Press Review - August 3, 2018

08.03.2018 By Oana Gavrila

Romania Seeks to Raise RON2.8B Selling State Paper in August

The finance ministry seeks to raise RON2.83 billion selling state paper on the local market in August, of which 2.5 billion selling treasury bonds.

The target is RON130 million higher than in July.

The ministry has planned seven benchmark bond tenders totaling RON2.2 billion, followed by supplementary, non-competitive tenders.

Romania needs to raise RON48-50 billion this year from the local market.

Government Plans Positive Budget Revision in August Despite Ballooning Deficit

Romania's prime minister Viorica Dancila said Thursday the government will make a positive budget revision in the second half of August, citing higher than expected revenues to the consolidated budget.

Romania's general consolidated budget posted a deficit of RON14.97 billion in the first half of 2018, or 1.61% of the gross domestic product, more than double compared with RON6.295 billion in the same period last year, and analysts warn Romania risks overshooting the 3% of GDP deficit limit.

Dancila said the government keeps its deficit target unchanged at 2.97% of GDP.

Macovei: Toader's Tramples Romania to Rid Politicians of Final Court Rulings

Romanian MEP Monica Macovei said justice minister Tudorel Toader is trampling over Romania and the rule of law to get politicians with final rulings off the hook.

The harm Toader is doing to the country could be irreversible, she said of the minister's plan to pass an emergency ordinance allowing the revision of final court rulings citing protocols between secret services and prosecution offices.

President Challenges Conflict of Interest Bill at Constitutional Court

Romanian President Klaus Iohannis on Thursday challenged at the Constitutional Court a bill passed by the Parliament which would set a three-year statute of limitations on the offense of conflict of interest.

The president says in his challenge the amendment contradicts another provision of the same bill which sets the limitation period of the offense to the entire duration of public office for elected or appointed public officials.

Romania’s Senate passed on July 10, as a deciding body, multiple amendments spread throughout two bills which change the way the offense of conflict of interest applies to elected officials.