Tuesday, June 13th

Romania needs to continue reform and strengthen anti-corruption institutions, says the chief of Romanian Office of Konrad Adenauer Foundation

Martin Sieg, the head of the Romanian Office of Konrad Adenauer Foundation, has said that Bucharest needs to continue reforms and enforce the institutions that fight corruption. Romanians have come a long way from communism to a western-shaped democracy, according to Mr. Sieg, who believes that Romania could be considered a positive model, but the Romanian society has to continue the fight to combat corruption and strengthen the state of law. „First of all, Romanians have a lot of things to be proud of. Romania, in particular, has managed to strengthen the state of law in the last 20 to 25 years, and compared to other countries in the region, its progress seems larger. Secondly, Romanians could be proud of the commitment by the civil society to defend such values and I have seen this in the mass protests that took place at the start of this year in Bucharest and many other cities.” Martin Sieg has also said that now it is the politicians’ turn to try hard and boost people’s trust in democracy. „All political parties in this country, along with the opposition, have to think of ways to boost the trust of society in political parties and democracy.

The Fifth edition of the Open Innovation Conference is unfolding in the Romanian city of Cluj

Experts in innovation, elements of political decision and representatives of companies from all around Europe are taking part, on Tuesday and Wednesday, in the Fifth edition of Open Innovation Conference, organized by the European Commission, in the Romanian city of Cluj. This year is the first time when the conference is held in Eastern Europe. 550 people are registered to the 2.0 Open Innovation Conference, and around 200 of them are foreigners, from countries like Belgium, Hungary, Italy, Finland, France, Spain, Bulgaria, The United Kingdom, Israel and Sweden. They will discuss about the way that digital technologies are transforming the economy, the social relations and the culture.

Romania’s external debt has increased in the first quarter of the year

Romania’s foreign debt has increased in the first three months of 2017 by 1.71 billion euros, compared to the end of last year, reaching more than 94 billion. According to figures published on Tuesday by Romania’s National Bank, the current account of the balance of payments has recorded a deficit of more than 1.4 billion euros, compared to a little over 900 million euros in the same period of 2016. Direct foreign investments in Romania have exceeded 1 billion euros, compared to a little over 1 billion, in the first four months of 2016. Romania had the biggest foreign debt, of more than 100 billion euros, in March 2013, but it then declined, until the summer of last year, when it started to grow again.

Mădălina Brotăcel, Agenţia de presă RADOR