Romania’s economy under scrutiny
EU Represenation of the European Comission in Romania opens a conference on its Economic Report for Romania in 2017 on Wednesday. The country’s GDP is expected to rise at 4.4 percent, according to recent forecast. The report was issued as part of the European Semester, a framework providing coordination of economic policies across the European Union. It allows EU countries to discuss their economic and budget plans and monitor progress at specific times throughout the year. Romania’s economy stepped up in 2016 due to a strong domestic demand. Q4’s GDP outturn brought 2016’s overall growth rate to 4.8%, the fastest pace since 2007 and the highest mark in the EU, according to EU sources. The government is counting on the growth momentum carrying over to justify its 2017 budget, which was passed in February and foresees large spending increases. The budget deficit is expected to hit 2.99% of GDP this year, within the EU’s 3% threshold though the figure is based on very optimistic GDP growth forecasts.
IMF’s Reza Baqir meets Romania’s deputy prime minister
The head of IMF’s Delegation for Romania Reza Baqir is expected to meet Sevil Shhaideh, the country’s Deputy Prime Minister, for talks on economic issues. The meeting on Wednesday comes after Mr. Baqir discussed similar issues with budget-finance commissioners in the Romanian Parliament on Tuesday. The IMF official praised Romania’s economic performance in 2016 and its success in solving its problems following a crisis in 2009. However, Mr. Baqir warned that recent economic measures adopted by the government could put the country’s budget under pressure with a bleak outcome for its deficit. The Romanian government may be forced to make cuts to comply with EU’s fiscal rules.
NATO Romanian troops go to Poland
A ceremony on Wednesday in the Romanian southern city of Craiova will mark the departure of a Romanian anti-aircraft unit on a six-month mission to Poland. The Romanian unit is part of a US-led force intended to bolster ties between NATO allies and send a clear message to potential threats. Polish Prime Minister Beata Szydlo welcomed US troops to her country at a formal ceremony on Saturday, saying it was a „great day” that would help ensure Poland’s security. The Kremlin has hit out at the biggest deployment of US troops in Europe since the end of the cold war, branding the arrival of troops and tanks in Poland as a threat to Russia’s national security.
World Consumer Rights Day in Romania
Romania is celebrating the World Consumer Rights Day on March 15 – an annual occasion for celebration and solidarity within the international consumer movement. Participants observe the day by promoting the basic rights of all consumers, demanding that those rights are respected and protected. In Romania, a National Authority for Consumer Protection (ANPC) was established in 2001 following an emergency ordinance issued by the Romanian government in order to replace the existing Office for Consumer Protection (OPC) established in 1992.