Press Review - February 12, 2019

02.12.2019 By Oana Gavrila

Central Bank Raises 2019 Inflation Forecast to 3% from 2.9%

Romania's central bank has raised its year-end inflation forecast for 2019 to 3% from a previous forecast of 2.9%, central bank governor Mugur Isarescu said Monday.

It also lowered its 2020 inflation forecast to 3.1% from a previous forecast of 3.2%.

Romania's central bank targets inflation at 2.5% a year, with a variation band of one percentage point.

Orban: PSD Attacks Central Bank, Blames it for High Interests

Liberal party president Ludovic Orban said Monday on Digi24 the ruling Social Democrat Party is attacking the central bank, accusing it of everything negative in the country's banking and finance system.

''PSD has launched an attack on the central bank, trying to accuse it of raising interests. It's nonsense. As long as the government's measures pushed inflation to an annualized average rate of 4.6%, interests cannot drop, because the interest perceived by a bank on loans to households or businesses must cover inflation,” said Orban.

UDMR Submits Dozens of Amendments to 2019 State Budget

The Hungarian minority party UDMR has submitted dozens of amendments to the budget bill, mostly targeting local priorities.

“There are a few dozen amendments, mostly related to local priorities because we tried to negotiate and solve funding that affected the general budget before the bill was sent to Parliament,” UDMR group leader in the Chamber of Deputies Korodi Attila.

Mountain Areas In 24 Counties Under Yellow Code Warning For Snowfall

Romania’s National Meteorological Administration (ANM) issued on Monday a code yellow warning for heavy snowfall and snowstorms for mountain areas in 24 counties starting Monday night.

The warning was issued for the mountain areas of Suceava, Bistrita-Nasaud, Neamt, Harghita, Mures, Brasov, Covasna, Prahova, Dambovita, Arges, Valcea, Mehedinti, Gorj, Sibiu, Alba, Cluj, Bihor, Arad, Timis, Caras-Severin, Hunedoara, Bacau, Vrancea and Buzau counties.

The alert will be in effect starting Monday at 10 PM until Wednesday at 10 AM.

The affected areas will see significant snowfall, consistent layers of snow and snowstorms. Strong winds are also expected, with speeds which could reach 80-90 km/h at heights of above 1,500 meters.

Elsewhere, most of the country will see a combination of rain, sleet, and snowfall, with temporary stronger winds.

ANM also issued a special forecast for Bucharest, where it will rain and snow Tuesday night, with temperatures falling below freezing at night.