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What’s changing for Romanians since January 1: massive increases in energy, increases in fuel and cigarette prices ● Teachers lose 30% of their income because they enter education ● Cîțu: The 2021 budget does not slow down the economy ● Tour operator: The last minute will be a general trend for 2021, and tourism will have a regional touch ● Top winners and losers for EU industry in the year of the pandemic ● Lucian Isar, Romania’s representative to the EBRD, was appointed honorary adviser to Prime Minister Florin Cîţu ● Digitization will ensure the sustainability of companies ● Postponement of recalibration will inevitably lead to financial difficulties ● Market liberalization will make energy more expensive. Minister’s Tip: Look for Cheap Suppliers ● The government wants to give money to young people who move to the country.
Budget execution: 8% budget deficit after 11 months of 2020. The execution of the consolidated general budget for the eleven months of 2020 registered a deficit of 84.05 billion lei (8.0% of GDP), Finance writes in the budget execution report. Amounts amounting to 43.66 billion lei (4.16% of GDP) were left in the economic environment through exceptional fiscal facilities, investments and expenses aimed at combating the effects of the COVID-19 epidemic. The increase in the budget deficit for the eleven months of the current year, with respect to the same period of the previous year, is explained, on the income side, (I) by the unfavorable evolution of budget income in March-November due to the crisis, and as a consequence of the postponement of the payment of some tax obligations by economic agents during the crisis (19,080 million lei), (II) of the increase of 1,880 million lei in VAT refunds, compared to the level relative to the period January-November 2019, to support liquidity in the private sector, (II) as well as the bonuses granted for the payment upon maturity of the income tax of micro-enterprises, amounting to 900 million lei, write economica.net.
Top winners and losers of the EU industry in the year of the pandemic. Hit by the first wave of coronavirus in the spring and battling a second wave in the fall, European companies have seen a dramatic drop in production, with a decline in recent months. And although performance has been stronger than expected, but uneven, and some have done better than others, uncertainty continues to cloud the future of EU production. When the pandemic reached its first peak in early 2020, EU industrial production fell 27.6 percent in April from the previous year. In countries that forced the closure of factories and other businesses, such as Spain, France and Italy, production fell the most (more than 40% in the case of Italy). By comparison, countries that kept assembly lines (Germany and Sweden, for example) performed better, write cursdeguvernare.ro
Lucian Isar, Romania’s representative to the EBRD, was appointed honorary adviser to Prime Minister Florin Cîţu. Prime Minister Florin Cîţu has appointed Lucian Isar, Romania’s representative to the EBRD, as an honorary advisor, a position that is not paid. In fact, Florin Cîţu, as Minister of Finance, appointed Lucian Isar at the beginning of the year to the post of EBRD – European Bank for Reconstruction and Development -, one of Romania’s largest creditors. The two have known each other for more than 15 years, as they were chief treasuries at Citybank and Bancpost, respectively ING. The two are placed on the list of those who speculated on the exchange rate of the leu in the fall of 2008, an extremely controversial episode in the history of the foreign exchange market. The NBR has never confirmed the names of the blacklisted merchants or treasurers. The truth is that the two broke up with Bancpost and ING after a few years. Lucian Isar is the husband of Alina Gorghiu, a prominent member of NLP, and in 2010 he attended courses at the National Defense College in Bucharest and the National Academy of Intelligence Mihai Viteazu, writes Ziarul Finance.
Digitization will guarantee the sustainability of companies. Postponing recalibration will inevitably lead to financial difficulties. Are industrial companies looking forward to new fiscal and legislative measures to ease the burden? Are you recalibrating, looking for direction, or waiting for the end? In the current context, the conclusion would be that the pandemic has generated an effervescence among managers and under its pressure companies have begun to adapt their strategies to the general context of the business environment and to take measures to ensure continuity through reorientation, resizing or redesign total; partial activity. The real possibilities of overcoming the current crisis depend on the current state of each company and the speed with which they take their recalibration measures through restructuring write project-e.ro
Market liberalization will make energy more expensive. Minister’s Tip: Look for Cheap Suppliers. Domestic electricity consumers must conclude new contracts in the free market, where they find prices lower than what they would pay if they stick with the old contracts, starting on January 1, Virgil Popescu, energy minister, said on Monday. This is in the context in which, as of January 1, 2021, the electricity market will be completely liberalized, and consumers who stay with the old contracts will pay higher bills with values between 13% and 26%. “There is the competitive market (free – no.), Which is cheaper than the universal market (the old regulated market – no.) And there is Hidroeléctrica, which has had a lower price since January 1. People should look at the ANRE website. I said about two weeks ago, when Hidroeléctrica announced a 4% reduction in the price of electricity from January 1, that not everyone is satisfied with the current supplier can choose a supplier from the Competitive market, respectively, can move to Hidroeléctrica, which so far offers the lowest price and since January 1 lower than this year’s price and lower than the regulated price that is until December 31, “said the minister. . according to rfi.ro.
The government wants to give money to young people who move to the country. In the Cabinet government program led by Florin Cîțu and supported by PNL, USR PLUS and UDMR, there are several facilities for young people who want to do business in rural areas. According to the government project, among other things, a “installation bonus of 100,000 euros for young farmers, financed by the Common Agricultural Policy of the European Union” would be offered. It also wants to “support rural entrepreneurship and young farmers, under a general scheme for the development of agriculture, with a total budget of 300 million euros.” Also included in the government program are: “fiscal facilities for young people to start their own business, with an emphasis on rural areas; subsidize the interests of the State for loans to young people who develop their own business; development of a youth guarantee product for all financing schemes of government and European companies (these are the Innotech Student, Startup Nation and other programs, the focus will be on technology and innovation) “writes greatnews.ro
