By Edwig Ban

The construction of the project budget for 2017 is based on an economic growth of 5.2%, a budget deficit (cash) estimated at 2.96% of GDP and average annual inflation of 1.4%, according to the report on the macroeconomic situation 2017 and the projection for the years 2018-2020, published Monday on the website of the Ministry of Finance.

According to the document, gross domestic product (GDP) for 2017 is estimated at 815.195 billion lei revenues to the general consolidated budget to 254.717 billion lei (31.2% share of GDP) and expenditures ... Read more »

| 23 January 2017 |

By Edwig Ban

Last Friday, the Romanian Minister of Foreign Affairs, Teodor Melescanu, had a meeting with the U.S. Ambassador to Bucharest, Hans Klemm.

The meeting was not a courtesy, as he tried to show the American diplomatic mission in Bucharest, but was focused on the attitude manifested by the American ambassador in Bucharest. Often defiant attitude against the Romanian authorities, especially to programs and projects of modernization of the Romanian state on their own.

It is worth mentioning that since it is in Bucharest, from September 2015 ... Read more »

| 21 January 2017 |

By Constantin Radut

A press release from the Romanian-German Chamber of Commerce and Industry-AHK Romania brings to the fore an issue that seems to concern more the foreign investors in our country.

AHK Romania communiqué points out that the for German economy, Romania is a strategic economic partner. Bilateral economic relations have continued to grow in 2016. The trade was over 24 bln. EUR in the first 11 months of 2016 (+ 13%). The share of bilateral tr ... Read more »

| 20 January 2017 |

* 13 global industry leaders join together in promoting hydrogen to help meet climate goals


By rbj

Thirteen leading energy, transport and industry companies have launched a global initiative to voice a united vision and long-term ambition for hydrogen to foster the energy transition.

According to website, in the first global initiative of its kind, the ‘Hydrogen Council’ ... Read more »

| 19 January 2017 |

By rbj

The United Nations World Food Programme (WFP) has honoured Ajay Banga, President and Chief Executive Officer of Mastercard, in recognition of outstanding contributions towards achieving Zero Hunger.

The 2017 Hunger Hero Award was presented to him by WFP Executive Director Ertharin Cousin on Tuesday at WFP’s annual dinner at the World Economic Forum annual meeting in Davos, Switzerland.

In the past five years, Mastercard and WFP have collaborated on an ambitious mission: ending hunger. As technology has the power to unlock innovation in food a ... Read more »

| 19 January 2017 |

*We wish a pleasant and useful visit for Reza Baqir, the head of the IMF mission to Romania


By Constantin Radut

In the new political context in Bucharest, a mission of the International Monetary Fund is present in Romania to meet new governmental partners. The sources close of the mission shows that the IMF wants to inform regarding economic and financial policies of the new government. The most important point of discussion will be the impact that it measures revenue gro ... Read more »

| 16 January 2017 |

By Constantin Radut

Extraordinary General Meeting of Shareholders (EGM) of the Sibiu Stock Exchange SIBEX decided Monday the merger by absorption with the Bucharest Stock Exchange (BVB). The decision was taken unanimously, according to a report Sibiu Stock Exchange.

In this way disappears the existence of an anomaly in the securities market in Romania. A relatively small market with two floors scholarship compete in two cities.

"To approve in principle the merger with the Bucharest Stock E ... Read more »

| 10 January 2017 |

By rbj

The government approved on Friday amendments to Romania’s Fiscal Code, changing the taxation regime for microenterprises and offering certain fiscal facilities for companies that are focusing on research & development (R&D) activities.

According to the Emergency Government Ordinance rolled out today, the firms that are focusing exclusively on innovation and R&D will be exempted from the payment of the profit tax.

The government has also decided to hike from EUR 100,000 to EUR 500,000 the turnover limit unde ... Read more »

| 08 January 2017 |

By rbj

The Government approved, on Friday, the raising of the minimum wage to 1,450 RON monthly (approximately 320 euro), starting with February 1, for a full work schedule of 166 work hours on average monthly, representing 8,735 RON per hour. "Thus, the value of the minimum wage is increased by 16 percent as compared to the end of 2016, namely from 1,250 RON to 1,450 RON," a release of the Executive remitted to AGERPRE ... Read more »

| 06 January 2017 |

* The Finance Minister proposes to reduce the standard VAT rate to 18% from 1 January 2018 * It will extend the zero rate of VAT for sale of housing * Will lower VAT rate from 9% to 0 for inputs in agriculture and quota 0 VAT activities advertising * The flat tax will drop from 16% to 10% from 1 January 2018

By Constantin Radut

The new government installed in Bucharest proposes major restructuring in all the field they will manage. The particular attention is paid to creating a friendly bu ... Read more »

| 04 January 2017 |

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The Romanian Business Journal
Constantin Radut
Editor in Chief
031726 Bucharest, Romania

+40 725 511 887