Press Review - March 15, 2016

03.15.2016 By Gabriela Stan

IMF Recommends A Budget Deficit Of 2.5% Of GDP For Romania This Year

The International Monetary Fund (IMF) on Monday presented the conclusions of its mission in Bucharest, recommending a budget deficit of only 2.5% from the gross domestic product for Romania this year, compared with 3% stipulated in the budget.

IMF also recommended that Romania postpone the fiscal relaxation measures due to be enforced in 2017, in order to reach a budget deficit of 2% of the gross domestic product.

It also said that delaying the next planned cut in the value added tax and the other planned facilities stipulated in the Tax Code, which are to be enforced in 2017, would generate savings of 0.75 percentage points of the GDP.

This year, the IMF is calling for enhanced public spending discipline and tax administration.

A mission led by IMF mission chief for Romania, Reza Baqir, has been in Bucharest between March 2 and 15 for the annual evaluation of Romania's economy, also known as an Article IV consultation. (Puterea)

Business Days Survey: Taxation, The Biggest Issue For Business

Business owners in western Romania say the main issues of their businesses are related to taxation, bureaucracy and corruption, according to a Business Days survey carried out in Timis, Arad and Bihor counties.

Most of the respondents of Business Days survey said that the main business success factor is represented by the company’s team, except for professionals, who said innovation is the main factor for business success. Thus, the main factors for the success of a business are: the team, innovation, business plan, business idea, networking, the understanding and use of technology, taxation system, the access to easy financing, the starting capital, the market’s competition level, the support from authorities and luck. (Romania Libera)

Health Minister Signs Agreement With Sanitas Federation

Health Minister Patriciu Achimas Cadariu stated on Monday that he signed an agreement with Sanitas Federation representatives and supports the salary hikes expected by the medical staff in 2016.

"I have signed an agreement with Sanitas Federation and it is a signed, official paper. (…) We will start with solving the inequities. I have discussed the issue with Labor Ministry officials, there are 43,000 people in the system. This is obviously a priority. I know you have great expectations from 2016. Let’s wait for the second salary growth of 25%. I support this and I will support this in front of the government as well," health minister told a conference organized by Sanitas Federation. (Puterea)

BNR, Bank Representatives Boycott Debate On Law On Debt Discharge

The representatives of the National Bank of Romania (BNR), banks and professional associations have boycotted the debate on the law on debt discharge where they were supposed to have talks with Daniel Zamfir, who initiated the law, with lawyer Gheorghe Piperea and the representatives of financial services consumers.

Central bank governor Mugur Isarescu and 13 heads of commercial banks were invited for talks on the law on debt discharge, at a meeting organized by Bursa newspaper and the Law Committee of the Chamber of Deputies at the Palace of Parliament, but they chose not to attend the meeting.

Adrian Vasilescu, adviser to the central bank governor, stated that Mugur Isarescu did not boycott the debate but he had to attend an important conference on the financial education topic. (Adevarul)

Top Employers Fair To Start Next Week

Top Employers Job Fair will start next week in the capital city, Bucharest, and will include employers whose salary offers exceed EUR1,000, while salaries could also exceed EUR1,500 for professionals.

The Top Employers Fair will take place at the Palace Hall in Bucharest, between March 25 and 26. Over 100 companies announced their recruitment plans, which include 5,000 jobs and career opportunities for professionals and entry-level employees.

The companies also offer 750 positions for internship&trainee programs, 35 sessions of SkillShops, TechLabs and Conferences, as well as free career counseling sessions. (Adevarul)