Press Review - November 8, 2018

11.08.2018 By Oana Gavrila

Romanian Leu Firms Vs Euro

The Romanian leu firmed against the euro Wednesday, standing at 4.6617 lei/euro at midday, 0.05% higher compared with Tuesday.

On Tuesday, the leu stood at 4.6640 units to the euro.

The leu also firmed agaisnt the US dollar on Wednesday, standing at 4.0588 units from 4.0952 units on Tuesday.

President Says Government Lacks  Vision, Investments Stay on Paper

President Klaus Iohannis on Wednesday said the government lacks vision, public investments remain on paper and the business environment expects more predictability and fewer swiftly adopted measures.

Sustainable development is possible only when based on the sustained growth of quality involvements and productivity, the president said, and the performance of local businesses is hindered by the evolution of the country's economy, which slowed towards 4% compared with the government's projection of 5.5%.

In the first three quarters, Romania's budget deficit is more than double compared with the same period last year and the country risks going over the 3% of GDP deficit limit, Iohannis added.

Lower Chamber Adopts Law for Tg. Mures-Iasi Highway

Romania's lower chamber of Parliament on Wednesday adopted a bill for the building of the Iasi-Targu Mures highway from state budget funds, through the Ministry of Transport.

The bill was adopted with 261 votes in favor, two against, and five abstentions.

The ministry should start procedures on the investment objective within 30 days of the law coming into force.