Radio România Internațional

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  • February 22, 2025 UPDATE

    February 22, 2025 UPDATE

    ELECTIONS The Central Electoral Bureau of Romania announced that it decided on Saturday to admit the registration of the Protocol on the establishment of the electoral alliance “Romania Forward”, signed by the Social Democratic Party (PSD), the National Liberal Party (PNL) and the Democratic Union of Ethnic Hungarians in Romania (UDMR), in the ruling coalition, in order to support Crin Antonescu’s candidacy in the presidential elections. Antonescu is also backed by the group of ethnic minorities in the Romanian Parliament. The Central Electoral Bureau for the election of the president of Romania in May was selected on Friday. The Bureau is made up of 5 judges with the High Court of Cassation and Justice, the president and vice-presidents of the Permanent Electoral Authority and one representative of each party in Parliament. Parties, political or electoral alliances, ethnic minority organisations and independent candidates will be able to submit their candidacies by March 15, after which the Central Electoral Bureau is to rule on their validity. The election campaign begins on April 4 and ends on May 3, with the vote scheduled on May 4 and the second round on May 18. In December the Constitutional Court cancelled the presidential election over foreign interference in the electoral process. Thousands of Romanians, supporters of the independent sovereigntist candidate Călin Georgescu, who came out first in the first election round in December, took to the streets again in Bucharest on Saturday to demand that the elections be resumed with the second round.

     

    MIDDLE EAST Romania’s interim president Ilie Bolojan said on Saturday that Romania welcomes the release of the 6 Israeli hostages held captive in Gaza, one of whom has dual, Israeli and Romanian citizenship. “We take this opportunity to reiterate our support for implementing the ceasefire agreement and releasing the hostages, as well as for the urgent provision of humanitarian aid to the population of Gaza,” president Bolojan posted on social media. He also mentioned that Romania thanks the US, Qatar, Israel and Egypt for the efforts made to free the hostages. On Saturday, Hamas handed over the last 6 hostages in a first phase of the ceasefire agreement with Israel in Gaza, which provided for the release of a total of 33 captives. Hamas, in turn, receives over 700 Palestinian prisoners from Israel.

     

    RATING Fitch has sent a clear signal that Romania must carry on its fiscal consolidation measures and restore budgetary balance, in order to improve its fiscal credibility, the finance minister Tanczos Barna said after the international financial rating agency announced on Friday that it is keeping Romania in the investment grade category. In a statement, the agency confirmed Romania’s long-term rating at ‘BBB minus’, with a negative outlook. According to Fitch, the rating relies on the country’s EU membership and capital inflows that contribute to public revenues and macro-stability. The gross domestic product per capita and the governance and human development indicators are also higher than in countries in the same rating category, the agency explains. These strengths are overshadowed, however, by a significant deterioration of public finances and a sharp slowdown in economic growth in 2024. Adding to this is a possible adverse effect of political uncertainty. In December last year, Fitch announced that it had downgraded the outlook assigned to Romania from stable to negative. The same announcement came later from Standard & Poor’s.

     

    ENERGY Electricity and natural gas tariffs could be offset in Romania even after April 1, when the current aid scheme is set to expire. The energy ministry has posted for public review a draft act extending the capping period, under which the scheme for electricity is extended until July 1, and for natural gas by one year, until April 1, 2026. The capping extension proposal comes as prices on European electricity and gas exchanges have increased significantly, and also as the low temperatures in Romania this winter entailed a significant increase in consumption. As a result, the line minister Sebastian Burduja announced that the government had decided to protect Romanians and support the competitiveness of Romanian companies. After the energy market was deregulated on January 1, 2021, Romania was among the European countries the most severely affected by record-high electricity and natural gas prices. Thanks to the government’s price capping decisions, households and businesses were protected from excessive prices.

     

    GERMANY Germany holds federal elections on Sunday that are crucial to the country’s future, as the far-right is on the rise and the economy is heading for a third year of recession. The vote comes after the coalition of the Social Democrats, Liberals and Greens led by the Social Democratic Chancellor Olaf Scholz collapsed late last year. According to polls, the Conservatives are expected to win. With the far-right in second place in the polls, however, analysts say that in order to govern, the Conservatives will have to reach a compromise with the Social Democrats or the Greens, overcoming their differences.

     

    AIRCRAFT US aircraft deployed at the Mihail Kogălniceanu base (southeastern Romania) are performing low-altitude training flights in and around Constanţa County these days, the Romanian Air Forces announced. They say that the exercises will continue until February 28 and promised that all safety measures have been taken to reduce the noise impact on civilians. Officials say that these trainings aim to increase the response capacity of aeronautical personnel.

     

    CORRUPTION A company and 2 individuals are prosecuted in a case handled by the Romanian National Anticorruption Directorate (DNA), together with investigators from the US Department of Defence, the DNA announced today. The company owned by a Greek national has allegedly bribed a foreign official to get a EUR 9 mln contract to refuel aircraft at the NATO military base in Mihail Kogălniceanu. Two other individuals are suspected of complicity in continuing bribery in connection with an official of a foreign country.

     

    HANDBALL CS Minaur Baia Mare qualified for the quarterfinals of the men’s handball competition EHF European Cup, although they were defeated by the Finnish team BK-46, 32-31, on Saturday, in Karis, in the second leg of the round of 16. Minaur also played the first match in Finland, on Friday, winning 33-30. Last season, Minaur Baia Mare reached the semifinals of the European Cup. (AMP)

  • February 22, 2025

    February 22, 2025

     

    ELECTIONS The Central Electoral Bureau for the election of the president of Romania in May was selected on Friday. The Bureau is made up of 5 judges with the High Court of Cassation and Justice, the president and vice-presidents of the Permanent Electoral Authority and one representative of each party in Parliament. Parties, political or electoral alliances, ethnic minority organisations and independent candidates will be able to submit their candidacies by March 15, after which the Central Electoral Bureau is to rule on their validity. Thousands of Romanians, supporters of the independent sovereigntist Călin Georgescu, who came out first in the first election round in December, took to the streets again in Bucharest today to demand that the electoral process be resumed from where it was canceled. The billionaire Elon Musk, an advisor to the US president Donald Trump, Friday night posted a critical message on his social network X (the third this week) about the cancellation of the December elections. The US vice-president J.D. Vance had also previously questioned the cancellation of the elections. Romania’s Prime Minister Marcel Ciolacu said Bucharest would try to provide clarifications about the situation through all diplomatic channels.

