Press Review - January 15, 2019

01.15.2019 By Oana Gavrila

Leu Firms Slightly Vs Euro

The Romanian leu firmed slightly against the euro Monday, after hitting all-time lows last week.

The leu gained 0.02% on Monday, standing at an average midday rate of 4.6771 units to the euro.

The leu fell to 4.6722 Wednesday, deepening losses to 4.6764 Thursday and going further down on Friday, to 4.6782 units against the euro.

Romania's External Debt Grows by EUR2B in Jan-Nov 2018

Romania's total external debt grew by EUR2 billion from end-December 2017, standing at EUR99.364 billion at the end of November 2018, central bank data showed Monday.

Long-term debt stood at EUR67.7 billion, accounting for 68.2% of the total external debt.

Romania's current account balance posted a deficit of EUR8.73 billion in January-November 2018, 60% higher compared with a deficit of EUR5.468 billion in the same period the year before.

President To Reject Cabinet Proposals Again

Romanian President Klaus Iohannis said Monday he would again reject proposals made by Prime Minister Viorica Dancila for new development and transport ministers.

“Yes, these two proposals will be rejected during this week. The documents will be finalized and sent to the Government within two days,” said Iohannis.

This is the third time President Iohannis rejects proposals for the offices in the last two months.

On Thursday, Dancila announced she has again proposed Lia Olguta Vasilescu for regional development minister and Mircea Draghici for transport minister, despite the head of state's previous rejection of the same nominees.

Twenty-Seven Counties Under Code Yellow Warning For Strong Winds

Romania’s weather authority issued a new code yellow warning on Monday for strong winds expected in 27 counties until Wednesday, with speeds to reach as much as 120 km/h in mountain areas.

The warning will be in effect until 8 pm Wednesday. Snowfall and mixed precipitations are also in the forecast. Wind speeds will generally register an average 45-60 km/h, with stronger winds expected on Wednesday.

The counties affected are Satu Mare, Maramures, Salaj, 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.

Winds of up to 120 km/h, blizzards and low visibility are expected in the southern Carpathian area.