With a capacity of 679 MW for a value of over 543 million euros, Galati is the hottest county in Romania according to the wind projects approved in the period 2021-2022, thus outclassing Constanta in terms of interest. Moldova, the poorest region of Romania, is becoming the new El Dorado for investors in the second wave of green investments.

From the information available on the Transelectrica site, it appears that wind projects with a capacity of over 2,700 MW have been approved only in the period 2021-2022 and, if they enter into operation, most of them will have a completion date of 2025-2026, will require investments of almost 2.2 billion euros. The interest in green energy projects is unprecedented and makes Moldova the new money destination for wind turbines, after Constanta concentrated most of its investments in the first wave.

After the province of Galati, Constanta is in second place in terms of interest, which is normal in a context in which the area is almost closed in terms of capacity. Buzau, Tulcea and Iasi are the runners-up, thus shaping Moldova as the new El Dorado for wind projects in the second wave of investments.

By a large majority and with few amendments, the draft budget and social security law for 2022 were adopted by the Bucharest Parliament.
The budget law was drafted on an economic growth of 4.6%, a Gross Domestic Product of around 260 billion euros, an average annual inflation of 6.5% and an average gross salary of around 1,200 euros per month. The social security budget is 7.7% of GDP. Most of the budgets allocated to the main public institutions remained in the form proposed by the government.

Starting January 1, in addition to the increase of the minimum wage with 10.9% to 520 Euro, five million pensioners will receive an additional 10% to their pensions. The pension point will go up to some 320 Euro. Child benefits will also get an increase. Children up to 2 years old and those with disabilities will receive 120 Euro, while children up to 18 years of age will receive 50 Euro.

The Labor Minister admitted the measures will also trigger an increase in the purchasing power, but says it will offer protection considering the latest price hikes. The increase in the price for natural gas and electricity and other utilities and products has boosted the inflation rate to nearly 8%. Overall, the impact of the measures will be tantamount to 3.2 billion Euro. It is a considerable strain on the 2022 budget, so there won't be enough funds for other salary increases in the public system.
So, the base salaries, military pays, allowances and bonuses awarded to public sector employees will not be increased net year so as to avoid putting additional strain on public spending. The special pensions will also be frozen, while special pensions awarded to mayors will be awarded starting 2023, having as its main reason the state considerable debt, equal to 50% of GDP.

Romania's economy decreased in 2020 by 3.9% compared to 2019, a better result than previous estimates, and in the fourth quarter GDP increased, in real terms, by 5.3% compared to the third quarter, announced Tuesday the National Institute of Statistics.
Compared to the fourth quarter of 2019, in the last three months of 2020, GDP decreased by 1.5%, on a gross series, and by 1.7% on a seasonally adjusted series.

In April, the IMF estimated a 5% decline in Romania's GDP and many analysts had expected a 7-8% decline due to the pandemic. At the August budget adjustment, the Orban government revised the forecast negatively, leading to a 3.8% decrease in GDP in 2020.

In reaching the budget for 2021, the Government estimates for the current year a 4.3% increase in the economy and a GDP of 1.116 billion lei, up 7%, to a level similar to that of 2019.

"The Romanian economy, the performance upsets the apocalyptic estimates! In the fourth quarter of 2020 the Romanian economy grew by 5.3% !!! A fantastic performance. The FASTEST economic recovery in history. We promised. We did. I was right. The return of the V-shaped economy, a certainty! In 2020 the Romanian economy, together with the global one, was hit by the biggest crisis of the last hundred years. However, it contracted ONLY by 3.9% "Prime Minister Florin Cîtu said on his Facebook page on Tuesday.

Italian company Astaldi has started the construction works on the suspended bridge over the Danube in the Romanian metropolitan zone Galati - Braila, which is the most complex road infrastructure project in Romania since the fall of the communism in 1989. The suspended bridge from Braila will be among the five longest bridges in Europe, with a central opening of 1.12 kilometers.

After the preliminary lands working, archaeological discharge and demining, Astaldi began the actual construction works of the future bridge in Braila. With a value of RON 1.99 billion (EUR 425 million), plus VAT, the contract stretches over 12 months of design, 36 months of execution and a warranty period of 120 months. The order for the design phase of the Brăila Bridge was issued in the first quarter of 2018.

According to the contract, the design should take 12 months, after which the 36-month construction will begin. In addition to the suspended bridge, the contract includes building two viaducts of 110 m in length, a road with a length of 19,095 km, and a connecting road with DN22 (Smardan - Macin), with a length of 4,328 km.

According to the Romanian National Institute of Statistics :

• In August 2018, the average gross nominal earnings* were 4449 lei (about 953 euro), by 1.4% lower than the one
  registered in July 2018.
• The average net nominal earnings were 2669 lei (about 572 euro), decreasing as against the previous month with 39 lei
  (-1.4%).
• The highest values of the average net nominal earnings were recorded in computer programming, consultancy and related activities (6319 lei, about 1354 euro), while the lowest in accommodation and food service activities (1556 lei, about 333 euro).

August 2018 as compared to August 2017

• As compared to August of the previous year, the average net nominal earnings increased by 12.9%.

Earnings in relation with the evolution of consumer prices

• The real earnings index** in relation with the same period of previous year was 107.5%.
• The real earnings index was 98.3% for August 2018 as against previous month.
• As compared to October 1990, the real earnings index was 191.6%, by 3.4 percentage points lower than the one recorded in July 2018.