     

    RATING Fitch has sent a clear signal that Romania must carry on its fiscal consolidation measures and restore budgetary balance, in order to improve its fiscal credibility, said finance minister Tanczos Barna after the international financial rating agency announced on Friday that it is keeping Romania in the investment grade category. In a statement, the agency confirmed Romania’s long-term rating at ‘BBB minus’, with a negative outlook. According to Fitch, the rating relies on the country’s EU membership and capital inflows that contribute to public revenues and macro-stability. The gross domestic product per capita and the governance and human development indicators are also higher than in countries in the same rating category, the agency explains. These strengths are overshadowed, however, by a significant deterioration of public finances and a sharp slowdown in economic growth in 2024. Adding to this is a possible adverse effect of political uncertainty. In December last year, Fitch announced that it had downgraded the outlook assigned to Romania from stable to negative. The same announcement came later from Standard & Poor’s.

     

    ENERGY Electricity and natural gas tariffs could be offset in Romania even after April 1, when the current aid scheme is set to expire. The energy ministry has posted for public review a draft act extending the capping period, under which the scheme for electricity is extended until July 1, and for natural gas by one year, until April 1, 2026. The capping extension proposal comes as prices on European electricity and gas exchanges have increased significantly, and also as the low temperatures in Romania this winter entailed a significant increase in consumption. As a result, the line minister Sebastian Burduja announced that the government had decided to protect Romanians and support the competitiveness of Romanian companies. After the energy market was deregulated on January 1, 2021, Romania was among the European countries the most severely affected by record-high electricity and natural gas prices. Thanks to the government’s price capping decisions, households and businesses were protected from excessive prices.

     

    CORRUPTION A company and 2 individuals are prosecuted in a case handled by the Romanian National Anticorruption Directorate (DNA), together with investigators from the US Department of Defence, the DNA announced today. The company owned by a Greek national has allegedly bribed a foreign official to get a EUR 9 mln contract to refuel aircraft at the NATO military base in Mihail Kogălniceanu. Two other individuals are suspected of complicity in continuing bribery in connection with an official of a foreign country.

     

    GERMANY Germany holds federal elections on Sunday that are crucial to the country’s future, as the far-right is on the rise and the economy is heading for a third year of recession. The vote comes after the coalition of the Social Democrats, Liberals and Greens led by the Social Democratic Chancellor Olaf Scholz collapsed late last year. According to polls, the Conservatives are expected to win. With the far-right in second place in the polls, however, analysts say that in order to govern, the Conservatives will have to reach a compromise with the Social Democrats or the Greens, overcoming their differences.

     

    FOOTBALL The Romanian football champions FCSB will face the French team Olympique Lyon in the Europa League round of 16, according to Friday’s draw in Nyon, Switzerland. FCSB will play the first leg at home on March 6, with the return leg scheduled on March 13. FCSB qualified for the round of 16 of the Europa League after outplaying the Greek team PAOK Thessaloniki, coached by the Romanian Răzvan Lucescu. The aggregate score was 4-1, with the Romanians defeating the Greeks 2-1 in the first leg, and 2-0 in Bucharest on Thursday evening. (AMP)

  • S&P downgrades Romania’s rating

    S&P downgrades Romania’s rating

    For Romania and its economic-financial prospects, 2025 begins in the same way as 2024 ended: Standard&Poor’s rating agency has maintained the country’s BBB- rating, the lowest investment grade category, but has revised its outlook from stable to negative. At the end of last year, Fitch also revised its outlook to negative for long-term hard currency loans, while maintaining its BBB- grade.

    Standard&Poor’s believes that that the country’s fragmented and uncertain political environment is likely to delay the new government’s fiscal consolidation agenda. The high spending made before the elections pushed the deficit to close to 8.7% of GDP, much above the agency’s expectations, which signals challenges to cost containment amid a slowing economy. The experts are also saying that the loose fiscal policies will keep the current account deficits wide and increasingly financed by debt-creating flows, potentially exposing Romania to foreign investor confidence shocks.

    In a first reaction, Romania’s finance minister Tánczos Barna said the change from stable to negative outlook shows measures are needed to cut the budget deficit, as well as a balanced budget and a slimmer state. “Romania is still recommended to investors as safe. The decisions adopted by the government to reduce the budget deficit and consolidate economic growth must be implemented at a fast pace, in the version already agreed with our European partners”, the minister posted on his Facebook page. He emphasised that this year’s budget, which will soon be submitted to Parliament for approval, strengthens this measured approach to the management of public funds. If the evolution of Romania’s economy confirms the fears of rating agencies leading to its actually losing the stable grade, this would result in higher lending costs for Romania.

    According to analysts, investors and rating agencies are still skeptical, owing to the internal political uncertainty and the delay in structural reforms. However, towards the end of 2024, the newly formed coalition government made up by the Social Democratic Party, the National Liberal Party and the Democratic Union of Ethnic Hungarians in Romania, adopted an emergency order reflecting its will to drastically cut unnecessary spending, especially in the central and local administration, in order to reduce the deficits. The government also froze salaries and pensions to prevent the budget from sliding on a dangerous path.

    The measures taken have already sparked a wave of discontent among some public sector employees, so the coalition government will be faced with a serious social test. Moreover, by a turn of events, 2025 has become an election year, just like 2024. In May, Romanian voters will again go to the ballots to elect their president, as the Constitutional Court last December annulled the presidential elections saying the election process had been corrupted.

  • January 25, 2025 UPDATE 2

    January 25, 2025 UPDATE 2

     

    RATING The financial rating agency Standard & Poor’s confirmed Romania’s ‘BBB minus’ rating, but revised the outlook from “stable” to “negative”. The reasons are related to high fiscal and external risks, the agency reports. According to S&P, the fragmented and uncertain political environment, as well as the substantial spending ahead of the elections, pushed the fiscal deficit to almost 8.7% of GDP, far above expectations. The Romanian finance minister Tánczos Barna says the change in the outlook from stable to negative indicates that measures are needed to reduce the budget deficit, and that the country needs a balanced public budget and a streamlined government structure. He also said that the government’s measures to reduce the deficit and consolidate economic growth must be implemented at an alert pace, in the form already agreed on with the EU.

     

    UKRAINE The president of Ukraine Volodymyr Zelenskyy said that, taking into account Ukraine’s cooperation with the Republic of Moldova, it is possible for Kyiv to cover Moldova’s entire electricity demand, and a 30% discount on the supply price is also possible. He made these statements at a meeting on Saturday in Kyiv with the president of Moldova, Maia Sandu. The two officials also discussed possible coal deliveries to the Republic of Moldova. In turn, Maia Sandu accused Russia of trying to create economic and social chaos in Moldova and bring a pro-Russian government in power in Chisinau. She traveled to Kyiv amid energy tensions in Transnistria, a pro-Russian breakaway region between the two countries, AFP reports. This strip of land with a population of about half a million, which remains outside Moldova’s control, was supplied by the Russian natural gas giant Gazprom for free, through a pipeline that crossed Ukraine. The latter ended the contract with Moscow on January 1, thus cutting off supplies to Moldova, including to Transnistria, which declared a state of emergency. With Kyiv fighting the Russian invasion for three years, Chisinau is worried about a possible spillover of the conflict to its territory, especially through the destabilisation of Transnistria by Russia. The rest of Moldova is for now safe from energy cuts, thanks to electricity and gas imports from Romania.

