Drought
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Drought effects as seen by CNP: Economic growth down, inflation up
The forecast for this year's economic growth has been revised downwards from 6.5% to 6.1%, whilst the inflation rate estimate has been revised upwards from 4.2% to 4.5%, announced the National Forecast Commission (CNP). The reason behind the revision of this y...
Ursus: Drought boosts beer price
Dieter Schulze, president of Ursus Breweries, the second-largest beer producer on the domestic market, says the company's decision to increase beer prices, as a result of this year's drought...
Constructions boom may offset losses triggered by drought
This summer's drought could cost as much as 1% of GDP, but the losses could be compensated for by the boom witnessed in the constructions industry, believes the National Forecast Commission...
Drought may take agricultural insurance to 25m euros
The heavy losses they are faced with might make agricultural producers decide to insure a larger part of cultivated areas. This year's prolonged drought, which has caused farmers to lose ten...
Drought causes tens of millions of euros in losses
The big agricultural cultivators will see tens of millions of euros in losses caused by this year's drought, which has affected more than half of the cultivated areas and particularly wheat...
Drought affects the GDP
The effects of a drought will be "quite severe" if weather forecasts prove accurate. The contribution of the agricultural production to the Gross Domestic Product will diminish, imports will...
Drought is Termoelectrica's best friend
Drought, the enemy that hit Hidroelectrica and Nuclearelectrica hard, has turned out to be Termoelectrica's surprise ally in the battle to curb losses. The thermoelectric power plants, which...
Drought entails $90m additional costs
Additional costs for energy production will top 2,400-3,000bn ROL ($90m) by yearend, as the nuclear power plant in Cernavoda ceased operations and Hidroelectrica's output has slumped, accord...
Hidroelectrica loses 3.5 million euros, blames drought
The effects of the lack of rain we have seen lately are starting to reverberate throughout the economy like in a game of domino. Danube's flow has reached the last 160 years' low, which impa...