bks To Lead EUR500M Eurobond Issue – Sources

13:07, 26 Aug. 2009
Romania’s Finance Ministry shortlisted ten banks in an auction to select the lead manager of a five to ten years Eurobond issue worth at least EUR500 million, people familiar with the matter said Wednesday.

Romanian Magistrate Bonuses To Cost State Budget RON48M Monthly

18:40, 20 Aug. 2009
Romanian Finance Ministry said that paying the 50% mental distress bonuses and the 15% confidentiality bonuses to the magistrates in 2009 would cost the budget RON48 million monthly (EUR1=RON 4,2310).

Romania 1H Public Debt Rises To 23.27% Of GDP

19:00, 18 Aug. 2009
Romania’s public debt rose to 23.27% of the gross domestic product in the first six months from 21.78% at the end of last year, according to Finance Ministry data.

Romania Ctrl Bk To Use Own Cash To Refund EUR5B IMF Loan Tranche – Fin Min

15:32, 18 Aug. 2009
The Romanian central bank will use its own funds to repay a EUR5 billion first tranche from a total EUR13 billion loan agreed with the International Monetary Fund, and not public money, the country’s Finance Ministry said Monday.

Romania’s New Fiscal Code To Be Approved In 2H Of ’09 – Fin Min

21:10, 20 Mai 2009
The Romanian Fiscal Code will be approved in the second half of the year, after talks with social partners, said Wednesday finance minister Gheorghe Pogea.

Annual Interest Rate For Romania’s EUR5B Loan From European Commission Sets At 3% -Fin Min

10:39, 07 Mai 2009
The interest rate for Romania’s EUR5 billion loan from the European Commission sets at 3% per year, compared with interest rates between 11.5% and 12% for state bonds on the domestic market, minister of Finance Gheorghe Pogea said Thursday.

Romania’s 1Q Budget Deficit At 1.5% Of GDP – Fin Min

16:03, 29 Apr. 2009
Romania’s consolidated budget deficit was at 7.925 billion lei (EUR1=RON4.1974), or 1.5% of the GDP, after the first quarter, lower than the maximum ceiling of RON8.3 billion agreed with the International Monetary Fund, the finance minister Gheorghe Pogea said Wednesday.

Romania’s 1Q Budget Deficit At 1.56% Of GDP – Fin Min

12:53, 14 Apr. 2009
Romanian consolidated budget posted after the first three months of the year a deficit of 8.29 billion lei (EUR1=RON4.1263), or 1.56% of the gross domestic product, Finance Minister Gheorghe Pogea told a news conference Tuesday.

Romanian Education Min Frowns At Teaching Staff Cut Proposition

14:31, 08 Apr. 2009
Romanian education minister Ecaterina Andronescu said Wednesday, after a meeting of the social democrat ministers with the party leaders, that she will not accept the Ministry of Finance proposition to cut staff or salaries in education.

Staff Spending To Drop From 8.4% To 7.5% Of The GDP – Romanian Fin Min

21:13, 29 Ian. 2009
Staff expenses will drop from 8.4% of the Gross Domestic Product to 7.5% of the GDP in 2009, while spending on the procurement of goods and services ill drop by 1.5 percentage points, from 6.5% of the GDP to 5% of the GDP, said Romanian finance minister Gheorghe Pogea.

Romanian President, IMF Mission Attend Talks On ’09 Budget

13:27, 28 Ian. 2009
Romanian President Traian Basescu attends talks on the 2009 budget at the Finance Ministry, alongside Prime Minister Emil Boc and the IMF mission in Romania.

Romania’s 11-Mo Budget Def At 2.9% of GDP, On Drop In Revs – Fin Min

18:42, 04 Dec. 2008
Romania’s budget deficit widened to 2.9% of the gross domestic product, or GDP, after the first 11 months, due to a slump in budget revenues in the last two months, following the international crisis, the country’s Finance Minister Varujan Vosganian told MEDIAFAX on Thursday.

Romania’s Fin Min, EIB Ink EUR1B Loan Deal

18:38, 24 Nov. 2008
Romania’s Finance Ministry signed Monday a loan agreement with the European Investment Bank, or EIB, worth EUR1 billion, for financing transports, environment and economic competitiveness projects.

Romania’s 2015 GDP Seen 15-20% Above Prognosis On EU Funds Absorption – Fin Min Director

14:00, 30 Oct. 2008
Romania’s gross domestic product might be 15-20% above the estimation of the National Prognosis Commission carried out for 2015, due mainly to the absorption of European structural funds, Razvan Cotovelea, director with Economy and Finance Ministry, said Thursday.

Romania’s Fondul Proprietatea To Sue Fin Ministry To Regain 20% Stake In Nuclearelectrica

11:42, 24 Sept. 2008
Romania’s investment fund Fondul Proprietatea intends to sue the Economy and Finance Ministry to regain the remaining stake until 20% in nuclear power operator Nuclearelectrica, after this had been lowered following several share capital hikes made by the nuclear plant.

Tax On Revs From Stock Exchange Invests Might Be Eliminated In ’09 – Fin Min

11:14, 24 Sept. 2008
Romania’s Economy and Finance Minister Varujan Vosganian said Wednesday that the taxes on revenues resulted from stock exchange investments would be eliminated in 2009.

Romania’s Fin Ministry To Give Ford EUR143M State Aid For Craiova Plant

18:33, 09 Sept. 2008
Romania’s Economy and Finance Ministry will give Ford Motor Co. (F) a state aid worth EUR143 million between 2008-2012, of which EUR17.5 million this year, if the group will carry its programmed investments worth EUR145 million at Daewoo Automobile Craiova this year.

Romania Fin Min Sees ’08 Econ Growth At 8%

15:00, 09 Sept. 2008
Romania’s economy and finance minister Varujan Vosganian said Tuesday that the country’s economic growth will likely be 8% at the end of the year.

Romania Rejects All Bids For RON 400M 5Yr Bonds

17:48, 07 Aug. 2008
Romania’s Economy and Finance Ministry has rejected on Thursday auction all bids for 400 million lei ($178.2 million) worth of five-year treasury bonds.

Romanian Fin Min Says ’08 Headline Inflation At 6-7%

14:19, 28 Iul. 2008
Romania’s headline inflation will be between 6% and 7% this year, exceeding the central bank’s target of 2.8-4.8%, Economy and Finance Minister Varujan Vosganian said Monday.

Romanian Fin Min Says ’09 Budget Def Around 2% Of GDP

14:38, 12 Iun. 2008
Romania’s 2009 budget will be constructed on a deficit of nearly 2% of gross domestic product, Economy and Finance Minister Varujan Vosganian said Thursday.

Oil Cos Cause Problems, Not The Fiscal Policy – Romanian Econ Fin Min

19:07, 28 Mai 2008
A decrease in excises and taxes for car fuels does not guarantee price decreases, in Romania the problem comes from the behavior of companies, not from the state’s fiscal policy, said economy and finance minister Varujan Vosganian.

Romanian Finance Ministry Compensates Deported, Disowned

11:42, 23 Mai 2008
Romania’s Ministry of Economy and Finance will grants compensations worth 25 million lei (EUR1=RON3.6767) in May and RON50 million in June to people deported during the communist regime or whose seized property cannot be returned, finance minister Varujan Vosganian said Friday.