     

    ELECTIONS The Liberals will convene on Sunday in a special National Council meeting to validate the former party president Crin Antonescu as the joint candidate of the ruling coalition in Romania. The Social Democrats scheduled a special congress on February 2 for the same purpose, and UDMR will make its decision at the beginning of next week. The first and second rounds of the presidential elections are scheduled for May 4 and 18. So far, the mayor of Bucharest, Nicuşor Dan, the independent candidate Călin Georgescu and the president of Save Romania Union, Elena Lasconi, have announced plans to run for president. The latter two were top placed in the presidential elections canceled last year. After the first election round on November 24 was validated, the Constitutional Court of Romania canceled the election as a whole on December 6, although voting in the second round had already begun abroad. The Court made its decision after the Supreme Defence Council published a report indicating foreign interference in the electoral process, but investigations have so far failed to confirm it. Tens of thousands of Romanians took to the streets to demand that the second round be resumed.

     

    EXHIBITION Romania’s foreign ministry announced that on Saturday the National Museum of History of Romania (MNIR) and the Culture Ministry were notified that an explosion took place and several exhibits were stolen at the Drents Museum in the Netherlands, which is hosting an exhibition called ‘Dacia! Rijk van goud en zilver’ (Dacia! Kingdom of gold and silver), organised jointly with MNIR. According to the institution, initial investigations indicate that the blast was design to help as yet unidentified perpetrators to break into the museum building and steal pieces from Romania’s Dacian treasure. The foreign ministry notified the Romanian interior ministry and the Romanian police, and the Romanian embassies in all neighboring countries are on alert. Romania’s foreign minister Emil Hurezeanu spoke with his Dutch counterpart Caspar Veldkamp, ​​highlighting the exceptional importance of the stolen exhibits. The Dutch side assured Romania of its operational and political determination to solve the case. The Dutch police also activated cross-border cooperation mechanisms and informed the Interpol of the matter.

     

    HOLOCAUST The minister of culture Natalia Intotero will represent Romania, on Monday, at the ceremony commemorating the 80th anniversary of the liberation of the Auschwitz-Birkenau concentration camp in Poland. The event, held under the patronage of the president of Poland, marks the International Holocaust Remembrance Day declared by the United Nations, and brings together camp survivors, official delegations of states and international organisations. Romania’s participation in the ceremony on January 27 reflects its solid commitment to keeping alive the memory of the victims of the Holocaust, to fighting all forms of denial, distortion, or downplaying of this tragic moment, as well as to fighting anti-Semitism, xenophobia, radicalisation and hate speech, while at the same time promoting respect for fundamental human rights, both at national and international level, the Romanian culture ministry said. (AMP)

  • January 25, 2025

    January 25, 2025

    RATING The financial rating agency Standard & Poor’s confirmed Romania’s ‘BBB minus’ rating, but revised the outlook from “stable” to “negative”. The reasons are related to high fiscal and external risks, the agency reports. According to S&P, the fragmented and uncertain political environment, as well as all the substantial spending ahead of the elections, pushed the fiscal deficit to almost 8.7% of GDP, far above expectations. The Romanian finance minister Tánczos Barna says the change in the outlook from stable to negative indicates that measures are needed to reduce the budget deficit, and that the country needs a balanced public budget and a streamlined government structure. He also said that the government’s measures to reduce the deficit and consolidate economic growth must be implemented at an alert pace, in the form already agreed on with the EU.

     

    PROTESTS The government of Romania is completely willing to find solutions to protect people’s spending power while at the same time preserving macro-economic balance, the prime minister’s office chief said after talks with representatives of the employees who protested in front of the Government headquarters. On Friday, thousands of civil servants, reserve officers, police staff, miners, foresters, steelworkers, Bucharest Metro employees and pensioners took part in a rally to protest a government order that froze salary increases for many public sector personnel at the beginning of this year, and suspended the cost-of-living adjustment of public pensions. A reorganisation of central public institutions and state-owned companies was also announced these days. According to PM Marcel Ciolacu, restructuring the public sector is a priority for the current governing coalition comprising the Social Democratic Party, the National Liberal Party, and the Democratic Union of Ethnic Hungarians in Romania.

     

    UKRAINE The president of the Republic of Moldova, Maia Sandu, is meeting today in Kyiv with the president of Ukraine, Volodymyr Zelenskyy, with PM Denys Shmykhal and with the Parliament Speaker, Ruslan Stefanchuk. The main topics of the discussions are the connection of the infrastructure of the two states, trade, collaboration in the EU accession process, and regional security. An important topic on the agenda is the energy crisis caused by Russia, which has increased energy prices and left the citizens of Transnistria, a Russian-speaking breakaway region in the Republic of Moldova, without heat and electricity. The rest of Moldova is safe for the time being, thanks to electricity and gas imports from neighboring Romania.

     

    ELECTIONS The Liberals will convene on Sunday in a special National Council meeting to validate the former party president Crin Antonescu as the joint candidate of the ruling coalition in Romania. The Social Democrats scheduled a special congress on February 2 for the same purpose, and UDMR will make its decision at the beginning of next week. The first and second rounds of the presidential elections are scheduled for May 4 and 18. So far, the mayor of Bucharest, Nicuşor Dan, the independent candidate Călin Georgescu and the president of Save Romania Union, Elena Lasconi, have announced plans to run for president. The latter two were top placed in the presidential elections canceled last year. After the first election round on November 24 was validated, the Constitutional Court of Romania canceled the election as a whole on December 6, although voting in the second round had already begun abroad. The Court made its decision after the Supreme Defence Council published a report indicating foreign interference in the electoral process, but investigations have so far failed to confirm it. Tens of thousands of Romanians took to the streets to demand that the second round be resumed.

     

    HOLOCAUST The minister of culture Natalia Intotero will represent Romania, on Monday, at the ceremony commemorating the 80th anniversary of the liberation of the Auschwitz-Birkenau concentration camp in Poland. The event, held under the patronage of the president of Poland, marks the International Holocaust Remembrance Day declared by the United Nations, and brings together camp survivors, official delegations of states and international organisations. Romania’s participation in the ceremony on January 27 reflects its solid commitment to keeping alive the memory of the victims of the Holocaust, to fighting all forms of denial, distortion, or downplaying of this tragic moment, as well as to fighting anti-Semitism, xenophobia, radicalisation and hate speech, while at the same time promoting respect for fundamental human rights, both at national and international level, the Romanian culture ministry said.

