Financial Press Review, January 6

Under the headline ‘The NBR is more afraid of inflation and postpones a monetary impulse to resuscitate economic growth,’ the Ziarul Financiar reads that ‘analysts have anticipated the NBR’s decision, since the circumstances in the time that comes are still risky inflation-wise, especially food and fuel prices.’

‘NBR still cautious in its monetary policy,’ the Curierul Naţional also reads.

The daily Bursa prints financial analyst’s Ilie Şerbănescu opinion that foreign banks in Romania ‘don’t take into account whether the monetary policy interest rate rises or falls.’

The Ziarul Financiar dedicates an article to yesterday’s 2011 targets set by the President for the Boc Government.

According to the head of the state ‘there are billions waiting to be invested, but nobody is willing to spend them.’

As for the country’s objective to adhere to the Schengen area, Traian Băsescu pointed out that ‘Romania cannot denounce the Cooperation and Verification Mechanism and cannot block Croatia’s accession to the EU.’

The same daily dedicated an article to a 2010 review in the fields covered by the Ministry of Regional Development and Tourism. ‘Only 1, 602 houses for the young married couples, out of the 100, 000 promised, zero houses in villages, out of the 25, 000 promised (…) although the overall budget was slightly over half a billion euro.’ In as much as the allocated budget for 2011 allows us, the rest of the houses will be finished,’ Elena Udrea stated, who the daily claims is ‘the most influential minister of the Boc Government.’

The Curierul Naţional asks ‘Where will companies get the money for 2011 from?’ ‘Bond issues, asset sales and attracting new shareholders are more appealing than entering capital markets,’ the daily claims.

The same daily opens its front page with another question: ‘What is the 3 percent tax still good for?’ ‘The emergency ordinance that reinstates the income tax on microenterprises seems to have issued too late,’ the daily claims. ‘The firms that went for an income tax in the past can’t benefit from it anymore.’

Those whose income comes from management or consultancy or didn’t know they would need at least one employee are also excluded.

From the Ziarul Financiar we find out that ‘doctors’ exodus peaked in 2010 after salary cuts.’

According to the daily's estimations, ‘three doctors emigrated every day, since abroad residents earn 2000 euros on average while in Romania a resident doctor earns 340 at most. (…)

‘The lack of medical staff has become evident after the fire at the Giuleşti maternity in Bucharest.’ The ministry in charge ‘has taken upon itself the task to stop doctors’ exodus, and intends on giving cash bonuses and benefits to those that agree to a 5 year fidelity clause.’

Translated by: Gabriela Lungu

MA Student, MTTLC, Bucharest University