According to the data published on August 14th by the National Institute of Statistics, in June 2019, industrial production decreased by 7.0% as gross series compared to the previous month and was down 1.0% as series adjusted by number of working days and seasonality.
Continuă lectura „Industrial production indices”
The European Commission is launching two projects to provide expertise to Romanian regions and cities, in cooperation with the Romanian government and the World Bank according to the press release dated August 8th.
Continuă lectura „Investments in sustainable urban development”
According to the press release dated July 23 of National Bank of Romania, at end-June 2019, broad money (M3) amounted to RON 390,477.8 million, up 0.3 percent (0.5 percent in real terms) month-on-month. In year-on-year comparison, broad money rose by 7.7 percent (3.7 percent in real terms).
Continuă lectura „NBR – monetary indicators”
In January – May 2019, the balance-of-payments current account posted a deficit of EUR 3,401 million, compared with EUR 2,564 million in January – May 2018. The deficit on trade in goods widened by EUR 1,476 million, the surplus on services income increased by EUR 116 million, the deficit of the primary income balance narrowed by EUR 778 million, and the surplus of the secondary income balance decreased by EUR 255 million according to the National Bank of Romania‘s press release dated July 15.
Continuă lectura „Balance of payments and external debt”
According to the press release of National Bank of Romania dated July 4th, the Board of the National Bank of Romania decided: to keep the monetary policy rate at 2.50 percent per annum; to leave unchanged the deposit facility rate at 1.50 percent per annum and the lending facility rate at 3.50 percent per annum; and to maintain the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions.
Continuă lectura „Monetary policy – NBR Board decisions”
New EU rules come into force on July 1st to ensure quicker and more effective resolution of tax disputes between Member States, making life easier and offering much more tax certainty for businesses and individuals experiencing double taxation issues as shown in the press release of European Commission.
Continuă lectura „Fair Taxation – new rules”
The EU is introducing new rules which will provide businesses with a more transparent, fair and predictable online business environment, as well as an efficient system for seeking redress. The regulation adopted on June 14 by the Council addresses relations between online platforms and businesses as shown in the press release of the Council of the EU.
Continuă lectura „Transparency obligations for online platforms”
As shown in the Financial Stability Report June 2019 published on June 5th by the National Bank of Romania, the financial stability has remained adequate since the release of the previous Report, yet the associated risks are on the rise, amid global economic and financial developments marked by heightened uncertainty, alongside the resurgence on the domestic front of the risk of an uncertain and unpredictable legislative framework in the financial and banking sector.
Continuă lectura „Financial Stability Report”
According to the Eurofound’s annual review of minimum wages in the EU, there have been wage increases for minimum and low-wage earners in most EU Member States, with rises in statutory minimum wages in almost all countries since January 2018; including significant increases in Lithuania, Spain, Greece and low-wage newer Member States. While these increases are welcomed as good news for minimum wage workers, Eurofound’s research shows workers may not automatically feel the positive impacts of these changes in terms of income and reductions in wage inequality. This is because these increases can be offset by changes in taxation; that there are many groups of workers that do not avail of minimum rates; and, although women are proportionately more likely to work in minimum wage jobs, increasing the minimum wage may not mean closing the gender pay gap.
Continuă lectura „Minimum wages in 2019”
According to the press release of National Bank of Romania, in its meeting of 15 May 2019, the Board of the National Bank of Romania decided: to keep the monetary policy rate at 2.50 percent per annum; to leave unchanged the deposit facility rate at 1.50 percent per annum and the lending facility rate at 3.50 percent per annum; and to maintain the existing levels of minimum reserve requirement ratios on both leu- and foreign currency-denominated liabilities of credit institutions.
Continuă lectura „NBR decisions on monetary policy”