     

    HOSTAGES Four Israeli female soldiers held hostage by Hamas since October 7, 2023, have reached Israel today. In exchange for them, Israel must release 200 Palestinians held in its prisons. This is the second prisoner exchange under the ceasefire that came into effect last Sunday between Israel and Hamas, after 15 months of war. In a first stage, which will last 6 weeks, 33 Israeli hostages are to be released in exchange for about 1,900 Palestinian prisoners. A Hamas attack on October 7, 2023 killed 1,210 Israelis, most of them civilians. Of the 251 people kidnapped, 91 are still in Gaza, 34 of whom are dead according to the Israeli army. In retaliation, Israel launched an offensive in the Gaza Strip, resulting in at least 47,000 casualties, most of them civilians, and a humanitarian disaster. (AMP)

  • December 19, 2024 UPDATE

    December 19, 2024 UPDATE

    TALKS The last thing Romania needs is a wide-scale governmental and Parliamentary crisis, the country’s president, Klaus Iohannis, said on Thursday. There is no time now for petty arguments and every leader must see themselves as a state-person and negotiate for a new government to propose a budget and stage presidential election as soon as possible next year, Iohannis went on to say. The Romanian president has announced he will summon the political parties for a new round of talks. His statement comes after the announcement by the country’s Prime Minister and Social-Democratic leader, Marcel Ciolacu that the PSD is going to withdraw from the talks for setting up an Executive and that it will be voting for a minority right-wing government. The interim PNL chair, Ilie Bolojan, says the Liberals are willing to contribute to finding a solution. In his opinion the country is already in a complicated situation and the inability to build up a ruling coalition will cost the Romanians dearly. The USR MP, Catalin Drula, whose party has been accused of far-fetched claims for carrying on the talks, has lashed out at Ciolacu’s statement and the UDMR has made an appeal to the coalition partners to come back to the negotiations table. After the cancellation of the presidential election, the pro-European parties, which won seats in Parliament following the election round on December 1st, namely PNL, USR and UDMR have kicked off talks with a view to forging a coalition government.

     

    SUMMIT ‘There would be no winners in a potential trade war between the United States and the European Union except China’, the EU’s Foreign Affairs High Representative, Kaja Kallas said on Thursday. Her statement comes against the uncertainties related to the future decisions by the Trump administration, due to take over on January 20th. There are fears the new US administration might raise import fees for European products up to 20%, an alternative being considered by heads of state and government at the European Summit underway in Brussels. The aforementioned summit, where Romania is being represented by its president, Klaus Iohannis, has high on its agenda the situation in Ukraine, migration, the Middle East, the bloc’s civil and military training, crisis-response as well as the situation in the Republic of Moldova and Georgia.

     

    FITCH The Fitch rating agency has worsened Romania’s outlook from “stable” to “negative” regarding the raring for long-term loans in foreign currency. Among the reasons cited, Fitch mentions political risk factors, including “eroded political credibility” and political uncertainty, as well as fiscal slippages and unsustainable spending. An important factor that has been taken into account is the large budget deficit. Among the causes, Fitch lists public sector wage spending and “unfunded pension increases ahead of the election”. In addition, the new Romanian Parliament is more divided and there is an increase in the share of extreme right anti-European parties, which reflects the rising polarization of Romanian society. On the other hand, a plus for Romania is, according to Fitch, the solid banking sector. Among the factors that can lead to a positive rating, the agency mentions the higher than projected fiscal consolidation, which supports the stabilization of the public debt (GDP) in the medium term and the reduction of external indebtedness and external financing risks.

     

    FOOTBALL The main shareholder of the football club Rapid Bucharest, one of the most popular in Romania, the businessman Dan Şucu, became the majority shareholder of the Italian club Genoa, the Serie A group announced on its official website. The source points out that, following a capital increase to 45,356,262 Euros, of which 5,356,262 Euros are free and another 40,000,000 paid on December 14, the Board of Directors approved the Romanian investor’s offer. He subscribed to the entire capital increase, obtaining, in return, a share in the share capital of about 77% of Genoa CFC and leaving the previous shareholders as a minority – the release also states. President of the Concordia Employers’ Confederation, Şucu (61 years old) is a prominent figure in the Romanian economy. He is the founder of Mobexpert, the largest furniture brand in Romania, with over 2,200 employees. He is also involved in the real estate sector and in the media, with a key role in the business daily “Ziarul Financiar”. Genoa is ranked 13thin Serie A after 16 matches, with 16 points.

     

    (bill)

  • December 18, 2024 UPDATE

    December 18, 2024 UPDATE

    Council – Romania’s President, Klaus Iohannis, who is participating in the EU Summit – Western Balkans and the European Council meeting, argued, on Wednesday, that an integrated approach and finding tools and solutions are needed, because this is what the people are awaiting from the EU leadership and from the national leaderships. The head of state, who had a first meeting with the new president of the European Council, António Costa, discussed with him “the importance of resilience and a strategic orientation, to be able to manage all the challenges”. Klaus Iohannis stated that efforts are needed to combat Russia’s “malignant” interference, to reduce exposure to these treacherous attacks. “Romania had an enormous problem and it coped with it”, the president declared on Wednesday, referring to foreign interference in the electoral process. On Thursday, the agenda of the European Council will include topics such as Ukraine, migration, the situation in the Middle East, the EU’s preparation in the civil and military fields and the response to crises, the role of the EU in the world and the EU enlargement, the Republic of Moldova, Georgia and issues related to freedom, security and justice.

     

    Rating – Fitch confirmed Romania’s long-term foreign currency rating at ‘BBB minus’, but worsened the assigned outlook from stable to negative, which means that a further downgrade is possible – the financial rating agency said in a statement. According to Fitch, the rating reflects the major risks facing Romania due to additional political tensions emerging on the political scene following the cancelation of the presidential election due to external interference, as well as to the parliamentary elections that resulted in a more divided Parliament, with an increase in extreme right-wing, anti-EU parties, reflecting the increased polarization of Romanian society. Added to these causes are fiscal imbalances and the increase in public debt. The rating granted by Fitch, which measures the ability of a Government to honor its financial obligations, could lead to an increase in interest rates for the loans that the Executive intends to take out from the foreign market.

     

    Parliament – A reception center for the newly elected senators and deputies is open as of Wednesday until Friday at the Parliament Palace in Bucharest. The new MPs are being guided, these days, through the formalities needed in order to take over their mandates. The new Parliament resulting from the legislative elections of December 1 was convened, on Friday, for the setting-up session. On Wednesday, the representatives of the PSD, PNL, UDMR and the group of national minorities other than the Hungarian one continued the discussions to finalize the governing program and the structure of the new executive. The leaders of USR left the meeting, after they conditioned their entry into the government on the approval of some measures, including the urgent adoption of the state budget for next year and the establishment in the coalition of a commission of inquiry regarding the conditions for organizing the elections and preventing foreign influences. The intention of the pro-European parties is for the future government to be endorsed by Parliament by the holidays. If USR decides not to be part of the future executive – PSD, PNL, UDMR and the group of national minorities have a total of 244 mandates of senators and deputies. 233 votes are needed to invest the government in Parliament.

