Wednesday, July 18th

The Romanian Constitutional Court has ruled against a bill to set up a sovereign wealth fund

Romania’s Constitutional Court has ruled against a parliament bill to create a sovereign development and investment fund (FSDI), after opposition parties USR, PNL and PMP, as well as president Klaus Iohannis have claimed that the bill was unconstitutional. The court has invalidated the bill, saying that it was not up to parliament to set up the fund. Instead, it should be created by government decree, the president of the court, Valer Dorneanu, has said, after the ruling.

Romania’s Foreign Minister has met his Austrian counterpart in Bucharest

The Austrian Foreign Minister Karin Kneissl has said that a respect for a transparent rule of law in Romania is extremely important, adding that he hopes that Romania and Austria will continue together policies in this area. For his part, the Romanian Foreign Minister Teodor Melescanu, has explained that the agenda of his meeting with Mrs. Kneissl included the situation of Romanian community in Austria and energy security, with respect to the controversial North Stream II Pipeline, that Russia wants to build in order to avoid Ukraine and stop paying transit taxes to Kiev.

Romania has had the highest inflation rate among European Union states in June

Romania continued to have the highest inflation rate among the European Union member states in June, when the consumption prices increased by 4.7%. According to data published on Wednesday by Eurostat, the annual inflation rate in EU has slacken in June at 2%, a similar level with the one recorded in the euro zone. Among EU member states, the highest inflation rates were recorded in Romania, Estonia and Hungary. Annual price increases were influenced by energy prices, as well as costs for services, food and cigarettes. As far as Romania is concerned, the National Statistics Institute has previously shown that the annual inflation rate was 5.4% in June, slightly lower than the month before.

Mădălina Brotăcel – RADOR