Press Review - January 16, 2018

01.16.2018 By Oana Gavrila

Opposition Backs Early Elections Scenario

Liberal Party president Ludovic Orban said Monday after prime minister Mihai Tudose announced his resignation the only solution is to hold early elections since the ruling party is in crisis.

“They have not yet found a perfect servant for Dragnea in the Social Democratic Party, that would last more than six months as head of government. It is clear the party is in deep crisis and acts for obscure reasons that have nothing to do with the interests of the country.

He added the head of state will decide on the best solution.

“From the Liberal Party's point of view, the only good solution, we don't know if it's possible, would be to return to citizens and hold early elections,” said Orban.

USR president Dan Barna said the ruling majority has again proven it is incapable of holding power and the only option would be early elections.

“For a year, PSD has been mocking Romanian citizens. At this point, we believe early elections are the only decent option,” said Barna.

Prime minister Tudose announced his resignation Monday evening after party leaders withdrew their political support for him.

Romania's External Debt Grows EUR1.4B in Jan-Nov

Romania's total external debt grew by EUR1.48 billion from end-December 2016, standing at EUR94.39 billion at the end of November 2017, central bank data showed.

Long-term debt stood at EUR69.35 billion, accounting for 73.5% of the total external debt.

Foreign Direct Investment In Romania Grows 19.8% in Jan-Nov, To EUR4.3B

Foreign direct investment in Romania grew 19.8% and stood at EUR4.37 billion in January-November compared with EUR3.65 billion in the same period last year, central bank data showed.

Of total FDI, equity stakes (including estimated net reinvestment of earnings) amounted to EUR3.5 billion, while net intra-group lending stood at EUR875 million, the data showed.

Romania's current account balance posted a deficit of EUR5.58 billion in January-November, compared with a deficit of EUR2.89 billion in the same period the year before.

Competition Council Fines CRH Ciment And Comnord Over EUR655,000

Romania’s Competition Council has fined companies CRH Ciment and Comnord over RON3,056,314 (nearly EUR655,904), for implementing an economic concentration before being licensed by the antitrust watchdog.

Within an inquiry into the transaction whereby CRH Ciment (Romania) SA became the sole shareholder of CRH Comnord SA, the antitrust watchdog found that a previous operation (namely, the operation through which CRH Ciment Romania SA and Comnord SA jointly acquired CRH Comnord SA) was not notified and licensed, under the valid norms.

CRH Ciment (Romania) is part of CRH group, which operates globally in the sector of manufacturing and sale of cement, concrete and other building materials.

Romanian President Meets Japanese PM in Bucharest Tuesday

Romanian President Klaus Iohannis will meet on Tuesday in Bucharest with Japanese Prime Minister Shinzo Abe and the two will discuss multilateral Romanian-Japanese cooperation and ways of strengthening the relations between the two countries.

A press release from the Presidential Administration reads that Shinzo Abe will be the first Japanese prime minister to come to Romania and his visit marks five years since the two countries signed the Joint Declaration on the Renewed Partnership between Romania and Japan.

The two officials will discuss ways of strengthening the Romanian-Japanese relations from the perspective of politics, economy, culture, security, as well as Japan’s cooperation with the European Union and regional developments, with emphasis on the situation regarding North Korea.