     

    Timişoara – In Timişoara (western Romania), manifestations dedicated to the anti-communist revolution of December 1989 continued on Wednesday. Tuesday, in the city in western Romania, was a day of mourning in memory of those killed at the outbreak of the Revolution. After the bloody repression of the revolt on December 17, the big factories went on strike and the workers lined up and gathered in the city center. On December 20, Timişoara became the first city free from communism in Romania, and from here the flame of the Revolution spread throughout the country, to culminate, on the 22nd, in Bucharest, with the escape of dictator Nicolae Ceauşescu and his wife, Elena.

     

    Handball – Romania will host the European Men’s Youth Handball Championship in 2026, the Romanian Handball Federation announced on Wednesday. The championship will take place in Cluj-Napoca and Turda. This is the second European competition that Romania will organize in 2026, when the country will host the European Women’s Handball Championship, along with the Czech Republic, Poland, Slovakia and Turkey.

     

    National minorities – Romania is a model of good coexistence between citizens, whether they belong to the majority or to national minorities, and a model of promoting identity rights – the Prime Minister Marcel Ciolacu said, on Wednesday in a message on the occasion of the Day of National Minorities in Romania, December 18. “Through dialogue, respect and understanding, the Romanian citizens, belonging both to the majority and the minority, have managed to coexist harmoniously in their communities, as well as at the national level” the head of Romania’s government also said. Several events dedicated to the Day of National Minorities were organized, also on Wednesday, by the Department for Interethnic Relations within the General Secretariat of the Government, in collaboration with the “Dimitrie Gusti” National Village Museum. The 19 minorities, other than the Hungarian one, recognized by the Romanian state are represented, practically, ex officio, in the Romanian Chamber of Deputies. UDMR, the main political party of the Hungarian minority, the most numerous in the country, has been present without interruption, since 1990, in post-communist Romania’s Parliament. As of 1996, UDMR has been part of numerous coalition governments in Bucharest, whether right-wing or left-wing. (LS)

     

  • August 31, 2024 UPDATE

    August 31, 2024 UPDATE

     

    LANGUAGE The Romanian Language Day was celebrated on Saturday both in Romania and in the R. of Moldova, where this holiday was first introduced, to mark a return to the Romanian language and Latin alphabet in the former Soviet Republic. Special events were held on both sides of the river Prut. In a message posted on this occasion, president Klaus Iohannis said the Romanian language is not just a set of words, but a means to pass on the cultural heritage and an invaluable heritage we are leaving for the future generations to cherish and enrich. As Mr. Iohannis emphasised, since last year the Romanian language has also been the official language of Moldova, after a law was promulgated by president Maia Sandu, replacing the phrase “Moldovan language” with the phrase “Romanian language.” This has been essential to restoring a historic fact, namely that Romanians living on both sides of the river Prut share a common language, culture and history, Iohannis said. According to him, Romanian is studied in 59 universities in 37 countries in the world. Public reading sessions, art exhibitions, film screenings, music recitals are organised by Romanian cultural institutes around the world to mark the Romanian Language Day.

     

    VISIT The president of Romania, Klaus Iohannis, Saturday was on an official visit to the Republic of Moldova, for talks with his counterpart Maia Sandu. On this occasion, the two officials signed a Joint Declaration on bilateral cooperation to consolidate the resilience of the Republic of Moldova, which has received consistent support from Romania so far to withstand the many challenges it has been facing. According to Iohannis, the hybrid war waged against the Republic of Moldova and its citizens is growing more intense and taking ever more severe forms. He emphasized that Romania’s strategic commitment to supporting the democratic development of Moldova would remain unwavering in the long run, and called on all international partners to provide consistent support in its EU accession efforts. In turn, Maia Sandu said Romania played a vital part in consolidating her country’s energy independence, and also highlighted Bucharest’s support in the EU accession process. The Romanian president’s visit to Chişinău took place as Romania and Moldova celebrated the Romanian Language Day on August 31.

     

    RATING Fitch Rating Friday reconfirmed Romania’s long- and short-term foreign-currency government debt rating at BBB-/F3 with a stable outlook, the finance ministry reports. According to the institution, the decision is supported by the capital inflow from the European Union, which sustains the country’s income convergence, foreign financing and macroeconomic stability, as well as a positive trend in the GDP per capita and in governance and human development indices, which are above ‘BBB’ category peers. The international institution’s decision reconfirms the confidence in the measures taken by the Romanian government to ensure public funding sustainability, the finance minister Marcel Boloş said. On the other hand, these strengths are balanced against large budget and current account deficits relative to peers, high budget rigidities, and a fairly high net external debtor position. The agency expects Romania’s economy to grow by 2.5% this year.

     

    PENSIONS A bill on raising the pension tax threshold in Romania from EUR 400 at present to EUR 600 is to be endorsed next week in the Chamber of Deputies, the decision-making body in this respect, the culture minister Raluca Turcan announced. She said the measure had been promoted since 2022 by the National Liberal Party, and that after its endorsement in Parliament it would take effect on October 1. The ruling coalition comprising the Social Democratic Party and the National Liberal Party decided a few days ago that the new bill should be rushed through Parliament, instead of being endorsed by the government under an emergency order.

     

    LAW The legislation regarding extended restraining orders took effect in Romania on Saturday. The goal is to protect all victims, irrespective of their relations with the abuser. The justice minister, Alina Ghorghiu, says that previously, restraining orders were only issued for cases of domestic violence, but the new legislation also includes psychological abuse. She encouraged all victims to seek protection and to report abuse cases, regardless of the form of abuse and of who the abuser is. In this context, the Romanian justice ministry has initiated an awareness raising campaign called “Living in fear is not living.” In 2023, nearly 80,000 cases of domestic violence were reported to the police, and in over 30,000 cases the victims were women. (AMP)

  • August 31, 2024

    August 31, 2024

     

    LANGUAGE The Romanian Language Day is celebrated today both in Romania and in the R. of Moldova, where this holiday was first introduced, to mark a return to the Romanian language and Latin alphabet in the former Soviet Republic. Special events are held on both sides of the river Prut. In a message posted on this occasion, president Klaus Iohannis said the Romanian language is not just a set of words, but a means to pass on an invaluable cultural heritage that we are leaving for the future generations to cherish and enrich. As Mr. Iohannis emphasised, since last year the Romanian language has also been the official language of Moldova, after a law was promulgated by president Maia Sandu, replacing the phrase “Moldovan language” with the phrase “Romanian language.” This has been essential to restoring a historic fact, namely that Romanians living on both sides of the river Prut share a common language, culture and history, Iohannis said. According to him, Romanian is studied in 59 universities in 37 countries in the world. Public reading sessions, art exhibitions, film screenings, music recitals are organised by Romanian cultural institutes around the world to mark the Romanian Language Day.

