RRI Live!

Listen to Radio Romania International Live

Economic prospects and social readjustment

The conflict started by Russia will inevitably impact European economy, the EU Commissioner for Economy Paolo Gentiloni said in Bucharest

Economic prospects and social readjustment
Economic prospects and social readjustment

, 30.03.2022, 13:50

The Covid-19 pandemic affected the Romanian economy for two years. Prospects for the situation to recover had existed, all the more so since, in early March, the authorities in Bucharest decided not to prolong the state of alert and not to impose any restrictions. The invasion of Ukraine, which almost coincided with Romanias overcoming the pandemic, triggered, however, new problems that overlapped with the existing ones: very large increases in electricity and natural gas prices, with effects on all consumption prices.



During a visit to Bucharest, the European Commissioner for Economy, Paolo Gentiloni, spoke of an already visible impact on inflation, which rose in February to 6.2% in the European Union and 7.9% in Romania. This year – the official from Brussels pointed out – Romania could have an economic growth of over 4%, but the Russian invasion in Ukraine will affect it. So, against the new background created after the pandemic, with the war in Ukraine raising fears, actions must be coordinated at EU level to prevent a serious crisis and to maintain the resumption of economic growth, through Recovery and Resilience Plans.



Obviously, the European Commissioner for Economy also stressed, these plans, being drawn up before the war, could be adjusted within the limits of the Community regulations in force, but they are extremely important anyway, as they are the driving engines of growth in a difficult situation.



Through its NRRP, Romania, for example, could benefit from over 29 billion euros. The Romanian executive is working on a package of measures to manage the effects of high inflation and the conflict in Ukraine, especially in order to counteract the rise in energy and food prices, the Romanian Minister of Finance, Adrian Câciu, said. He also stressed that at least 70-80% of the measures to be implemented should be financed with European money.



One of these measures would be to support over 3.5 million low-income Romanians. They could be helped with vouchers to deal with the wave of price increases and there are discussions in this regard in the governing coalition. The Social Democratic Party has proposed the granting of 50 euro vouchers for basic food, every two months, to families with children, people with disabilities and low-income pensioners. Pupils from poor families would also be helped with vouchers worth 30 euros to buy supplies, clothes and food. The Liberals agree with the food aid and have even proposed doubling some of the vouchers. (MI)

Photo: roaep.ro
Today in the News Monday, 25 November 2024

Surprising result in Romania’s presidential elections

The independent candidate Călin Georgescu takes the lead in the first round of the presidential elections in Romania.       Over 9.4...

Surprising result in Romania’s presidential elections
(foto: Polizia di Frontiera Romena)
Today in the News Monday, 25 November 2024

Closer to full Schengen accession

The Ministers of the Interior of Romania, Hungary, Austria and Bulgaria reached a historic agreement in Budapest on Friday on the enlargement of the...

Closer to full Schengen accession
Signing of the protocol (foto:
Today in the News Friday, 22 November 2024

Transition program towards F-35, launched

The Romanian Air Force’s transition program to 5th generation aircraft has been launched.   Romania’s decision to acquire advanced fighter...

Transition program towards F-35, launched
Energy (foto: EdWhiteImages / pixabay.com)
Today in the News Friday, 22 November 2024

The National Energy Strategy, adopted

Using local resources, reducing imports and making massive investments in production capacity are important elements of the new National Energy...

The National Energy Strategy, adopted
Today in the News Thursday, 21 November 2024

Political agreement on the new European Commission

    The leaders of the three major political groups in the European Parliament have given the green light to the members of the next...

Political agreement on the new European Commission
Today in the News Thursday, 21 November 2024

13 for Romania

    In Romania, presidential elections usually spark the greatest interest and emotions. Even more so this year, when the two rounds of the...

13 for Romania
Today in the News Wednesday, 20 November 2024

Romania’s natural gas, available for trading

On Tuesday, the Romanian company Romgaz launched its first issue of bonds on the Bucharest Stock Exchange, worth 500 million EUR. Romgaz is the...

Romania’s natural gas, available for trading
Today in the News Tuesday, 19 November 2024

Romania ahead of the presidential election

Next month, President Klaus Iohannis will end his second and last five-year term in office according to the Romanian Constitution. The so-called...

Romania ahead of the presidential election

Partners

Muzeul Național al Țăranului Român Muzeul Național al Țăranului Român
Liga Studentilor Romani din Strainatate - LSRS Liga Studentilor Romani din Strainatate - LSRS
Modernism | The Leading Romanian Art Magazine Online Modernism | The Leading Romanian Art Magazine Online
Institului European din România Institului European din România
Institutul Francez din România – Bucureşti Institutul Francez din România – Bucureşti
Muzeul Național de Artă al României Muzeul Național de Artă al României
Le petit Journal Le petit Journal
Radio Prague International Radio Prague International
Muzeul Național de Istorie a României Muzeul Național de Istorie a României
ARCUB ARCUB
Radio Canada International Radio Canada International
Muzeul Național al Satului „Dimitrie Gusti” Muzeul Național al Satului „Dimitrie Gusti”
SWI swissinfo.ch SWI swissinfo.ch
UBB Radio ONLINE UBB Radio ONLINE
Strona główna - English Section - polskieradio.pl Strona główna - English Section - polskieradio.pl
creart - Centrul de Creație Artă și Tradiție al Municipiului Bucuresti creart - Centrul de Creație Artă și Tradiție al Municipiului Bucuresti
italradio italradio
Institutul Confucius Institutul Confucius
BUCPRESS - știri din Cernăuți BUCPRESS - știri din Cernăuți

Affiliates

Euranet Plus Euranet Plus
AIB | the trade association for international broadcasters AIB | the trade association for international broadcasters
Digital Radio Mondiale Digital Radio Mondiale
News and current affairs from Germany and around the world News and current affairs from Germany and around the world
Comunità radiotelevisiva italofona Comunità radiotelevisiva italofona

Providers

RADIOCOM RADIOCOM
Zeno Media - The Everything Audio Company Zeno Media - The Everything Audio Company