Financial Press Review, 15 February

Under the headline ‘Inflation rate on an annual basis has dropped to 6,99 percent, less than analysts estimated’, the Ziarul Financiar publishes an article which announces that, starting January 2011, prices have increased, with concern for vegetables, fruit, fuel, heat energy, magazines, newspapers and books.

‘Analysts from Citibank draw attention that a weaker Romanian Leu and higher prices for food and raw materials are the main risk factors influencing inflation, which could restraint the ability of the National Bank of Romania to reduce the monetary policy interest rates.

Nevertheless, Citibank analysts expect the inflation to fall to 4 percent in 2011 from nearly 8 percent last year and estimate that, by the end of the year, the NBR will cut benchmark interest rates to 5,5 percent per year.

The Ziarul Financiar publishes an article entitled ‘Romania’s new manufacturing map’, in which we read ‘the new poles of Romanian production and exports’: towns such as Jucu in Cluj county, Urlati in Prahova and Oiejdea in Alba.

With just a few thousand inhabitants, but with plants annually generating tens or even hundreds of millions of euros, the three areas complete Romania's economic map that had for several years also included other towns with less than 50,000 people such as Mioveni (Argeş) or Găeşti (Dâmboviţa).

‘The idea of investing in industrial parks in small towns and villages came when former industrial sites in Romania’s big cities turned into real estate projects and most factories in these areas were either closed or moved.’

The Curierul Naţional opens with an article entitled ‘How much further will land prices fall?’. The residential building land market registered price adjustment up to 70 percent in the past two years, right after the real estate boom, when the value of properties was increasing by the hour.

The Ziarul Financiar writes that ‘State starts preparations for the biggest share offering on Stock Exchange: 500 million euros for 10 percent in Petrom’. ‘Petrom is the most valuable company in Romania’, the daily notes.

The Curierul Naţional further insists on the subject of bribe taking at the customs, in an article entitled ‘Decent trade unionists and poor customs workers’. ‘How little do customs workers earn per month if the bribe offered in order to get a job at the customs was up to 20,000 euros?’.

The newspaper further insists: ‘The world is upside-down. The amount of 20,000 euros is more likely to be offered for a cleaner’s job at the customs, not for an inspector.’

On the same topic, the Bursa newspaper presents the opinion of European Commissioner for Justice Viviane Reding that ‘the arrests at Romania’s customs are a sign that justice starts to work’.

‘The Netherlands officially joined the countries which reject the idea of Romania and Bulgaria joining the Schengen Area’, while unanimous support from other member states is required.

Under the headline: ‘Stupefying: Government on passivity overdose’, the weekly Economistul publishes an interview with former president of the National Anti-Drog Agency Pavel Abraham on the topic of ‘the lack of interest in shutting down shops that sell ethnobotanic substances.

Pavel Abraham considers that the measures taken by the government in order to put an end to the aggression of psychoactive drugs, which we call ethnobotanics – of which only five of forty-six are natural, the remainder being prepared with chemical substances – were insignificant. He also considers that ‘this issue can he handled’.

Translated by: Mihaela Grigoraş
MA Student, MTTLC, Bucharest University