     

    VISIT The president of Romania, Klaus Iohannis, and the president of Moldova, Maia Sandu, signed in Chişinău on Saturday a joint declaration on bilateral cooperation to consolidate resilience in the Republic of Moldova. The document defines and strengthens bilateral cooperation in this critical area for consolidating and safeguarding democracy and stability in the neighbouring state. President Maia Sandu said Romania had invested massively in the development of Moldova and remained the staunchest supporter of its EU accession efforts at international level. In turn, Klaus Iohannis promised that Bucharest’s commitment to supporting Chisinau in any crisis, including in the energy sector, is firmer than ever. According to Iohannis, the hybrid war waged against the Republic of Moldova and its citizens is growing more intense and taking ever more severe forms. Romania will be the most reliable and active supporter of Moldova’s EU accession efforts, and I encourage all international partners to provide consistent and long-term support to this country and its citizens, Iohannis added. His visit to Chişinău took takes place as Romania and Moldova celebrate the Romanian Language Day on August 31.

     

    RATING Fitch Rating Friday reconfirmed Romania’s long- and short-term foreign-currency government debt rating at BBB-/F3 with a stable outlook, the finance ministry reports. According to the institution, the decision is supported by the capital inflow from the European Union, which sustains the country’s income convergence, foreign financing and macroeconomic stability, as well as a positive trend in the GDP per capita and in governance and human development indices, which are above ‘BBB’ category peers. The international institution’s decision reconfirms the confidence in the measures taken by the Romanian government to ensure public funding sustainability, the finance minister Marcel Boloş said. On the other hand, these strengths are balanced against large budget and current account deficits relative to peers, high budget rigidities, and a fairly high net external debtor position. The agency expects Romania’s economy to grow by 2.5% this year.

     

    ENESCU As of today, the Romanian Athenaeum in Bucharest is hosting the 19th edition of the George Enescu International Competition, one of the best known and most prestigious competitions in international classical music. Until September 27, some of the world’s best performers, as well as up-and-coming artists and orchestras, will come together in Bucharest. Three competitions are held: cello, violin and piano. The novelty of the 2024 edition are the master classes. Held between September 23 and 27, they consist in conducting, violin, piano and cello workshops, coordinated by Maestro Cristian Măcelaru. The world-acclaimed Romanian artist is, among other things, the musical director of the National Orchestra of France, and of the Cincinnati Symphonic Orchestra. The opening concert, the 3 competition finals, 5 recitals given by jury members and by winners of previous editions, as well as the closing concert, will be aired live by Radio Romania Music. At the suggestion of Radio Romania Music, the 2024 George Enescu International Competition’s opening concert is included in the Euroradio Summer Season, one of the most important projects of the European Broadcasting Union, which airs concerts and recitals from the most important European festivals. The George Enescu International Competition was launched in September 1958. Alternating with the George Enescu International Festival, the Competition quickly grew into one of the most valuable events of this kind in Europe, and since 2002 it has been a member of the World Federation of International Music Competitions. (AMP)

  • Romania and international rating agencies

    Romania and international rating agencies

     

    The Romanian finance minister Marcel Boloş, who took part in Washington in the spring meetings of the International Monetary Fund and the World Bank, had talks with officials for the S&P and Moody’s rating agencies, which monitor fiscal and budgetary parameters around the world.

     

    The talks concerned Romania’s economic characteristics and the strategies to ensure macroeconomic stability.

     

    The agencies have reconfirmed our sovereign rating and stable outlook, but this does not mean there is no room for growth, minister Boloş posted on Facebook after the meetings. He mentioned that foreign investors tend to prefer countries with high ratings, because they view them as more stable.

     

    A good rating, Marcel Boloş insisted, facilitates access to funding in international capital markets for lower costs. Essentially, a country with a high rating is often regarded as a more viable and stable business partner, the finance minister also explained on his Facebook page.

     

    Boloş reiterated that, in order to improve economic competitiveness and to create an environment that encourages sustainable investments, measures are taken into account, such as fiscal consolidation, increased investments in infrastructure and education, encouraging private investments and promoting efficient and transparent economic government.

     

    On April 12, S&P reconfirmed Romania’s BBB-/A3 rating for long and short-term foreign currency governmental debt, as well as the stable outlook. According to the finance ministry, the decision to reconfirm the sovereign rating and the stable outlook relies on the moderate foreign governmental debt level and on the sound prospects for growth in the next two years. S&P also expects Romania’s commitments under the EU Recovery and Resilience Mechanism to continue to work as an anchor for Bucharest’s political reforms.

     

    In early November 2023, Moody’s also confirmed the ‘Baa3’ long-term rating and stable outlook for Romania. According to the agency, this was based on Romania’s robust medium-term growth prospects, supported by sound inflows of EU funding and foreign direct investments.

     

    The reconfirmed rating also reflects the debt burden and debt affordability indicators. These remain sounder than for other countries with similar ratings, although both are likely to gradually deteriorate in the coming years, due to the still high budget deficit and to growing interest costs.

     

    These positive developments are offset by weak institutional quality and susceptibility to geopolitical and foreign risks, Moody’s warned.

     

    Romania has an investment-grade rating from both international agencies. (AMP)

  • April 20, 2024

    April 20, 2024

    PLANES Three F-16 jet fighters Romania bought from Norway landed at the Air Base 71 in Campia Turzii, central Romania on Friday. This has been the second batch of these multi-role fighters Romania bought from Norway; the first batch arrived in November, last year. According to the National Defence Ministry, the 32 F-16s Romania is going to receive by the end of next year are meant to consolidate the country’s air defence adjusted to the regional security challenges. They are going to play a major role in keeping an allied posture of defence and deterrence on the eastern flank and will ensure transition towards the fifth generation, the F-35 planes Romania is going to get, as minister Angel Tilvar says. The Romanian air forces now boast 20 F-16 jet fighters.

     

    RATING In the past year agencies have reconfirmed Romania’s sovereign rating and stable prospect, but there is room for improvement, such as the lower-cost access to funding on international capital markets and for attracting foreign investment – the country’s Finance Minister Marcel Bolos says in a Facebook post. During a working visit he paid to Washington, the Romanian official held talks with representatives of famous rating agencies, such as Standard&Poor’s and Moody’s on Romania’s economic particularities and the strategies aimed at ensuring macro-economic stability. Bolos also attended the spring proceedings of the International Monetary Fund and the World Bank. According to Bolos, in order to raise economic competitiveness and create an appropriate environment for durable investment, Bucharest is focusing on fiscal consolidation, on raising investment in infrastructure and education, on boosting private investment and the promotion of an effective and transparent economic governance.

