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Finance Ministry even less keen on domestic market
The reopening of the eurobond issue released this summer is the only option to fund the budgetary deficit without generating inflation, Finance minister Mihai Tanasescu says. In other words,...
Less ROL in banks, fewer credits
Will the banks have less ROL available for credits in the future? Will the bankers have one more thing to worry about, i.e. how to get the resources so badly needed to boost lending? Just lo...
8% less for Body Shop in Q1
Cosmetics retail chain The Body Shop Romania witnessed 8% decline in Q1 sales to 290,000 euros, compared with the same time last year. "The sales decline is due - we think, to the reduction...
NBR buys less foreign currency
The National Bank of Romania was a net foreign currency buyer last month, having bought almost 58 million euros from the interbank market, almost three times less than in the previous month....
Romanian wages: less money, more taxes
The Romanian workforce, although considered cheap, does bear the most taxes in the entire Central and Eastern Europe, despite the five percent cut in the social security contributions (CAS)...
ABB gets $30m less than expected
Swiss-Swedish group ABB will register only $65-$70 million in orders on the Romanian market this year, down from the $78 million logged in 2001 and the $100 million forecast for 2002."We can...
More money, less spending - 1.6% deficit
Ten months through the year, the general consolidated budget deficit amounted to 24,092bn ROL, accounting for 1.6% of the estimated Gross Domestic Product. The deficit scheduled for 2002 amo...
Romania is less competititive
In a year, Romania has gone down from 56th to 66th in the Global Competitiveness Report, published by the World Economic Forum, the organiser of the famous Davos forum. Published on a yearly...
Petrom expects less expensive loans
Petrom expects less expensive loans