March 19, 2019

UDMR calls for postponement of entry into force of OUG 114
Mar 19, 2019

UDMR calls for postponement of entry into force of OUG 114.
The Hungarian Democratic Union of Romania (UDMR) calls for the postponement of the entry into force of Emergency Ordinance (OUG) 114 until 2020, considering it needs amendments in relation to more than 40 points. "The Union would change in more than 40 points the OUG that provides for fundamental changes in the fiscal and economic system, after having repeatedly stated that it cannot agree to the OUG hurriedly adopted by the relevant ministry. The leader of the UDMR group in the Chamber of Deputies, Korodi Attila, stressed that, as part of the parliamentary debate on the simple motion against the Finance Minister, UDMR said it would ask for the postponement of the OUG’s entry into force and the initiation of a large parliamentary and professional debate on this topic," a press release issued by UDMR on Tuesday informs. According to Korodi Attila, OUG 114 would amend over 50 laws with immediate effect, without prior studies. "The UDMR’s parliamentary group considers that the OUG has positive aspects, but it also includes measures that do not serve to the development of the economic sphere and local administrations. Therefore, for all the economic actors concerned to have enough time to prepare themselves as regards the enforcement of the OUG’s provisions, UDMR calls for the postponement of the entry into force of the new normative act until 2020," the release states. Among other things, UDMR also proposes changes aimed at eliminating the "tax on greed", considering that introducing such a measure, without carrying out an impact assessment, significantly puts individuals and companies at a disadvantage. "In the parliamentary debate on Government Emergency Ordinance No. 114, UDMR calls for private pension funds to invest their funds in strategic projects and the share capital to be in proportion to the amounts they manage. Given that the private pension funds do not profitably manage the contributions of citizens to mandatory private pensions, it is necessary to give these private pension funds the opportunity to invest in strategic projects, thus capitalizing on the taxpayers’ money," the quoted document states. AGERPRES (RO - author: Marius Septimiu Avram, editor: Diana Dumitru; EN - author: Simona Iacob, editor: Bogdan Gabaroi)

[Read the article in Agerpres]

Romania Approves Memorandum For $2.5M Loan To Fund Justice Quarters Realty Project The Romanian Government on Wednesday approved a memorandum of the Finance Ministry for receiving a downpayment of $2.5 million from the International Bank for Reconstruction and Development (IBRD).

Four Turkish Industrial Groups Build EUR180M Plants, Create Over 1,100 Jobs In Romania Turkish industrial group Coskunoz is investing EUR20 million in the construction of a car parts factory in the locality of Dragasani (Olt County), and nearly half of the investment is covered by state aid.

Romanian-American Joint Committee convenes to discuss schedule of bilateral, multinational exercises A schedule of bilateral and multinational exercises, including within NATO, planned to take place during the current year and in 2020 on Romania's soil was one of the main topics for discussion at a meeting of the Romanian-American Joint Committee in Bucharest on Wednesday. "The (...)

President Iohannis signs decree appointing interim ministers President Klaus Iohannis signed on Wednesday the decree appointing the interim ministers at the Justice Ministry, the European Funds Ministry and the Ministry for Romanians Abroad. Thus, the head of state signed the decree appointing Deputy PM for implementing Romania's strategic (...)

Eurostat: Romania Posts Highest Government Debt-To-GDP Ratio In EU, In 4Q/2018 Romania‚Äôs government debt reached 0.8% of the gross domestic product in the fourth quarter of 2018, compared with the third quarter of 2018, being the country with the biggest increase in government debt-to-GDP ratio, during the mentioned period, data from Eurostat, the statistical office of the (...)

Dan Bucsa, UniCredit: Consumption, A Determining Factor For Romania's GDP Growth In 2019 Consumption will have the biggest contribution inRomania's gross domestic product (GDP) in 2019, and investments will not contribute to the economic growth this year either, UniCredit chief economist Dan Bucsa said Wednesday.

President Iohannis tells Venice Commission delegation that PSD legislates defectively President Klaus Iohannis welcomed a delegation of the European Commission for Democracy through Law of the Council of Europe (the Venice Commission) at the Cotroceni Presidential Palace on Wednesday to voice dissatisfaction with what he called a defective way in which the Social Democratic (...) : all romanian news. Copyright © DIRECTWAY | News RSS |