government

Romania Pledges To Slash Heating Aid By End-August

Romania's government committed in the letter of intent to the International Monetary Fund to eliminate the thermal energy subsidy by the end of August at the latest and direct such aid only to disadvantaged categories.

Romanian Govt Promises To Hike Train Ticket Prices By More Than Inflation

Romania's Government has promised the International Monetary Fund that, by the end of August, it will amend legislation to allow state-owned transport companies CFR Calatori and Metrorex to increase their fees by more than the rate of inflation.

Romania Must Amend Newly Adopted Labor Laws By This Fall

The Romanian Government must extend the period over which overtime can be rewarded with paid time off to 90 days, from 60 days as stated in the country’s recently adopted labor laws, says the memorandum of understanding agreed upon with the European Commission.

Self-Employed Romanians May Hire Other People As Workers – Draft

Self-employed Romanians will be allowed to hire other people for their activity, with employment contracts, according to a draft government emergency ordinance.

Romania Gives Up Plans To Shut Down Oltchim If Privatization Fails

Romania's Government gave up its plans to shut down chemical plant Oltchim Ramnicu-Valcea (OLT.RO) if privatization procedures should fail in 2011, according to the country’s letter of intent to a EUR3.6 billion loan agreement with the International Monetary Fund.

Romania To Modernize 16 Train Stations For EUR280M

Romania will modernize 16 train stations within a program worth a total EUR283 million, the Government decided Wednesday.

Romania Vows Quick Privatization Or Liquidation For Oltchim – Draft

Romanian chemical company Oltchim (OLT.RO) will be liquidated if the government fails to privatize it by the end of the year, according to the draft letter agreed on May 3 between local authorities and the International Monetary Fund.

Romania Vows Before IMF To Slash Heating Aid, Bills May Soar

Romania's government committed in the latest talks with the International Monetary Fund to eliminate the thermal energy subsidy in the near future, which could increase household heating bills by up to 60% by the end of the year, depending on the mayoralties' capacity to cover the difference.

Romania, EU To Discuss Local Fuel Market Probe Results, Measures

Romania will most likely complete its fuel market probe and conclusions in the second half of this year, after talks with the European Commission, people close to the matter told MEDIAFAX.

Romania, IMF Agree On New Deal Letter Of Intent

Romanian authorities and the International Monetary Fund have reached an agreement on the Government's course of action outlined in the follow-up deal's letter of intent, people close to the matter told MEDIAFAX on Saturday.

Romania’s Population Expected To Decrease In Next Four Yrs

The Romanian Government estimates Romania’s population will decrease by over 200,000 people in the next four years, to 21.1 million in 2015 from 21.3 million in 2011.

Romania To Set Up Investment Fund For Profitable SMEs With Cash Problems

Romania's Government will create an investment fund, fed by the National SME Loan Guarantee Fund, the Romanian Counterguarantee Fund and Eximbank, to finance profitable SMEs with temporary cash problems, and will also work out a system to finance small unlisted companies.

Romania, Bechtel Negotiating Deadline Past 2012 For Transylvania Hwy – Sources

Romania's Transport Ministry and public road authority CNADNR have begun negotiations with Bechtel on a new calendar for the construction of the Transylvania Highway, with new deadlines past the current December 2012.

Romanian State Co Managers Must Show Performance Or Be Fined, Sacked

Romanian autonomous administrations and state companies will be required to inform the Finance Ministry about their financial indicators, monthly or quarterly, while managers will be fined or sacked if their companies fail to meet certain performance criteria.

Romanian Govt Adopts National Reform Program For 2011-2013

Romania's Government has adopted the National Reform Program for 2011-2013, a document comprising economic recovery and employment measures, and which transposes the objectives of the Europe 2020 Strategy into national legislation.

Eurostat Team Visits Romania For Talks On 2010 Deficit

A team of European Union’s statistical arm Eurostat will arrive in Bucharest at the end of the month to hold talks on the country’s budget for 2010, a Finance Ministry official said Wednesday.

Romania To Set New Euro Adoption Target By End-April – PM

Romania’s Government will decide on a new euro-adoption calendar by end-April, after talks with the president and the central bank, Prime Minister Emil Boc said Tuesday.

Amended Romanian Public-Private Law Punishes Tender Contestation Losers

Companies will no longer have to provide a 2% guarantee in order to contest a Romanian tender for a public-private partnership contract, but a guarantee of 1% of the contract's estimated value will be a condition for participation.

Romanian FDI Seen Rising To EUR5.8B In 2014

The Romanian government estimates foreign direct investments will increase to EUR5.8 billion in 2014, from EUR3.6 billion predicted for this year, according to the draft convergence program for 2011-2014.

Tax Increases Could Shadow Romania Private Consumption Recovery

Romanian private consumption is set to pick up in the coming period, following sharp reductions in the previous years, but recovery could lag behind due to possible tax increases and higher global prices for oil and food items, according to the draft convergence program for 2011-2014.

Romania Amends Law On Public-Private Partnership – Sources

The Romanian Government amended the law on public-private partnerships (PPP), after the European Commission warned Romanian authorities that the normative act breaches EU legislation, people close to the matter told MEDIAFAX Wednesday.

