Press Review - June 6, 2017

06.06.2017 By Oana Gavrila

Klaus Iohannis Receives Light Unto the Nations Award

Romanian President Klaus Iohannis received the Light Unto the Nations Award from the American Jewish Committee.

Iohannis said he will direct his efforts into consolidating democracy, the rule of law in Romania, in the region and globally.

Iohannis also said the fight against corruption in Romania is making progress but needs to be supported firmly.

The Light Unto the Nations award is the most prestigious honor bestowed by the American Jewish Committee onto heads of state or government in recognition of their international impact on peace, security, democracy and promotion of human values.

Romania Seeks to Sell RON5.8B in Leu Bonds in June

Romania's finance ministry plans to raise RON5.825 billion in June selling local currency bonds and bills, 42% more than in May.

The ministry planned to raise RON4.105 billion in May.

Romania also plans to raise EUR2.5 to 3 billion in eurobond issues.

World Bank Raises Romania's Economic Growth Forecast to 4.4% in 2017

The World Bank has raised its forecast for Romania's economic growth this year to 4.4% from a previous projection of 3.7% forecast in January.

The World Bank's global outlook report sees Romania's economy growing 3.7% in 2018 and 3.5% in 2019.

“Robust domestic demand and stronger imports from the Euro Area has favored commodity importers in Europe and Central Asia (e.g., Bulgaria, Romania, Serbia). Accelerated implementation of EU-funded projects is lifting other regional economies (e.g., Hungary, Poland), while adverse spillovers from recession in Russia and Ukraine are fading, benefiting neighboring countries (e.g., Belarus, Georgia, Moldova). Activity in commodity importers in the Middle East and North Africa is improving as reforms are implemented, as political conditions normalize, and as harvest conditions recover (e.g.,Jordan, Lebanon, Tunisia),” the report noted.

Weather in Romania Warm but Unstable Tuesday, Wednesday

The weather in will be warmer than usual for this time of year on Tuesday and Wednesday throughout most of Romania but unstable.

Maximum temperatures will range between 22-23 degrees Celsius on the seacoast and 32-33 in the southwest part of the country. Storms are expected in the northwest, north and central parts of the country and in the mountain areas.

In Bucharest, temperatures will reach maximums of 29-30 degrees and will drop to 13-15 degrees at night.