Press Review - January 29, 2018

01.29.2018 By Oana Gavrila

Third Social Democrat Government Seeks Confidence Vote Monday

Romania's third social democrat-led government in a year seeks the Parliament's confidence vote Monday.

The Hungarian minority party UDMR has not yet said how it plans to vote regarding the proposed Cabinet.

Proposed ministers will undergo hearings until 2 pm and a confidence vote will be held by Monday evening. The Cabinet needs at least 233 votes to be invested and the ruling coalition has a total of 243 lawmakers.

Romanians Work More Than the French, Earn Four Times Less

Employees in Romania average a 40.7-hour work week, while the French only average a 39-hour work week, according to Eurostat data.

However, while a Romanian makes an average monthly salary of EUR520, a French employee makes an average EUR2,200, more than four times as much.

The longest working hours are in the UK (42.3 hours a week), Cyprus (41.7 hours), Austria (41.7 hours), Greece (41.2 hours), and Poland and Portugal (41.1 hours).

Romania Posts Budget Deficit of 2.88% of GDP in 2017

Romania's general consolidated budget posted a deficit of RON24.3 billion ($6.49 billion), or 2.88% of gross domestic product, below the EU-limit of 3% and below the government's target of 2.96% of GDP, finance ministry data showed.

Revenues to the consolidated budget amounted to RON258.1 billion, accounting for 29.9% of GDP, and were 12.5% higher in nominal terms compared with 2016.

Budget expenditure stood at RON276.1 billion, accounting for 32.8% of GDP, and was 14% higher than in 2016. Staff spending increased 22% on the year due to public sector wage hikes approved in the second half of 2016.

Just RON26.7 billion was allocated for investments in 2017, or 3.2% of GDP, which includes capital expenditure and development programs financed from local and external sources.

3.3 Earthquake in Buzau County, Eastern Romania

An earthquake measuring 3.3 on the Richter scale occurred Sunday evening in Buzau county, the Earth Physics Institute said.

The quake occurred at 11:22 pm local time at a depth of 104 kilometers near towns Nehoiu (27km), Buzau (49km), Covasna (51km), Mizil (52km), Intorsura Buzaului (57km).