Govnet

Political turbulence might affect Romania’s economic development

The political instability through which Romania is going after the resignation of the Ponta cabinet might affect it economically. The governor of Romania's National Bank Mugur Isarescu stressed that the current macroeconomic situation is stable but is being monitored, and, the country's general position is a good one. Even so, he insisted on the caution which...

Economics

Romania second among top 50 countries with fastest growing technology companies

According to Delloite CE Technoogy Fast 50, a ranking based on the incomes of local IT companies within the last four years, Romania is the second among countries that have very dynamic IT companies.

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Economics

Industrial production prices fall

Romania's National Statistics Institute observed that industrial production prices have been falling compared to August 2015 as well as September 2014

Economics

Romanian Government approves new public procurement legislation

On October 27^th, the Government of Romania approved a new legislation package regarding public procurement with the hope of making such endeavors easier and more transparent.

Economics

Romania's National Prognosis Commission anticipates growth in the industry sector

The Commission's recent fall report shows its optimistic views for the industry sector starting 2016. Data shows that 2015 was not a very good year for this particular sector. The report demonstrates a 3 percent growth per year in 2015, whereas in 2014 the rate was 3,6 percent.

According to IRSOP and SNSPA's Industrial Barometer also reflects these issues, as “company managers reported a decrease in the volume of export orders and also prime matter imports, while the stocks remain diminished”.

Economics

IMF representatives express concern over the new Romanian Tax Code

Economics

PM Ponta asks Competition Council for help after June 1 when VAT is cut on foodstuffs

Prime Minister Victor Ponta said that he also counts on the Competition Council for support, within its legal limits, for a correct implementation of the cuts in the Value Added-Tax (VAT) for food as from June 1. 'I want you to please help us after June 1, after one, two or three months of the implementation of the competition and market rules after the VAT is cut on all agri-food products.

Economics

Public lighting in Romania: between non-electrified communities and connected lighting

Romania is undoubtedly a country of contrasts and the lighting sector does not make an exception. While Romania “spread” the light across Europe with the first street lighting system in Timisoara in 1884, 131 years later, there are still non-electrified areas in the country.