October 31st 2018

Romania’s justice minister under debate in parliament

Romanian Parliament’s lower house is expected to vote a simple motion put forward by opposition right-wing National Liberal (PNL), and Save Romania (USR) parties against the country’s justice minister. A previous statement in parliament by Justice Minister Tudorel Toader gained support from MPs of the ruling left-wing Social Democrat Party (PSD). However, PSD leader and house speaker Liviu Dragnea said MPs were expected to vote ‘according to their conscience’. PNL and USR accuse Mr. Toader of politicising his ministry while also ignoring recommendations made by international institutions.

Romania’s unemployment rate declines

Romania’s unemployment rate hit 4.1 percent in September, 0.2 percent lower than the similar rate in August. The rate is the lowest on record as the number of unemployed declined by 14.6 thousand to 370.4 thousand after reaching 385.5 a month earlier. Meanwhile, the unemployment rate fell for both men (4.7 percent from 4.9 percent) and women (3.2 percent from 3.5 percent). In Romania, unemployment rate includes the number of people actively looking for a job as a percentage in the labour force. The Romanian economy is currently enjoying a period of grace. At first glance it seems like an ideal situation, but reality is hiding tense relations on the labour market, with fewer than ever newcomers entering the market, and with diminishing skills. However, caution is needed when reading statistics related to unemployment, because most poor skilled unemployed of working age are not included, analysts say.

IMF delegation on a visit to Romania

An IMF delegation is expected on a visit to capital Bucharest next week. IMF delegates and Romanian officials are expected to discuss the country’s economic and financial forecast and 2019 draft budget. Alejandro Hajdenberg, an IMF representative for Romania and Bulgaria, said on Tuesday the country’s budget deficit would hit 3.6 percent by the end of 2018, well above government forecast of just under 3 percent. In its latest World Economic Outlook report, IMF estimated a growth of 5.1 percent in Romania this year.

IndAgra show opens at Romexpo in Bucharest

IndAgra, Romania’s major agricultural event, opens at Romexpo Exhibition Center in the capital Bucharest on Wednesday, October 31. IndAgra’s 23rd edition will close on November 4. IndAgra is an international trade fair of equipment and products in agriculture, horticulture, viticulture and animal husbandry which is also expected to include an US Agrobusiness Opportunities Forum on „Food and Water Security”, an international exhibition of products and equipment for food and drink industry, and an Expo Drink and Wine. More than 700 local and foreign participants will attend the event where more than 60,000 visitors are expected.

Alexandru Danga