November 11, 2024 UPDATE
A roundup of local and international news.
Newsroom, 11.11.2024, 19:46
Visit. Romanian Prime Minister Marcel Ciolacu will make an official visit to London on Tuesday and Wednesday to meet his British counterpart Keir Starmer, the speaker of the House of Commons, Lindsay Hoyle and the Lord Mayor of the City of London, Alastair King. According to a statement from the prime minister, Marcel Ciolacu is also expected to attend the Romania-Great Britain Economic Forum, visit the Romanian Church and meet members of the Romanian community in Great Britain. “The Romanian government is interested in consolidating the strategic partnership with the United Kingdom in all areas of mutual interest and in order to meet current challenges and opportunities”, said Ciolacu. The official delegation also includes foreign minister Luminiţa Odobescu, defence minister Angel Tîlvăr, economy minister Radu Oprea and energy minister Sebastian Burduja. This is the first visit by a Romanian prime minister to the UK in the last 17 years.
Inflation. The National Bank of Romania expects the inflation rate to again go up by the end of the year, projecting it to hit 4.9%, up from 4% in the summer forecast. The Bank has maintained, however, its 3.5% forecast for the end of next year. The governor of the National Bank Mugur Isărescu emphasised that these forecasts have a high degree of uncertainty because the high budget deficit level will most likely call for measures to address this development. The National Bank has also decided to maintain the key interest rate at 6.5% a year, as it also did in its previous meeting in October.
Veterans. The Day of War Veterans was celebrated on Monday in Bucharest at the Monument of the heroes fallen in theatres of operation. Military and religious events were held, flowers were laid and the battle flag was granted the Land Component Command General Alexandru Cernat. “The veterans of the theatres of operation fulfilled all missions entrusted to them, showing professionalism, loyalty and readiness to learn, to adjust to the conditions existing in the theatres of operation and to work with partners from NATO, the European Union and the OSCE”, said lieutenant-colonel Nelu Chirilă, a veteran who served in Afghanistan, Iraq and Bosnia and Hertegovina. November 11 was chosen for its symbolism: the entry into force, in 1918, of the truce between the Entente Powers and Germany, which ended the First World War and created the necessary conditions for the Great Union in Romania. The significance of this day for the Romanian Army is also related to the fact that November 11, 2003 saw the first Romanian casualty in the theatre of operations in Afghanistan with the death of Second Lieutenant Iosif-Silviu Fogaraşi in the line of duty.
EU. Romanian foreign minister Luminiţa Odobescu on Monday took part in a working meeting with the heads of mission of the EU member states accredited in Bucharest. Talks focused on the geopolitical context, the EU’s enlargement policy, EU competitiveness, the Transatlantic partnership and entry to the Schengen area, said a foreign ministry statement. The Romanian minister highlighted the need for unity in action and finding joint solutions in tackling hybrid challenges and threats targeting EU member and partner states. She also reiterated Romania’s constant support for the European path of the Republic of Moldova and Ukraine, as well as the need to consolidate political dialogue with the Western Balkans in order to speed up the European integration process in the region.
Deficit. Romania’s trade deficit grew by 15% in the first 9 months of the year to reach 23.5 billion euros, according to data published on Monday by the National Institute for Statistics. Exports passed 69 billion euros, down by 1.4%, while imports amounted to almost 93 billion, up by 2.3%. Cars and transport equipment and other manufactured products accounted for significant shares of imports and exports in the first nine months of the year, according to the figures published by the National Institute for Statistics.