Romanian Govt To Subsidize Purchase Of Electric, Hybrid Cars

Romania's Government will encourage the purchase of electric and hybrid cars with price discounts of 20% and 10%, respectively (up to EUR3,700 or EUR1,800, respectively), Environment Minister Lazlo Borbely announced Wednesday.

Romanian Health Ministry’s Budget Raised by RON6.2M For Stem Cell Donors Registry

The budget of the Romanian Health Ministry has been raised by 6.2 million lei (EUR1=RON4.0858) and its staff numbers by 24 people to ensure the functioning of the country’s stem cell donors registry, Prime Minister Emil Boc said after the Cabinet meeting Wednesday.

Romanian Govt Expects RON8.8B Revenue From Stricter Fiscal Inspections

Romania's Government expects to collect 8.8 billion lei (EUR1=RON4.0966) over the next three years from stricter controls on "high fiscal risk taxpayers," plus RON160 million from taxes on high wealth.

Romania Might Be Affected By New Recession, Caused By Japan Earthquake – Govt

Economic recovery is difficult and overdue, while the effects of the earthquake in Japan raise new concerns about the global recession that can affect Romania, given the "climate of psychosis around cataclysms," which can impact markets, says the Government's fiscal strategy.

Romanian Govt To Reduce Budget Gap In 2012-2014 Through Layoffs

Romania's Government will reduce the budget deficit over the next three years through layoffs, suspending payment of the 13th salary and holiday bonuses, as well as freezing the hierarchical coefficients provided by the public sector wage law.

Romanian Govt Considers Paying Court-Won Wage Rights In Smaller Tranches

The Romanian Government considers reducing the tranche to be paid next year to public sector employees who won salary rights in court to 5% from 34%, according to a draft fiscal strategy for 2012-2014 obtained by MEDIAFAX.

Romanian Govt To Reduce Social Contributions, Keep Flat Tax, VAT Unchanged Until 2014

The Romanian Government will reduce social security contributions by two percentage points in the second half of 2011 and will keep the flat tax and the value added tax unchanged in the next three years.

Romanian Govt To Assign RON35B To Investments This Year, RON45B In 2012

Romania’s Government will assign 35 billion lei (EUR1=RON4.0966) for investments this year and the sum will be increased to RON45 billion next year, Prime Minister Emil Boc told a news conference Friday.

Romanian PM: Govt To Deregulate Energy Mkt According To Calendar

Romania's Government will deregulate its energy market by 2015, following a calendar agreed upon with the International Monetary Fund and the European Commission, Prime Minister Emil Boc said Wednesday.

Romanian Govt To Shut Down Illegal Buildings On Black Sea Coast, Raise Fines

Romania's Government plans to close every illegal building, whether completed or under construction, on the Black Sea Coast and will increase the fines for such buildings ten times.

Romanian Govt May Reject “Unusually Low” Public-Private Auction Bids – Draft

The Romanian Government may reject bids submitted on auctions awarding public-private partnership contracts, if the respective offers are “unusually low” and if data show investors will not be able to meet requirements.

Romanian Govt To OK New Layoffs In State-Run Cos, With Added Social Protection

Romania's Government will soon authorize new layoffs in the mining, energy and defense sectors, but will reintroduce a monthly supplementary income for the sacked employees, a benefit that may be terminated if the beneficiary turns down a new job because of a low salary.

Romanian Govt To Seek Confidence Vote For Teacher Wage Cap Act, Social Code

Romania's Government on Thursday decided to begin the steps towards seeking a vote of confidence in Parliament for the bill capping wage raises for teachers who won salary rights in court, and for the Social Dialog Code, people close to the matter told MEDIAFAX.

Romanian Govt Does Not Support Additional Tax On Bank Profit Without EU Agreement

Romania's Government does not support introducing a "solidarity tax" of 2.5% on the profit of financial and lending institutions, proposed by a number of MPs, without a EU consensus, fearing that banks will transfer their profit abroad.

Romanian Govt Might Reduce Social Security Contributions From Employers – Sources

Romania's Government is considering lowering the total social security contribution rate from 44% to 41%, reducing the rate paid by the employer by three points, starting with the second half of the year, people close to the matter told MEDIAFAX on Monday.

Romanian Ruling Coalition Allows Govt To Seek Conf Vote On Teachers’ Wages Law

Romania’s ruling coalition decided Monday to allow the Government to seek a confidence vote in Parliament to pass a law capping teachers’ wages, people close to the matter told MEDIAFAX.

Romanian PM Says New “First Home” Program To Start After Easter

Romania’s Prime Minister Emil Boc said Friday the new “First Home” program will start after Easter and its application norms will be approved in the next two weeks.

EXCLUSIVE: Romanian Govt Bans Wage Hikes For Teachers In 2011

The Romanian Government will freeze this year the salaries of teachers who won wage increases in court, capping them at the level in January, according to a draft act drawn up by the Government and obtained by MEDIAFAX.

Romanian Govt Approves List Of Hospitals To Be Converted To Nursing Homes

Romania's Government on Thursday approved the list of 67 hospitals that are to be converted to nursing homes for the elderly, starting in April.