*) The average gross monthly earnings are determined by reporting the amounts from the salary fund, net profit and other funds (exclusive severance payments, backdated paid arrears as consequence of wining the lawsuits involving the money rights related to previous years, nominal value of  holiday vouchers) to the average number of employees.
**) calculated as the ratio between the net nominal earnings index and the consumer prices index.

The Administration Ports of the Maritime Danube (APDM) of Galati signed the contract for the "Elaboration of the technical project for the execution of investment works", part of the first phase of the intermodal terminal project which highlights the strategic position and technical facilities of the three ports of Galati with the creation of an intermodal fluvial maritime-railway terminal that will become a hub for the transport of goods between Asia and Western Europe, through the channel of Rhin-Main-Danube.
The value of the first phase, which will end on March 31, 2020 is 25.619.781 euros, of which, non-refundable funding from the European Commission through the mechanism to connect Europe of 21.776.814 euros, co-financing by the State of 3.450.053 euros and contributions from the private investors Metaltrade International Ltd. and New Port Basin of 392,914 euros.

At the end of the investment in the Galati intermodal terminal, the multimodal platform it could be transited by 300,000 containers, equivalent to 5-6 million tons of goods per year, and would create over 50,000 new jobs in 10 years.

This project will take place in two phases, due to budget constraints of the European Commission. From the EUR 80 million, estimated value of this project, the Commission was able to allocate only 25 million, which represents a part of the port infrastructure, pier and part of the eligible costs, including design.

The economic growth that Romania posted last year is definitely impressive. The National Statistics Institute (INS) announced on Wednesday that the country’s economy went up by 7% in 2017 as against the previous year. This is the most significant advance since 2008, a period also marked by sustained economic growth and followed by recession and austerity. According to the INS, in the last quarter of 2017 Romania had the biggest growth of all the 28 EU member states. An Eurostat report confirms this situation.
The main engine for growth has been household consumption, stimulated by smaller taxes and an increase in salaries, followed by the industry, but with little public investment for the second consecutive year.

Also on Wednesday, the Central Banks’ Board announced that the expected dynamics of economic growth remains robust in 2018, but it goes down in 2019. The National Commission for Prognosis has recently revised upwards, to 6.1%, the GDP advance estimated for this year, after an initial 5.5% forecast for 2018. Also, the World Bank has recently announced Romania is expected to report a 6.4% increase in its GDP for 2017 as compared to the 4.4% forecast in June.

The Romanian government today approved payments for agricultural subsidies for the year 2017, amounting to about 1.8 billion euros, representing direct payments in the vegetal sector, national aid to the livestock sector and coupled support scheme for sheep / goat species.

Direct payments in the vegetable sector are as follows:
> single area payment scheme, at a minimum of EUR 97.24 /ha;
> redistributive payment: 5 EUR /ha for 1-5 ha inclusive and 48,32 EUR /ha for 5-30 ha inclusive;
> payment for agricultural practices beneficial to the climate and the environment, also called greening payment - 57,17 EUR /ha;
> payment for young farmers - 24,31 EUR /ha.

The Romanian Government also approved the ceilings for transitional national aids in the livestock sector and set the amount for the 2017 payment year, as follows:
> EUR 24.08 million for the decoupled production scheme for the milk sector, the bovine species;
> EUR 101.2 million for the meat sector, the bovine species;
> EUR 50.78 million for ovine / caprine species.

The amount of such subsidies shall be calculated by reporting the amounts to the quantities of milk delivered and/or sold directly eligible, respectively at the number of bovine herds or eligible sheep / goat females.
At the same time, the Executive has approved the EUR 48.5 million ceiling for direct payment for the coupled support scheme for sheep / goat species to be granted for the year 2017. The amount for this scheme is calculated by reporting the ceiling to the eligible livestock.

Romania had the highest economic growth rate in the EU in the first quarter of the year, 5.6% against the corresponding period of 2016, the Eurostat announced. In contrast, the Eurozone reported a 1.7% growth rate, and the EU as a whole 2%.
According to the National Statistics Institute, in the first quarter of the year Romania had a 5.7% economic growth rate compared to the corresponding period of last year, and the Government expects a 5.2% rate for the entire year. The first quarter of 2017 was the 7th consecutive one to report growth.

The figure exceeds the level on which the Cabinet has based the state budget for this year, and which has been seen by many as optimistic. The growth announced by the national authorities has been confirmed by the European statistics bureau, the Eurostat, which says Romania had the highest growth rate in the EU, namely 5.6%.

The Fiscal Council however warns that the GDP growth has been fuelled primarily by consumption. PM Sorin Grindeanu says this performance is a confirmation of the economic measures taken by the Government, as well as the consequence of enhanced confidence from the business environment in the measures announced for the forthcoming period.According to the Cabinet, the growth rate in the first quarter has been heralded by other positive developments in the economy. For instance, exports have reached an all-time high of 5.7 billion euros in March, and in the first 4 months of the year over 100,000 new stable jobs were created. The industrial output also sees substantial increases, while unemployment is at its lowest since 1989.

Upon the presentation of the report on financial stability in 2017, the vice-governor of the national bank, Liviu Voinea, says that, in comparison with the previous report, financial stability has remained robust in Romania, and risks have diminished in intensity and number, but have nevertheless diversified. Also said that a recently emerged risk, which is low for the moment, is that of an increase in real estate prices.