     

    HOLIDAY The Romanian Black Sea resorts are stepping up preparations for the upcoming mini-holiday on May 1st and the Orthodox Easter, to be celebrated on May 5th and which actually opens the summer holiday season in Romania. Owners of hotels, restaurants and guest houses in the region are expecting a large number of tourists as many rooms have already been booked. According to Corina Martin, secretary general of the Federation of Employers’ Associations, over 80 thousand people are expected to spend the mini-holiday in the aforementioned seaside resorts. The largest number of tourists is expected in the resort of Mamaia. Between May 1st and 7th the resort will be hosting the International Electronic Music Festival, Sunwaves, which is expected to bring together roughly 6 thousand of tourists from abroad, a gastronomic festival and outdoor concerts given by Romania’s top artists.

     

    WEATHER The weather is getting warmer in Romania with highs between 13 and 19 degrees Celsius and a noon reading in Bucharest of 13 degrees. The sky is overcast and rainshowers are expected in the south-east, in the south, center and to a lower extent in the rest of the territory. Heavy downpours have been forecast for certain regions in the country’s south-east whereas mixed precipitations are going to fall in the mountains. Snowfalls are expected at altitudes over 15 hundred meters. The wind is moderate but expected to intensify in the country’s south-eastern regions including the Black Sea coast.

     

    VISIT Over April 22 and 24, Romanian president Klaus Iohannis will be paying a formal visit to the Republic of Korea, upon the invitation of his counterpart Yoon Suk Yeol. The Republic of Korea is the first country in the Asia-Pacific area with which Romania raised its relations at the level of strategic partnership in 2008. On the occasion of Iohannis’ upcoming visit to Seoul, this partnership will be consolidated through a document, which sets the cooperation directions for the next 10 years. Relevant documents are expected to be signed in the field of defence, nuclear energy, investment and foreign trade, cooperation in emergency situations and disaster management, cooperation in the field of culture, mass-media, youth and sports. In the Republic of Korea, the Romanian president will be meeting representatives of the Romanian community and business environment and will be visiting an exhibition of Romanian traditional art.

    (bill)

  • Trade balance deficit on a downward trend

    Trade balance deficit on a downward trend

    Traditionally an importer, post-communist Romanias economy buys more than it sells, and the trade balance deficit is a chronic issue. The first seven months of 2023 promise, however, slight corrections. In this interval, the deficit stood at 15.6 billion Euros, 17% lower than the same period last year, show data published by the National Institute of Statistics. Romanias exports totaled 55 billion Euros, 4.6% higher than in the same period of the previous year. At the same time, between January 1 and July 31, 2023, Romania imported goods worth 70 billion Euros, down by 1.1% as compared to the similar period of 2022. Important shares in the structure of commercial exchanges are held by cars and transport equipment (44.8% for export and 36.3% for import) and by other manufactured products (30.3% for export and 29.2% for import).



    The Romanian economy remains strongly anchored in the trade flows of the European Union. The value of intra-EU27 goods exchanges in the first seven months of 2023 was over 40 billion Euros for exports and 52 billion for imports, accounting for 72.8% of the total exports and 73.6% of the total imports. The value of extra-EU27 exchanges was almost 15 billion Euros for exports and over 18 billion for imports, accounting for 27.2% of the total exports and 26.4% of the total imports. A few days ago, the Fitch rating agency reconfirmed Romanias sovereign rating at BBB minus, with a stable outlook. The decision is supported by capital flows from the European Union, which support investments and the country’s macroeconomic stability, as well as by the positive evolution of the GDP per capita and indicators of governance and human development, which are at higher levels as compared with other countries from the same rating group. According to Fitch, the Romanian economy will register a 2.9% growth this year and 3.2% next year.



    The Finance Minister, Marcel Boloş, wrote on his Facebook page that the Fitch Agencys decision to reconfirm Romanias sovereign rating is a strong signal that the country is on the right track and is regarded with confidence by international investors. Experts argue, however, that Romanias rating could be improved, if the authorities manage to reduce the budget deficit and the public debt in the medium term. The international economic press writes that Romania now wants to raise approximately three billion Euros from the international markets, through the third sale of bonds this year. The Romanian government exceeds its loan target, in the context in which, it will most likely need more funds to finance a larger budget deficit, the foreign experts conclude. (LS)

  • September 9, 2023 UPDATE

    September 9, 2023 UPDATE

    Drone. The identification by the
    Romanian authorities on the Romanian territory, near the border with Ukraine,
    of new drone parts similar to those used by the Russian army indicates that an
    absolutely unacceptable violation has taken place of the sovereign air space of
    NATO member Romania, posing real risks to the security of Romanian citizens
    living in the area, said president Klaus Iohannis on Saturday. He again firmly
    condemned Russia’s repeated strikes against Ukraine’s population and civilian
    infrastructure, including against Ukraine’s Danube river ports, near the border
    with Romania. He also said he spoke over the phone on Saturday with NATO
    secretary general Jens Stoltenberg, briefing him on the latest developments,
    with the latter reiterating full solidarity with Romania. Stoltenberg posted
    on social media that there is no indication of Russian intent to hit NATO, but the
    strikes are destabilising. The defence ministry in Bucharest announced
    that parts of a drone
    similar to those used by the Russian army were found on Saturday by Romanian
    Navy military in Tulcea county, near the border with Ukraine. These attacks
    are unjustified and gravely at odds with the rules of international
    humanitarian law, being tantamount to war crimes, the defence ministry has
    emphasised.




    Finance.
    Fitch rating agency affirmed Romania’s government debt rating at BBB-/F3 for
    the long and short term hard currency debt and a stable outlook, said the finance
    ministry. According to the agency, the decision is supported by the country’s
    EU member status and the positive evolution of its GDP per capita. It also
    highlights Romania’s stable public debt and the downward trend of the inflation
    rate. Fitch also expects Romania’s economy to see a 2.9% growth rate this year
    and 3.2% next year, as the country will benefit from considerable European
    funds, both as part of the 2021-2027 multiannual financial framework and the
    Recovery and Resilience Mechanism. The agency’s decision to affirm Romania
    sovereign debt rating and maintain its stable outlook are, according to finance
    minister Marcel Boloş, a strong signal that the country is on the right track
    and that we have the trust of international investors and partners. The
    announcement recognises our continued efforts to keep the budget deficit in
    check, support business and promote sustainable economic development, Boloş
    also said.






    Earthquake. The Romanian authorities
    are in close contact with the Moroccan authorities and are ready to provide
    assistance, said prime minister Marcel Ciolacu. Thousands of people were killed
    and injured in a strong quake that hit Morocco on Friday night, causing huge
    damage and wreaking panic in Marrakesh, a popular tourist destination, as well
    as in other cities. The quake measured 6.8 on the Richter scale. Sad about the
    disaster in Morocco. Our thoughts go out to the families of those who lost
    their lives in this tragedy. We wish the injured a speedy recovery, Romanian
    president Klaus Iohannis posted on social media. The quake triggered a wave of
    solidarity around the world, with many countries, including Israel, offering to
    help the Moroccan authorities. Algeria offered to open air space, closed since September
    2021, to allow humanitarian flights.






