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Bucharest
May 22, 2022
BUSINESS

PM upbeat about ‘technical’ end of recession

The trend of the main economic indicators in the first two months of 2011 confirmed that Romania would register economic growth in Q1 if the economy continues along the same positive trend in March, Premier Emil Boc stated on Wednesday ‘We can now be optimistic about the technical end of recession at the end of the first quarter, as a first step towards economic growth’, said the PM.

The head of the National Forecast Commission (CNP), Ion Ghizdeanu, in turn said, on Wednesday, that Romania could post 0.5 per cent quarter-on-previous-quarter growth and 1.3 per cent year-on-year growth in Q1. On the other hand, PM Emil Boc also noted that the Government would also award state aid to companies acquiring units that are facing the risk of closing down because of the crisis. He reminded that the current legislation in the field only allows state aid to be given to companies that create new jobs and meet a given requirement of greenfield investment.

Cernavoda-Medgidia motorway contactor failed to meet obligations

The Ministry of Transport has had to change the time-table for the construction of the Cernavoda-Medgidia motorway not because of the Government, but because the contractor had not met its obligations, PM Emil Boc also noted. The National Company for Motorways and National Roads of Romania (CNADNR) has notified French company Colas about the termination of the agreement for the design and construction of the motorway length from Cernavoda to Medgidia and will hold new tendering procedures. A segment of 5.5 km is currently under construction, the work on which started with a delay last summer.

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