November 17, 2022 UPDATE

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Newsroom, 17.11.2022, 20:00

BUDGET The
government of Romania Thursday approved this year’s second public budget
adjustment, with an approx. EUR 104 million increase
in revenues and a similar increase in
expenditure. According to the government, the budget adjustment covers
compulsory spending, operating expenses and social assistance expenses. Funds
have also been rechanneled for implementing programmes with an impact on the economy
and which support households and companies. Financing is also ensured for the
state aid provided to the farmers whose crops were affected by drought this
year. According to the autumn macroeconomic forecast on which the adjustment is
based, the government’s news release also reads, Romania’s GDP is expected to
reach RON 1,396.2 bln in 2022 (as compared to RON 1,372.5 bln taken into
account in the first budget adjustment).

INFLATION The annual inflation in the EU continued to grow in October
to reach 11.5%, as against 10.9% in September. The member states with the
highest rates are Estonia (22.5%), Lithuania (22.1%), Hungary (21.9%) and
Latvia (21.7%), according to data made public on Thursday by the Eurostat.
Compared to September, the annual inflation rate dropped in 11 member countries,
remained stable in 3 countries and went up in 13 member states, including in
Romania (from 13.4% to 13.5%). As many as 18 member countries, Romania
included, reported for September an annual inflation rate above 10%. The member
states with the lowest inflation rates in September were France (7.1%) and
Spain (7.3%). In October 2021, the year-on-year inflation rate in the European
Union was 4.4%, and in Romania it was 6.5%. In Romania, the National Statistics
Institute had previously announced that the year-on-year inflation dropped this
October to 15.32%, from 15.88% in September, with a 20.58% rise in foodstuff
prices, non-food prices going up 14.37%, and service prices 8.31% more expensive.
Just days ago, the National Bank of Romania also released its quarterly
inflation report, according to which the rate is expected to reach 16.3% by the
end of this year and 11.2% next year.

DIPLOMACY The Romanian foreign minister Bogdan Aurescu
Thursday had talks with his counterpart, Jean Asselborn, during his visit to
the Grand Duchy of Luxembourg. The two officials discussed Romania’s Schengen
accession and the security situation at the Black Sea. Bogdan Aurescu also
mentioned, in a joint press conference, the importance of the Republic of
Moldova’s European accession, and said on Monday he would co-chair the third
Support Platform for the Republic of Moldova, in Paris, together with his
French and German counterparts. The Romanian official also thanked Luxembourg
for its plans to deploy a 25-troop unit as part of the NATO Battle Group in
Romania. The decision is pending the approval of Luxembourg’s parliament.

MILITARY A second shipment of French military equipment, specifically Leclerc tanks,
reached Braşov County (central Romania). The equipment is intended to strengthen
the NATO Battle Group (Battle Group Forward Presence-BGFP) stationed in Cincu,
the Romanian ministry of defence (MApN) said. A first convoy of French military
equipment, consisting in armoured vehicles, arrived in Romania on October 23.

ASSESSMENT A mixed team of experts from the European Commission and some member
states, including the Netherlands, will be in Romania this week to assess the
country’s readiness for Schengen accession. According to the Bucharest
government, the visit is voluntary, similar to the one that took place between
October 9 and 11. On Wednesday, the European Commission requested that Romania,
Bulgaria and Croatia be part of the Schengen Area without
delay. The EC points out that Romania has a solid and high-quality border
management and is involved in international cooperation in border police
matters.

HANDBALL Two Romanian players, Cristina Neagu and Crina Pintea, were
nominated for the all-star team of the European Women’s Handball Championship
hosted by North Macedonia, Montenegro and Slovenia and due to conclude this
Sunday. According to the EHF website, Cristina Neagu is nominated for the left
back position, and Crina Pintea for line player. Neagu announced on Thursday that
the EHF Euro 2022 was the last in her career, and that it had not ended as she
had dreamt, after Romania finished only 12th. With 303 goals, Cristina
Neagu is at the top of the combined all-time goal scorers’ list for Women’s and
Men’s EHF EURO events. Romania has taken part in all the EHF Euro editions so
far, with one exception (2006), and its best performance was a bronze medal in 2010. (AMP)