    Rowing.
    Romania won three medals in Satruday’s finals at the World Rowing Championships
    in Belgrade: silver in the women’s four and bronze in the women’s pair and the
    women’s lightweight double sculls. Romanian rowers will compete on Sunday in
    three more finals: women’s double sculls, men’s eight and women’s eight. Last
    year, Romania won four medals at the World Rowing Championships in Racice, in
    the Czech Republic. (CM)

  • Nachrichten 08.10.2022

    Nachrichten 08.10.2022


    – Die ukrainischen Behörden haben zwei Friedhöfe in der östlichen Stadt Liman entdeckt. Liman, eine Stadt in der Region Donezk, wurde vor einer Woche von der Kontrolle der russischen Streitkräfte befreit. Nach Angaben der BBC sagte der Gouverneur der Region, Pavlo Kirilenko, dass sich in einem der Friedhöfe etwa zweihundert Gräber befinden, in denen vermutlich Zivilisten begraben seien. Das andere ist ein Massengrab, in dem sowohl Zivilisten als auch Soldaten begraben sein können. Die Behörden leiteten eine Untersuchung ein. Die Ukraine beschuldigte Russland wiederholt der Kriegsverbrechen gegen die Zivilbevölkerung in den besetzten Gebieten. Andererseits gab der Bürgermeister der ukrainischen Stadt Charkow bekannt, dass heute Morgen mehrere Raketenangriffe stattgefunden haben. Charkow war zu Beginn des Krieges Ziel anhaltender Artillerieangriffe. Die jüngste ukrainische Gegenoffensive hat die russischen Streitkräfte aus der Reichweite der Artillerieangriffe verdrängt. Die ukrainische Armee hat bei ihrer jüngsten Gegenoffensive Ende September fast 2.500 Quadratkilometer des von den russischen Streitkräften kontrollierten Gebiets befreit, erklärte Präsident Volodymyr Selenskyj.




    – Die Ratingagentur Fitch bestätigte das Rating für Rumänien auf BBB minus“ mit negativem Ausblick. Die EU-Mitgliedschaft und die Kapitalströme, die Investitionen und makroökonomische Stabilität sowie die Indikatoren für das Pro-Kopf-BIP untermauern das Rating. Dem stehen jedoch im Vergleich zu anderen Ländern höhere Haushalts- und Leistungsbilanzdefizite, eine schwache Haushaltskonsolidierung und hohe Haushaltsrigiditäten sowie eine relativ hohe Nettoauslandsverschuldung gegenüber, so die Fitch. Die Agentur geht davon aus, dass das Haushaltsdefizit im Jahr 2022 auf 6,4 % des BIP zurückgeht. Laut Fitch wird die Wirtschaft bis 2022 um 6,2 % wachsen, eine der höchsten Wachstumsraten in der EU.




    – Präsident Klaus Iohannis bekräftigte am Freitag in Prag die Position Rumäniens zur Unabhängigkeit, territorialen Integrität und Souveränität der Ukraine. Rumänien wird seine ständige Unterstützung auf mehreren Ebenen fortsetzen, u. a. bei der Vorbereitung auf den Winter im Kontext der neuen Eskalationen, die von der Russischen Föderation ausgehen. Der Staatschef nahm an der informellen Tagung des Europäischen Rates in der tschechischen Hauptstadt teil. Angesichts der anhaltend hohen Energiepreise forderte Klaus Iohannis die Entkopplung der Strompreise von den Gaspreisen. Die wichtigsten Themen auf der Tagesordnung des Europäischen Rates waren die Lage in der Ukraine, die Entwicklungen im Energiebereich und die Bemühungen zur Gewährleistung der Versorgungssicherheit sowie die wirtschaftliche Lage in Europa. In Bezug auf die Ukraine lehnten die europäischen Staats- und Regierungschefs die illegale Annexion der ukrainischen Regionen Donezk, Luhansk, Saporoschje und Cherson durch Russland nach der Abhaltung fingierten Referenden entschieden ab und verurteilten sie unmissverständlich.




    – Die Generalinspektion der Grenzpolizei berichtet, dass am Freitag mehr als 8.000 ukrainische Staatsbürgerinnen und Bürger über die Grenzübergänge nach Rumänien eingereist sind. Vom 10. Februar 2022 (Vorkonfliktzeit) bis Freitag sind mehr als 2,5 Millionen ukrainische Staatsangehörige nach Rumänien eingereist. Die meisten von ihnen befanden sich auf der Durchreise.




    – Mehr als 340 Kurz- und Langspielfilme werden bis zum 16. Oktober in Bukarest im Rahmen des 17. Internationalen Animationsfilmfestivals Animest gezeigt. Die Liste der Filme, die auf dem Festival gespielt werden, umfasst auch Titel, die im vergangenen Jahr in der gesamten Branche Aufmerksamkeit erregten und sich in den Wettbewerben der gro‎ßen internationalen Filmveranstaltungen hervorgetan haben.


  • Romania – stable economic outlook

    Romania – stable economic outlook

    International rating agency Standard & Poors reconfirmed Romanias sovereign rating at BBB- for the long and short term debts in local and hard currency, as well as its stable outlook. Romanias rating is underpinned by its status as a member of the European Union and robust access to funding from international capital markets. Also, the risks generated by the conflict in Ukraine are attenuated by the prospect of absorbing a significant amount of EU funds under the EU Multiannual Financial Framework and the Recovery and Resilience Facility and the countrys low energy dependence on imports of natural gas and oil from Russia. The report of Standard & Poors comes one week after another major rating agency, Fitch Ratings, affirmed Romanias sovereign rating to BBB- with negative outlook, the lowest investment grade rating.



    The government in Bucharest is taking efficient measures to counteract the effects of the energy crisis and the war in Ukraine, said the finance minister Adrian Câciu in response to the assessment of rating agencies. He added that according to Standard & Poors, sustainable economic growth together with a reduction in the governments fiscal deficit may lead to a consolidation of the productive capacity of the Romanian economy and, implicitly, to an improvement of the countrys sovereign rating. The sign of trust sent by the government to investors is reconfirmed by the recent evaluations of Standard & Poors and Fitch Ratings, the government said in a statement on Saturday. Romania is safe for investment and it provides stability and opportunities – this is the message the government says it has constantly conveyed to the business community throughout this complicated period, a message now confirmed by international financial institutions.



    The prospect of growth is underpinned by the unprecedented access to national and European funds pumped into the countrys economy in all strategic areas, industry, agriculture, energy, the environment and digitalisation, as well as by the governments development policies, the government also said in its statement. It also notes that its economic and social package entitled “Support for Romania” and worth some 3.4 billion euros, 60% of which for investments, adds to the tens of billions of euros of national and European funds aimed at the Romanian economy. The government says it has begun to implement this combination of economic and social measures and will continue to work at the same pace, emphasising that a dynamic economy is the safest path to development, new and better paid jobs and quality public services for the people. (CM)