Press Review - October 27, 2015

10.27.2015 By Gabriela Stan

Romania Posts Budget Surplus Of RON6.1B In January-September

Romania's consolidated budget posted a surplus of RON6.1 billion in January-September, Finance Ministry data showed.

The budget surplus for January-September accounts for 0.87% of the gross domestic product estimated for the whole year.  

Revenues in January-September grew 8.8% on the year, to RON169.1 billion. As for tax revenues, a notable growth was registered in collections from the income tax (13.6%), VAT (12.5%), non-tax revenue (12.8%), profit tax (10.9%) and excise duties (8.2%).

Roads, Electricity Issues Drag Down Romania In Top Of Investment Destinations

The roads and electricity issues and the difficulty in getting building permits drag down Romania in the top of investment destinations, which is outranked by Bulgaria and Poland, despite the fact that it’s easier to start a business in Romania.

Speaking at Foreign Investors Summit 2015, Ismail Radwan, World Bank's specialist in Romania for public sector management, said that it is easier to start a business in Romania than in Poland or Bulgaria but the two countries are better placed in World Bank’s tops in terms of friendly attitude towards investors, due to Romania’s issues related to infrastructure and good governance. (Romania Libera)

Senate Adopts Draft Law On Paying Off Mortgage Loans With Mortgaged Property

The Romanian Senate on Monday adopted a draft law on the payment of mortgage loans with the mortgaged property, available in the relation between individuals and lenders or non-banking financial institutions.

According to the draft law, the debtor has the right to pay off mortgage loans by transferring the ownership right over the mortgaged property to the lender.

Thus, the debtor should notify the lender, through a judicial executor, a notary public or a lawyer, on the decision to transfer the property right over the mortgaged property. (Adevarul)

Gabriel Oprea Won’t Resign Following Policeman’s Accident

President Klaus Iohannis has advised Deputy PM and Interior Minister Gabriel Oprea to resign due to due to poor management of the crisis following the accident that killed a policeman, while Oprea said he is not guilty and will not resign.

 ”During the meeting at Cotroceni Palace this evening, President Klaus Iohannis advised me, indeed, to consider a resignation from the government, following the poor management of the communication in the last days. I consider that the implications of these statements are not institutional but exclusively political. (…) Nevertheless, no matter the situation, the opportunity of a resignation is always related to the truth and the law. (…) In a rule of law, the law observance is more important than the political games, and I will observe the law every time,” Oprea said. (Puterea)

WHO: Processed Meat Consumption Likely Causes Cancer

The consumption of processed meat has the potential to cause cancer in humans, according to the latest study of World Health Organization (WHO) agency.

The study classifies processed meat products like salami and bacon carcinogenic to humans, the strongest level of risk for cancer, and a category shared with tobacco smoke and diesel engine exhaust. Nevertheless, meat industry groups already argue the study is inadequate, saying that processed meat meets European Union regulations.

According to Dr. Victor Olsavzsky, WHO representative for Romania, the WHO study only stresses the already known idea that both processed meat and smoked meat have the potential to cause cancer. For example, the daily consumption of 50 grams of processed meat increases the risk of developing cancer by 18%. (Adevarul)