Current account deficit dropped by 58.9% in Q1 2011 to 634 million euro  The current account deficit of the balance of payments dropped in the first quarter of the year by 58.9% compared to the similar period, last year to 634 million euro, Romania’s National Central Bank data reports. In January – March 2010 the current account deficit was 1.54 billion euro.
PM Emil Boc: over 157,000 new labor contracts registered in 10 days since the new Labour Code was enforced 157,306 new labor contracts were registered in the last 10 days since the new Labour Code was enforced, PM Emil Boc said. He said that 70% of the newly registered labor contracts were signed for an undetermined period of time.
PwC report: Romania will contribute by 22 billion American dollars to the growth of the constructions sector in the upcoming 10 years  Romania will contribute by 22 billion American dollars to the growth of the constructions sector in the upcoming 10 years, representing the fourth biggest contribution in Central and Eastern Europe after Russia, Turkey and Poland but it will have even a bigger contribution than Czech Republic, Ukraine and Hungary to the world’s growth, a press release of the local PricewaterhouseCoopers branch remitted to HotNews reads.
Mihai Tanasescu, IMF: A solution for Termoelectrica would be to separate actives/ Privatization of energy companies can be done with the state as majority shareholder I believe that a solution to increase the efficiency of Termoelectrica, the thermal plant, represents to separate the good actives from the bad ones and transform the new company into a viable one that would offer best quality services, Mihai Tanasescu, member of the IMF board declared in an online meeting with readers.
Dacia is the most trustworthy car brand in Romania only / Volkswagen is leader in five countries in Europe  Dacia is the car brand which only Romanians trust while Volkswagen was named the most trustworthy car brand in five European countries while Toyota in four countries, a study conducted by Reader’s Digest across 16 countries reads. It is interesting that no premium brand was chosen in none of the 16 countries participating.
Kinga Agnes Daradics, new MOL Romania CEO  MOL Romania announced on Monday its new CEO Kinga Agnes Daradics that will replace Szabolcs Ferencz that lead the oil company as of January 2010. Daradics started her career with MOL in 2003.
PM Boc: there’s no reason to give p the objective to join euro zone in 2015  Romania maintains its objective to join the euro zone in 2015, PM Emil Boc said at the end of a government’s meeting. Boc said that this is the decision of the government following consultations with coalition members, Central Bank Governor Mugur Isarescu and President Traian Basescu. There is no reason to give up this objective, Boc said. The government approved on Friday the convergence program through which Romanian maintains its objective to adopt the euro in 2015.
Competition Council fined three companies dealing with fruits and vegetables by 16.7 million lei The Competition Council fined three companies, Interfruct, Albinuta Shops and Profi Rom Food with a total fine of 16.7 million lei, about 4 million euro, for fixing selling prices of vegetables and fruits.
5.2 billion lei budgetary deficit after Q1 representing 1% of GDP  The general consolidated budget registered in the first quarter of the year a 5.2 billion lei deficit, representing 1% of GDP. In March, the deficit was 2.3 billion lei representing 0.4% of GDP. According to Finance ministry data, budgetary spending was 46.8 billion lei while revenues reached 41.6 billion lei.
PM Boc: Romania to decide by the end of the month whether it will maintain its euro zone objective Romania will decide whether it will give up plans to join the euro zone in January 2015 through the convergence plan that is currently debated between the government, national bank and the presidency and will be approved by the end of the month, PM Boc declared quoted by Agerpres.
An IMF mission arrives in Romania in the end of April for a first evaluation of the precautionary agreement An IMF mission will arrive in Romania in Bucharest at the end of the month for the first evaluation mission of the new standby agreement, precautionary signed with Romania, IMF representatives said.
Mugur Isarescu: when defending the national currency, the best approach is neither aggressive nor barbarian Romania’s National Central Bank governor Mugur Isarescu declared on Wednesday that when the central bank defends the national currency, the operations cannot called aggressive nor barbarian referring to the speculative attack against the national currency in 2008. The governor said that in times like that the central bank attempts to avoid market panic.
Ford produced a little over 2,500 cars at Craiova, South Romania in Q1 / Duster represented over half of the production at Dacia  The production of Ford models at the factory in Craiova, South Romania remained at last year’s level a little below 900 units/month while production at Dacia advanced with a few percentages but Duster models were over half of the total, while Sandero’s production dropped by 58%.
Romania registered in March the biggest annual inflation rate in the EU of 8%  Romania registered in March the biggest annual inflation rate in the EU, with a price increase of 8% compared to the same month in 2010, Eurostat data shows. The inflation rate increased compared to the last month when the indicator was 7.6%.
Romania’s foreign debt increased by 1.1% in the first two months of the year to 91.79 billion euro  Romania’s foreign debt rose to 91.79 billion euro after the first months of the year with almost 1 billion euro more than last year, Romania’s National Central Bank data shows. The long term and medium foreign debt is 72.86 billion euro, a 1.1% higher than the debt registered in December 2010. The short term debt increased to 18.93 billion euro.
Foreign direct investments doubled in the first two months of the year to 294 million euro  Foreign direct investments amounted to 294 million euro, twice than the similar period in 2010, Romania’s National Central Bank data show. In January – February 2010, the value of FDI in Romania was 140 million euro.
Capital Economics: Romania will continue to speed up but on bumpy roads  Romania’s economic relaunch will continue to speed up on bumpy roads with an industry production sustained by export demands while internal consumption will remain weak due to restrictive fiscal policies, a Capital Economics analysis reads quoted by Romanian news agency Mediafax.
3,000 CFR Marfa employees to be laid off starting June 1  CFR Marfa, the national freight railway company notified unions and labour inspectors about its plans to lay off 3,000 employees even though the negotiated numbers with the unions was 2,400 starting June 1st, union leader Iulian Mantescu declared quoted by Romanian news agency Mediafax. Mantescu said CFR Marfa started on April 8th to notify unions regarding their intentions.
IMF: Romania’s economy to increase by 1.5% this year and by 4.4% in 2012  Economic recovery will be slower in some emerging European countries that registered internal unsustainable booms like Romania, the World Economic Outlook report released by the IMF reports. Experts of the institution estimate that after a 1.3% decline in 2010, Romania’s economy will grow by 1.5% this year and by 4.4% in 2012.
Romania’s commercial deficit decreased by 52% up to 582.4 million euro in the first two months of 2011  Romania’s commercial deficit in the first two months of this year was 582.4 million euro, a 51.8% drop compared to the same period last year, considering that exports had a higher growth rhythm than imports, Romania’s National Statistics Institute announced.


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