Press Review - October 11, 2017

10.11.2017 By Oana Gavrila

Central Bank Warns Public Debt Grew to 45.5% of GDP

Romania's receivables, expressed as share of the gross domestic product, fell 0.4 percentage points in the second quarter to 24.5% of GDP, while public debt grew to 45.5% of GDP from 44.9%, the central bank warned in a report Tuesday.

Romania's short and long-term debt has grown because the state has borrowed money selling state paper faster than it has redeemed previous issues.

Senate Keeps Raised Fuel Excise

Romania's Senate on Tuesday adopted a government bill raising the fuel excise, eliminating amendments introduced by a lower committee that would have kept excises unchanged.

Senators in the budget-finance committee had adopted amendments canceling the hike in fuel excises, but the plenary assembly reintroduced the measure.

The government passed an emergency decree at the end of August raising excise duties on fuel by more than 20% in two stages, as of September 15 and October 1.

Following its adoption in Senate, the bill will be put to a vote in the Chamber of Deputies before it becomes law.

Parliament Appoints New Court of Accounts Leaders Wednesday

Romanian lawmakers meet Wednesday to appoint new heads at the Court of Accounts.

On Tuesday, the parliament's budget-finance committees endorsed the candidacy of  Mihai Busuioc, currently serving as secretary general of the government, as head of the institution. Busuioc is not a party member.

Ruling coalition leaders said they would not nominate any of their party members at the Court of Accounts to keep the institution apolitical.

Romania Revises Second-Quarter GDP Growth to 5.9%

Romania's GDP expanded at a faster pace of 5.9% in the second quarter, after a 5.7% growth in the first quarter, revised statistical data showed Tuesday.

The second quarter figure was revised up from 5.7%.

Without adjustment, the annual economic growth improved to 6.1% from a previous reading of 5.9%.

In the first half of the year, Romania's gross domestic product grew 5.9% (5.8% in seasonally adjusted data) compared with the same period last year.