Press Review - October 26, 2017

10.26.2017 By Oana Gavrila

CE Oltenia Miners Quit Hunger Strike

Forty miners and energy specialists of energy holding CE Oltenia ended a hunger strike started Tuesday over higher pay demands.

Workers renounced the extreme form of protest after negotiations with the company management that extended until midnight.

Unionists were promised wage raises to be granted in December.

Metro Seeks To Reach 2,000 Convenience Stores in Romania by 2020

Retailer METRO Cash & Carry is re-positioning its convenience store brand LaDoiPasi as an independent franchise and seeks to reach 2,000 stores in Romania by 2020.

The chain, launched in 2012, currently has 430 stores, 25 of which opened within the last month.

The convenience store market is currently dominated by retailers Mega Image and Profi.

Romanian Roads Authority Says It Secured Road Maintenance Until Yearend

Romania's authority in charge of roads and highways said Wednesday it has signed contracts securing infrastructure maintenance until the end of this year.

It said it signed 55 contracts for road maintenance for the fourth quarter of the year.

It added snow removal for highways A1 and A3, for which the contracts are under litigation, will be taken over by the regional roads authority of Bucharest until matters are cleared.

Romanian Finance Ministry Says 2.96% Deficit Target Not Endangered

Romania's deficit target of 2.96% of GDP for 2017 is not in danger of being exceeded, the finance minister said Wednesday.

A report issued Tuesday by Eurostat showed registered the highest budget deficit in the European Union in the second quarter of 2017, of 4.1% of GDP, raising concerns the country's budget gap might go over the 3% deficit limit.

The finance ministry said differences arose from different calculation methods and seasonally adjusted data.

Romania Posts Budget Deficit Of 0.81% Of GDP In Jan-Sept 2017

Romania's general consolidated budget posted a deficit of RON6.8 billion in January-September 2017, or 0.81% of the gross domestic product (GDP),  finance ministry data showed Wednesday.

In January-September 2016, Romania’s consolidated budget posted a deficit of RON3.7 billion, or 0.49% of GDP.

Revenues to the consolidated budget amounted to RON180.4 billion, or 21.6% of GDP, and were 8.8% higher than in January-September 2016.

Budget expenditure stood at RON187.3 billion in the mentioned period, 10.5% higher in nominal terms compared with January-September 2016.

A total RON12.1 billion was allocated for investments in January-September 2017, or 1.4% of GDP, which includes capital expenditure and development programs financed from local and external sources.