November 8, 2017

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Newsroom, 08.11.2017, 13:35

AMENDMENTS – The Romanian Government is today expected to adopt a series of amendments to the Fiscal Code, providing, among other things, for the full transfer of social contributions from employers to employees, a cut from 16 to 10% in the tax on income, pensions, farming-related revenues, interest rates and rent. The Governments economic session has been so far postponed twice. The ruling coalition pointed out the new measures are bound to produce positive effects, amidst fears voiced by employers, trade unions and part of civil society. The biggest trade union confederations have announced protests would continue at national level. On Sunday some 20,000 people protested the Governments measures, while yesterday saw a big protest at Dacias manufacturing plant in Mioveni, southern Romania. The new fiscal measures have been harshly criticized by the president and the right-wing opposition.

NATO – Romanias Defense Minister Mihai Fifor is starting today taking part in a two-day meeting of NATO Defense Ministers. According to Mihai Fifor, the meeting represents a new opportunity for Romania to foster its security interests in the Black Sea region and consolidate the Alliances contribution to securing its eastern flank. The main topics on the agenda for talks are the reform of NATOs command structure, the mobility of NATO troops deployed in Europe, the developments in Afghanistan, as well as North Koreas missile and nuclear programmes. Mihai Fifor will also attend the Anti-DAESH Global Coalition meeting, held on the sidelines of the NATO meeting. He will meet with US Defense Secretary James Mattis and counterparts from Great Britain, France, Portugal, Turkey and Italy, as well as with General Curtis M. Scaparrotti, Supreme Allied Commander Europe.

EBRD – Romanias economy could report a 5.3% economic growth, which is estimated to go down to 4.2% in 2018, reads the latest forecast issued by the European Bank for Reconstruction and Development (EBRD). Previous estimates pointed to a 4% growth for 2017 and 3.5% for 2018. The National Forecast Committee last week also revised its economic growth forecast to 6.1% in 2017 as compared to the previous estimate of 5.6%. In October the IMF upgraded its economic growth forecast for Romania from 4.2% to 5.5%.

THE KING – King Mihai I of Romania is in grave condition at his house in Switzerland, which is why no event will be held to mark his name day on the feast day of Saint Archangels Michael and Gabriel. On Tuesday Mihai was administered the Holy Eucharist, after on Monday the Royal House announced his condition had taken a turn for the worse. Aged 96, the King is suffering from two forms of cancer. Ascended to the throne in 1940, Mihai I was forced to step down and go into exile in 1947 by the new communist authorities. Mihai I returned to Romania only after the anti-communist revolution of 1989, when he regained Romanian citizenship and part of the estates seized by communist authorities.

ENERGY – Romania has stepped up its negotiations with China with a view to building reactors 3 and 4 at the Cernavoda nuclear power plant and a new black coal unit at the Rovinari thermal power plant, Energy Minister Toma Petcu said on the sidelines of a ministerial conference held in Bucharest, attended by a Chinese delegation. In turn, Foreign Minister Teodor Melescanu expressed Romanias interest to taking part in projects fostered as part of the new “Silk Road project in China. Melescanu highlighted Romanias strengths in this respect, its geographic position and its transport facilities, the port of Constanta, the Danube and the Danube-Black Sea canal.

THE POPE – Pope Francis today accepted an invitation to become honorary member of the Romanian Academy, extended by an official delegation of the Academy at the Vatican today. The Pope accepted the distinction, underlying his “friendly relations with Romania. The award will be sent to the Holy See by the Apostolic Nunciature in Bucharest. Pope Francis is the second pope to be named honorary member of the Romanian Academy after John Paul II, who became a member in 2001.

EUROSTAT – 25.8% of Romanias population was employed in agriculture in 2015, placing the country on the top position at EU level, against a community average of 4.4%, reads the latest report made public by Eurostat. In 2015 some 10 million EU citizens worked in agriculture, of which 7.5 in Romania, Poland, Italy, France, Spain, Bulgaria and Germany. According to Eurostat, the rate of completing higher education studies varies between 1.6% in Romania and 25% in the UK amongst agriculture workers. Finally, Romania has the lowest rate at EU level, 1.5%, in terms of full-time agriculture workers, as compared to the EU average of 16.4%.

MOLDOVA – EU Commissioner for Trade Cecilia Malmstrom spoke about the unused potential of Moldovas free trade agreement with the EU, despite offering many benefits to the Republic of Moldova. The EU official is on a visit to Chisinau to mark three years since the agreement was ratified. Cecilia Malmstrom said Moldovan authorities must carry out additional reforms to step up trade relations with the Union. The EU official went on to say that Moldovas implementation of the memorandum signed with the IMF is a prerequisite to the EUs € 100 million financial package to this country. According to statistics, Moldovas exports to the EU exceeded $ 1 billion in the first nine months of the year, up by 16% as compared to the same period last year.

TOUR – As of today US president Donald Trump is on a three-day visit to China, an important stop part of his tour of Asia. According to international news agencies, the White House leader will meet his counterpart Xi Jinping against the backdrop of US efforts to reconstruct a single frontline against North Koreas nuclear programme. Trump will call on China to break all trade relations with North Korea and get in line with UN sanctions against Pyongyang. During his tour of Asia, President Trump has visited Japan and South Korea, and will next travel to Vietnam and the Philippines.

FOOTBALL – On Thursday Romanias national football team is playing Turkey at home in Cluj Napoca, central Romania, and will next play the Netherlands on November 14. Both games are friendly. Coach Cosmin Contra has called up 30 players, of whom 17 play for clubs abroad. The two games are bound to prepare preparations for the 2020 European Cup preliminaries. Romania failed to qualify to the 2018 World Cup to be hosted by Russia, after a subpar campaign with German Christoph Daum at its helm. We recall Romanian Mircea Lucescu is currently Turkeys headcoach. (Translated by V. Palcu)